Green Technology Metals (ASX:GT1) has signed a $20M equity subscription agreement and an offtake term sheet with LG Energy Solution (LGES) for the Seymour lithium project in Ontario.

LGES will subscribe for over 21.7 million new shares at $0.92 per share for proceeds of $20M, and the subscription price represents 7.89% of GT1's ordinary shares.

GT1 will sell LGES 25% of its spodumene concentrate production from Seymour for five years from the commencement of commercial production at the site.

Shares of Green Technology Metals are up 2.27% this month.