Select Page

Lithium producer enters Transfer Agreements to acquire two neighbouring exclusive prospecting licenses

Lithium producer enters Transfer Agreements to acquire two neighbouring exclusive prospecting licenses

Lithium developer and lithium concentrate producer Desert Lion Energy announced this week that it has entered definitive Transfer Agreements for the acquisition of Exclusive Prospecting License 5555 and 5718, both located adjacent to its existing Exclusive Prospecting Licenses where the Rubicon and Helikon lithium mines are located.

In separate Transfer Agreements, Desert Lion has agreed to pay aggregate consideration of approximately C$180,000 for each of EPL 5555 and EPL 5718, of which C$30,000 was paid in cash on execution of the respective Transfer Agreement.

An additional cash payment of approximately C$100,000 will be paid on closing of each transaction and Desert Lion will issue the respective vendors, in aggregate, a number of common shares of Desert Lion equal to C$50,000 and at a price per share equal to the closing price of Desert Lion’s common shares on the TSX Venture Exchange on the day immediately prior to closing.

Both EPLs are largely underexplored with respect to lithium mineralization, and contain host Pan African age (500Ma) syn and post tectonic granites that are considered to be the source of LCT type pegmatites.

According to Desert Lion, upon closing of the Proposed Transaction, the Company’s ground holding in Namibia will cover a total of 1,054km2.

Meanwhile, closing of the Proposed Transaction is subject to receipt of approval of the transfer of the EPL’s to Desert Lion by the Namibian Ministry of Mines and Energy as well as any required regulatory approvals, including the TSX Venture Exchange.

“We are excited to have acquired EPL 5555 and 5718,” said Tim Johnston, president and CEO of Desert Lion Energy Inc. “These EPLs represent significant optionality for our organic growth profile, which we plan on testing as we move forward with our 2018 exploration programme.”

About The Author

Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia


20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.