04:25 PM EDT, 10/17/2025 (MT Newswires) -- ExGen Resources ( BXXRF ) after trade Friday said it signed a binding letter of intent on Oct. 8 to acquire three lithium properties and related assets in Nevada.

Per the terms, ExGen will issue 21-million shares to the sellers at closing. Of those, 18-million shares will be distributed pro rata to the vendor's shareholders. The company will also pay C$125,000 in cash --- C$75,000 upon completing due diligence or its waiver and C$50,000 at closing.

"The recent investments from the U.S. government into Nevada-based lithium developers such as Lithium Americas' Thacker Pass and positive investment sentiment reinforce the strategic importance of Nevada's lithium resources," Chief Executive Jason Riley said.

The binding LOI and the transaction are subject to exchange acceptance, the company added.

ExGen shares closed up $0.015 to $0.13 on the TSX Venture Exchange.