Aug 2 (Reuters) - Power Metals Corp -
* Power Metals Corp and MGX Minerals Inc form accretive partnership over lithium portfolio
* XMG will acquire all of company’s current U.S. Petrolithium brine assets
* XMG will take a 20 percent working interest in all of company’s current hard rock assets
* Power Metals - XMG will have right to purchase additional 15 percent working interest of Co’s hard rock assets for 36 months for a total of C$10,000,000
* XMG will pay to PWM 3,000,000 common shares of XMG.
* XMG will receive call option to purchase up to 10,000,000 common shares of PWM at a price of C$0.65 per share for 36 months Source text for Eikon: Further company coverage: