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Cross River Ventures Corp. has entered into a business combination agreement with Scotia Lithium Corp. to acquire all outstanding shares of Scotia Lithium. The transaction, expected to close in April 2026, involves a consolidation of Cross River's common shares on a 30:1 basis and a name change to Scotia Metals Corp.

Scotia Lithium's subsidiary, Continental Lithium Ltd., owns the L3 Lithium project in Nova Scotia, comprising approximately 1,200 km² across 109 mineral licenses. The L3 project is strategically located near other lithium projects and is benefiting from strong infrastructure.

The company will also conduct a concurrent financing and reconstitute its management team. The transaction requires approval from regulators and shareholders, with a meeting scheduled for March 24, 2026.