Hertz Lithium Inc. is making strides in the world of energy solutions by announcing a definitive agreement to acquire Canuck Lithium Corp. (“Canuck Lithium”). The company has offered ten million common shares of Hertz Lithium to fully acquire Canuck Lithium in a friendly takeover and has additionally offered to retire the current Canuck Lithium shareholders debt.
This agreement will result in Hertz Lithium forming a direct presence in the world’s largest supplier of Lithium, Chile. Canuck Lithium is a comparatively small, but growing Canadian lithium and exploration company with advanced projects located in the Atacama region of Chile to tap into lithium potential. Hertz Lithium’s acquisition of Canuck Lithium will place the company in this crucial region to explore the larger size of the Lithium market.
The acquisition of Canuck Lithium places Hertz Lithium in a position to go beyond exploring lithium resources and advance in the development of a South American lithium production supply chain—furthering the company’s growth into other areas of the energy industry. Canuck Lithium has a successful track record of exploration and it is expected that this collaboration between the two companies will benefit both parties in terms of the growth and development of key South American lithium assets.
Hertz Lithium’s CEO and Chairman, Keefe Stromm, is excited to share the news and is confident that this acquisition is the right move for both Hertz Lithium and Canuck Lithium. Through the amalgamation of the two organizations, Hertz Lithium will be well-positioned to further push its long-term vision of the energy sector for the future.
This news is indicative of the progress that Hertz Lithium is making and its dedication to choke the ever-growing demand for sustainable energy sources. Through this partnership, Hertz Lithium will be more heavily invested in the exploration and development of lithium resources while pushing their commitment to a greener world.