On August 25, 2026, Lithium Ionic Corp. completed the sale of its Salinas group of lithium properties, including the Baixa Grande lithium resource located in Minas Gerais, Brazil, to PLS Brasil Mineração Ltda., a wholly-owned subsidiary of PLS Group Limited, for total consideration of US$37.5 million. Lithium Ionic received US$30 million in cash at closing and is entitled to receive a further US$7.5 million in deferred consideration. Through its wholly-owned subsidiary Neolit Minerals Participações Ltda, Lithium Ionic retained a 2.0% royalty on future spodumene sales from the properties.
Cassels acted for Lithium Ionic.