25th Jan 2016 09:49
LONDON (Alliance News) - Lithium producer Bacanora Minerals Ltd on Monday said it has entered into a consultancy deal focused on identifying potential purchasers of its lithium products.
The consultancy agreement is with a company controlled by Mark Hohnen, who has been proposed as a nominee to the Bacanora board.
The consultancy is for 18 months and will involve monthly payments by Bacanora of GBP57,000 per month.
In addition, Bacanora has granted the consultancy options over 1.0 million of its shares, exercisable over the next 12 months at 77.00 pence per share.
Shares in Bacanora were up 2.2% to 80.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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