Cross River Ventures to Acquire Scotia Lithium in Business Combination Agreement
Cross River Ventures Corp. has signed a business combination agreement to acquire Scotia Lithium Corp., consolidating its shares on a 30:1 basis and rebranding as Scotia Metals Corp. The acquisition, set to close in April 2026, includes Scotia Lithium's subsidiary, Continental Lithium Ltd., which holds the L3 Lithium project in Nova Scotia, and is subject to regulatory and shareholder approval with a meeting scheduled for March 24, 2026.
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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.
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