Day: February 27, 2018

As announced on 14 December 2017, NextView previously entered into a binding placing letter with the Company pursuant to which it agreed to acquire 32,976,635 common shares in the Company at a price of 94.53 pence (approximately C$1.6223) per share for aggregate gross proceeds of £31,172,813 (approximately C$53,498,000). The initial target date for completion of the Placing was end of January 2018. The Company has fulfilled all of its obligations in respect of the Placing, however, NextView has failed to forward the Placing proceeds to the Company, leaving it in default under the terms of the Placing Letter.

President and chief executive officer Allan Barry Laboucan said: “In the past year we expanded our Mexican portfolio from having six lithium prospective salars, to an additional seven salars and then staked nearly one million acres over three very large salars. All of these salars are 100-per-cent-owned Alset projects. We look at it as two main project regions, with a southern cluster of 13 salars in the states of Zacatecas and San Luis Potosi, and the second much larger northern cluster in the state of Coahuila. The salars that make up the southern cluster are the most advanced, with enough historical data and recent work to be able to complete a number of mineral resource estimates. These are the three mentioned earlier which include our largest salar, the highest-grade lithium salar and the salar with the highest-grade lithium sample in the southern cluster. We are excited to be able to complete initial mineral resource estimates on these three salars. This work will help provide scope to the tonnage potential of these three salars and help lead our future work on exploration and development of all our lithium prospective salars in the southern cluster.”