Rain City ends Avonlea option, pursues tech licence

Mr. Benjamin Hill reports RAIN CITY RESOURCES SEEKS ALTERNATIVE RELATIONSHIP WITH AVONLEA Rain City Resources Inc. has elected not to make the second payment of $1.2-million (U.S.) pursuant to its option agreement, originally dated June 12, 2024, as amended, between the company and Avonlea Environmental Technologies Corp., thereby triggering the termination of the same. Rain is in active discussions with Avonlea about a licensing arrangement granting the company access to Avonlea's ACCELi cavitation technology. This alternative arrangement would allow the company to accelerate a path to commerciality for both Rain and Avonlea; something which was not possible under the terms of the original option agreement. Commenting, Benjamin Hill, chief executive officer of Rain, said: "The termination of the option agreement was taken following discussions with our financial advisers and Avonlea. By seeking a licensing arrangement with Avonlea, Rain will seek to fast-track opportunities in South America leaving Avonlea to build on the success of the pilot plant in Pennsylvania. We see this as a positive step forward for the company." Further announcements on the same will be made in due course. About Rain City Resources Inc. Rain is an integrated critical mineral technology and project development company committed to addressing the environmental, social and economic challenges of lithium and critical mineral extraction from brine. By advancing scalable, water-conscious DLE (direct lithium extraction) solutions, Rain is helping drive the transition to a clean energy future. We seek Safe Harbor.