Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) today announced its entry into a non-binding cooperation agreement with Hunan Shijiyintian New Material Co., Ltd, an 100% wholly owned subsidiary of Hunan Jinxin New Material Co., Ltd. (“Hunan Jinxin”). Bolt Metals and Hunan Jinxin will immediately commence negotiations with the intention of entering into one or more definitive binding agreements definitive agreement, subject to further due diligence to be completed between the parties. According to the update, it is anticipated that there will be two primary components of a definitive agreement, including a preliminary offtake and investment. “While recent market developments have generated significant interest in Bolt Metals and its Cyclops Project from downstream EV battery manufacturers within Indonesia, the Company remains committed to an international outlook and a comprehensive strategy in order to maximise shareholder value and fast-track the development of its assets,” Bolt Metals President and CEO Ranjeet Sundher said in the news release. “I am excited to begin negotiations with a company of Hunan Jinxin’s calibre.”
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About Bolt Metals
BOLT Metals Corp. is a Canadian‐based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery industry. For more information, visit the company’s website at www.BoltMetals.com.
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