Bacanora Minerals Ltd. (TSXV:BCN) entered into a definitive agreement to acquire 50% interest in Zinnwald Lithium Project from SolarWorld Aktiengesellschaft (XTRA:SWVK) for €5 million on February 17, 2017. Bacanora will earn 50% of the project in return for a cash consideration of €5 million and an undertaking to contribute €5 million towards the cost of completing a feasibility study on the Project, which is anticipated to take approximately 18-24 months to complete. Bacanora have an option to acquire the outstanding 50% held by SolarWorld within a 24 months period for €30 million. Following the transaction, Bacanora Minerals and SolarWorld will jointly operate the control of the Zinnwald Lithium Project, under the name of Deutsche Lithium GmbH. Sandy Jamieson and Liam Murray of Cairn Financial Advisers LLP acted as financial advisor, Charles Bond, Andreas Wölfle, Petra Beyer, Manuela Finger, Samantha Myers and Andreas Woelfle of Gowling WLG International Limited and Thomas Schoenfeld and Matthias von Oppen of LUTZ |ABEL Rechtsanwalts GmbH acted as legal advisors, John Prior, James Black, Paul Gillam of Numis Securities Ltd acted as broker while Frank Buhagiarand and Elisabeth Cowell of St Brides Partners acted as public relations advisor to Bacanora Minerals.

Bacanora Minerals Ltd. (TSXV:BCN) completed the acquisition of 50% interest in Zinnwald Lithium Project from SolarWorld Aktiengesellschaft (XTRA:SWVK) on March 9, 2017.