ASX-listed Pioneer Resources has entered into an option agreement and strategic alliance with TSX-listed International Lithium Corporation (ILC) over the Mavis lithium project, in Ontario.
Under the terms of the agreement, announced on Tuesday, Pioneer had subscribed for C$100 000 units in ILC, at a price of 8c each, comprising one common share and one-half of a transferable common share purchase warrant, which entitled the holder to acquire one common share at an issue price of 12c each, for a period of four years.
