Ganfeng completed its option to increase its stake in Sonora Lithium Ltd ("SLL") from 22.5% to 50% (the "Option") on 26 February 2021. On completion of the transaction, a revised 50:50 Joint Venture Agreement (“JVA”) came into force, whereby each party is responsible for their portion of the Project capex. After review of the provisions of the revised JVA, the Company has assessed that Bacanora now has joint control over SLL and its subsidiaries (the “Sonora Lithium Group”).
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