South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBD), is pleased to announce that it has submitted the Planned Economic Analysis ("PAE") and the request for the final mining license ("concessão de lavra") to the Brazilian Mining Authority ("ANM") on August 15 th 2022 for the Claims 872.7352010, 872.7362010, 871.0532011 and 871.5242013 which is where the Phase 2 and 3 facilities are planned. The proposed PAE doubles the Santa Cruz production capacity presented in the previously released PFS (March 2020) and incorporates a third phase of project development. The planned production schedule follows:
In February of 2022 (See Press Releases from February 9 th and 24 th ) the final exploration reports for all of the Company's 13 claims were approved by the ANM. The PAE for 872.737/2010 was previously submitted August 1 st , 2022 (See Press Releases from August 2 nd ). The approval of the PAEs and mining licenses is the final step in securing the LOM mining license for each of the exploration claims and converting them to mining concessions. The environmental field work for the 3 phased production schedule is scheduled to begin in Q3 of 2022, and the Company intends to submit all the environmental documents for review and comment by early Q1 of 2023.
Phase 1 operations are fully licensed with a trial mining license ("GU") and associated environmental license. South Star has paid the municipal building permit for construction of the Phase 1 plant, mine and infrastructure, and the Company anticipates the permit should be issued by Itabela shortly.
In addition, the three tonnes of ore from the Ceylon Graphite Project in Coosa County, Alabama have been delivered to North Carolina State Mineral Research Laboratory ("MRL") and testing should begin shortly (See Press Releases from May 3 rd ). The goal of the program is to create a representative 1 tonne ore sample to retest and confirm processing methods and reagents from previous process work. The small-scale pilot test will also generate approximately 15-18kg of concentrates (> 94% Cg) as well as intermediate products and tailings samples for future geotechnical, chemical, and physical testing programs to better characterize the ore, the tailings as well as final concentrates. The Company anticipates the pilot plant program should be finalized in November 2022. The concentrates will then be used to test for a variety of value-add products as well as minerology, similar to the testing program completed on Santa Cruz Graphite concentrates (See March 1, 2021 press release).
Richard Pearce, CEO of South Star, said, "We submitted 4 additional PAEs incorporating a third phase doubling the production to 50,000 tpy and adding future operational flexibility. The 5 areas we have submitted requesting the definitive mining license incorporate all the facilities and structures required for Phase 2/3 and contain the main 7.5km strike that has been identified. All the 43-101 reserves estimated to date are located on these 5 claims, and we are open at depth and in both directions along strike. Our goals are to work towards having the mining licenses and environmental permits for the 5-7 priority claims approved around the time we are commissioning our Phase 1 facilities in mid 2023. This will allow us to advance quickly with Phase 2/3 financing alternatives. We have also started the pilot plant testing program on Ceylon ore and look forward to reviewing those results in November. We will work hard with our partners to have the first two new graphite mines in the Americas brought online and the first in the United States. We have two great assets in key jurisdictions and an experienced team with the technical and commercial expertise to bring these operations online and be profitable moving forward. An introductory overview video of the Ceylon Project has been added to our website and posted to social media."
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q3 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR)
Email: invest@southstarbatterymetals.com +1 (604) 706-0212 x3002
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
The green energy industry is booming. Unprecedented positive trends seen year after year present junior mining companies with exceptional growth potential as vital minerals like graphite and lithium needed to power alternative energies surge in demand.
Market research estimates that worldwide graphite output needs to increase by nearly 500 percent by 2050 in order to meet growing demand for energy storage. If you are an investor looking for exposure in this market, there is not better time to invest
South Star Mining (TSXV:STS,OTCQB:STSBF) is set to contribute to filling this global graphite demand. It currently operates its flagship Santa Cruz graphite project in the mining-friendly jurisdiction of Brazil. The project is nearing construction and is slated for the first production in 2022.
“This is a production story, it’s not something that’s going to take years to come to life. We have 12 months of construction and commissioning already scheduled,” stated South Star CEO Richard Pearce.
The company operates in what is arguably the best region worldwide to be developing a new graphite project. Brazil currently produces upwards of 90,000 tonnes of graphite on an annual basis and has a significant internal demand for the product, which advantageously positions South Star as a first mover in the South American graphite production space. More than that, once in production, South Star will become the first new graphite producer in the Americas in a decade.
The flagship Santa Cruz graphite project sits in the second largest flake graphite producing district in the world. This robust project hosts the perfect storm of large flake ore mineralization and production quality concentrates of over 95 percent purity.
South Star has been quick to advance its flagship asset for production readiness. In October 2020, the Phase 1 environmental permit was approved, and in December 2020, South Star released exciting news that it received the mining permit for its 5,000 tonnes per year (tpy) Phase 1 pilot plant. Permitting and licensing for Phase 2 operations are already underway and documents will be submitted in December 2021.
Phase 1 development projections for Q4 2022 position the company for its larger-scale concentration plant. This should advance the Phase 2 schedule by approximately 12 months.
The company plans to continue its development plans towards Phase 1 production in Q4 2022. Leveraging the rapidly growing graphite demand and positive market outlook, South Star aims to become a significant producer in the battery metals space.
South Star projects it will be ready for commercial production in late 2022. Since its conception, South Star has been quick to begin constructing and commissioning the necessary infrastructure and parameters for production. The company intends to start small and scale up operations in a well-engineered multi-phase plan to control risks.
In recent news, South Star Mining is providing disclosure regarding the security package regarding the $US28 million streaming agreement with Sprott for the Santa Cruz Graphite Project in Brazil. South Star Graphite Canada, discloses that, per the promissory note, the company’s obligations are guaranteed. This is limited to certain collateral subject to the initial share pledges. The funding agreement is further guaranteed by SSGCC, Brasil Graphite, and Brazil Grafite Mineração.
South Star Mining’s management team includes experienced mining heavyweights, mine builders and operators. The unparalleled local expertise, proven track records of success and vested interest in company success prime South Star for exceptional growth and project achievements.
The Santa Cruz graphite project consists of 13 approved exploration licenses covering approximately 13,000 hectares in the Bahia State of Brazil, the second largest flake graphite producing district in the world.
Extensive development has been completed to date on the property, including over 7,000 metres of drilling and a successful pilot plant test on over 30 tonnes of mineralized material. In 2017, the South Star completed a PEA technical report for the project that indicated resources of 14,990,400 tonnes at 2.70 percent graphite and inferred resources of 3,572,100 tonnes at 2.90 percent graphite. An NI 43-101 PFS and updated resource estimate have also been completed.
Phase 1 operations included a 5,000tpy fully licensed pilot plant. Phase 2 operations represent a larger scale concentration plant with 25,000 tonnes per year planned production scalability and environmental work program scheduled. The company plans to continue its development plans towards Phase 1 production in Q4 2022.
South Star Mining recently received a streaming agreement through Sprott, worth up to $US28 million to further pursue this project. On May 18, 2022, South Star commenced its groundbreaking start of Phase 1 construction.
The property hosts sizable geologic upside, with 95 per cent of the project unexplored. After financing, South Star intends on developing the project’s 10 to 15 drill targets and marketability of Santa Cruz’s high purity flake production.
South Star Mining identified a project on the northeast end of the Alabama Graphite Belt. The property covers approximately 500 acres, positioned in Coosa County. It’s a historic mine, active during both of the World Wars. Historically, the Ceylon Graphite mine targeted outcropping graphite mineralization, with an average between three and five percent carbon. The mineralization is at the surface, where the graphite host was originally mined with shovels and excavators. This shows potential upside for modern mining approaches.
South Star is preparing for its first phase exploration, with initial work including RC drilling to further define the extent and structure of the deposit. It will be combined with additional field mapping and surface sampling. This first phase is tentatively scheduled to begin early in 2022.
Subsequent phases will include diamond core drilling, bench and pilot scale metallurgy, preliminary resource estimation and engineering. South Star will also continue to expand and develop the excellent relationships with the community, as well as with local, state and federal agencies, originally established by the Charge Minerals’ team.
The Alabama Graphite Project recently received results from a regional-scale and local geologic and structural mapping and sampling program. It showed over 29 trenches, totalling 2,769 linear meters, dug to a two-meter depth. The results resulted in upwards of 765 samples, plus standards and duplicates, being analyzed. The GIRCU Laboratory in Guangzhou, China tested 10 representative samples. It indicated a crush-grind-flotation concentration of 96 to 97 percent, with recoveries of approximately 86 percent. The study described the ore as well-liberated and easy to process.
Richard Pearce is an entrepreneur and founding partner with over 20 years of experience in planning and managing complex operations throughout the Americas. He has been based in Brazil since 2008 and worked throughout the country. He has a wide range of consulting and advisory experience including technical services, project & asset development, corporate advisory services, business administration and incorporation services, deal origination, mergers and acquisitions advisory, construction, and operations. He is based out of São Paulo, Brazil and is a native speaker of English, as well as fluent in Portuguese and Spanish. Country experience includes Canada, the US, and most countries throughout Latin America. He is passionate about supporting companies and helping them grow and explore the Brazilian markets. He is also a qualified person (QP) as defined by NI 43-101.
Marc Leduc is a mining engineer and geologist with over 30 years of experience involving all aspects of the development, operations, planning, and evaluation of mining projects including over 20 years in Latin America. Leduc served as the President and CEO of Luna Gold, operator of the Aurizona mine in Brazil, from 2015 to 2016. He holds a bachelor’s of science in mining engineering, with honours, from Queen’s University and a bachelor’s of science in Geology from the University of Ottawa.
Bennett Liu joins South Star from Red Fern Consulting, a full-service accounting group that provides financial and support services for public companies including accounting, regulatory compliance, audit management, and financial reporting. Liu has served as chief financial officer for multiple publicly traded companies, including TSXV- and CSE-listed enterprises, with a focus on the resource sector. He received his bachelor’s of technology in accounting degree from the British Columbia Institute of Technology.
Eric Allison has over 36 years of experience in the natural resource industry, working in technical, business, project development, and management roles. He formerly served as CEO and COO of Brazahav Resources, a private entity developing a brownfield gold mine project in Brazil. Previously, he was the director of research and chief geologist at Casimir Capital, specializing in junior mining companies and served as the director of business development at Sempra Commodities. Over his career, Allison has also served in various roles for Cyprus Amax Minerals, Amax Energy, SPG Exploration, and Texaco. He has served on the boards of several private and public companies.
Felipe Holzhacker Alves is a professional mining engineer with a master’s degree in political economics of resources from the Colorado School of Mines. He is a Brazilian native who combines international capital markets experience with an extensive local network of governmental and regulatory agencies, resource financiers, and technical, legal, and tax consulting services. Alves is the founder and CEO of Frontera Minerals, a Brazil-focused exploration and project development company. He previously held various roles at Rand Merchant Bank, where he was mainly responsible for Latin American Investments. His technical experience includes roles at open pit and underground mines. He is currently a board member of Trek Mining and the president of Brazilian Commission for Resources and Reserves (CBR), Brazil´s equivalent to NI 43-101 in Canada.
Daniel Wilton has 25 years of experience in mergers and acquisitions, corporate finance, and principal investing in the mining sector. He was most recently a partner at Pacific Road Capital Management, a mining-focused private equity investment firm with approximately C$800 million under management. At Pacific Road, Wilton reviewed a number of projects in Brazil, led the investment in Luna Gold, now Equinox Gold, and financed the development of the Aurizona gold project through critical pre-feasibility and permitting activities. Prior to joining Pacific Road, his roles included managing director and head of the Global Mining and Metals Group at National Bank Financial and other corporate finance and mergers and acquisitions roles at global institutions based in London, Toronto, and New York.
Julio Da Silva is a mechanical engineer and project manager with over 22 years of experience in the mining and mineral resource sector in Brazil. His expertise includes operations, maintenance, engineering, construction, open-pit mining, metallurgy, placing plants on care and maintenance, mine start-up, quality assurance and control, inventory controls, security, logistics, and the general operations of mine management. He has held various senior management positions at Mineração Morro Verde, Luna/Trek, Yamana, and Aura Minerals. He has degrees in mechanical engineering and project management and is a native Portuguese speaker with intermediate English.
Marcia Cota is a finance professional with more than 20 years of experience in controls, treasury, finance, data analysis, ERP implementation, tax, audits, cash flow management, logistics, budgeting, and forecasting. She has held several senior management positions in Brazil and overseas with Net Brasil, W Torre, Genea Angola, Locar Guindastes e Transportes, and Mineração Morro Verde. She has a master’s of business administration with a specialization in advanced finance analysis. She is a native speaker in Portuguese and fluent in English.
Antonio Assis has over 30 years of sales and marketing experience, with much of that time spent in the natural flake and synthetic graphite markets. He has a long, successful career and has held various senior sales, marketing, and business development positions with Syrah Resources, Nacional de Grafite, Technografit, and Grupo Unimetal. Throughout his career he has worked on overseeing sales teams, creating marketing plans to increase exposure and sales, and developing extensive commercial relationships in the industrial and value-add graphite markets in more than 50 countries around the world. His expertise includes prospecting, sales, marketing, customer relations, technical performance, customer support, contracts, and negotiations. He has degrees in business administration as well as marketing and sales, in addition to being fluent in Portuguese, English, and Spanish.
Castro is a mechanical engineer with over 25 years of engineering, design, construction, and project management experience, with most of that expertise focused in the mining and mineral resource space in Brazil. Castro has been involved with large construction projects with CAPEX of over US$100M, as well as overseeing large teams associated with EPCM projects. He has held various senior project management positions with Lyon Engineering, Beadell, Luna, and Ausenco. He has degrees in mechanical engineering, business administration for engineers, and workplace safety engineering. Castro is native Portuguese speaker and fluent in English.
Luciano Lazaro is an experienced supply chain manager with more than 30 years of experience with supply chain, procurement, logistics, COMEX, contracts, and planning and controls. He has held several senior positions with Vale, Ericsson Telecommunications, Brazilian Pipeline Carriers, Anglo Ferrous, Aura Minerals, Ferrous Resources, Luna, and Mineração Morro Verde. He has degrees in economic sciences, urban and regional planning as well as project management. He is a native speaker of Portuguese and fluent in English.
South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBD), is pleased to announce that it has finalized the agreement for the land purchase required for construction of the Phase 1 mine and plant facilities as well as the first two to three years of operations at its Santa Cruz Graphite Project in Bahia, Brazil.
In addition, South Star has submitted the Planned Economic Analysis ("PAE") and the request for the final mining license ("concessão de lavra") to the Brazilian Mining Authority ("ANM") on August 1 st , 2022 for the Claim 872.737/2010, which is where the Phase 1 facilities are currently being installed. The proposed PAE doubles the Santa Cruz production capacity presented in the previously released PFS (March 2020) and incorporates a third phase of project development. The planned production schedule follows:
In February of 2022 (See Press Releases from February 9 th and 24 th ) the final exploration reports for all of the Company's 13 claims were approved by the ANM. The approval of the PAE and mining license is the final step in securing the LOM mining license for each of the exploration claims and converting them to mining concessions. The Company plans to submit the PAE and the request for the final mining license for 4 additional claims in the next 10 days and all the remaining claims by the end of the year. The environmental field work for the 3 phased production schedule is scheduled to begin in Q3 of 2022, and the Company intends to submit all the environmental documents for review and comment by Q1 of 2023.
Phase 1 operations are fully licensed with a trial mining license ("GU") and associated environmental license. South Star has paid the municipal building permit for construction of the Phase 1 plant, mine and infrastructure, and the Company anticipates the permit should be issued by Itabela shortly.
Richard Pearce, CEO of South Star, said, "The initial land purchase agreement for Phase 1 operations of approximately 325 hectares has been finalized and registered at title office so that all the Phase 1 operations will be on our own property. It is always advantageous to have the mine and facilities under our direct control. We submitted the PAE incorporating a third phase doubling the production to 50,000 tpy and adding future operational flexibility. We plan on submitting all the PAEs by the end of 2022 and will work towards having the mining licenses and environmental permits for the 5-7 priority claims approved around the time we are commissioning our Phase 1 facilities in mid 2023. This will allow us to advance quickly with Phase 2/3 financing alternatives. The municipal building permit is the final approval we need to start the Phase 1 construction. The permit fee was paid, and we anticipate the approval in short order. We continue to execute our business plan in a disciplined, responsible manner on our march to being the first new graphite production in the Americas. Site preparation, grading and earthworks, as well as security installations, roads and other infrastructure will be the first order of business. I'd like to thank the mayor and his team from Itabela for continued support of South Star, and we look forward to beginning Phase 1 commercial production in mid-2023."
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q3 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer For additional information, please contact:
South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com +1 (604) 706-0212 x3002
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it has completed a non-brokered private placement of units (the "Private Placement" or the "Offering") for total proceeds of C$1,906,990. The majority of participation in the Private Placement was with key institutional investors and insiders. Net proceeds from the Private Placement will be used for advanced materials sample preparation, commercial agreements, project finance and general working capital requirements for the Company.
The Private Placement consists of 3,467,254 units priced at post-consolidation price of C$0.55 per unit (the "Units"). Each Unit consists of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$1.25 per common share for a period of five years from the date of issue. The securities are subject to a four-month hold period from the date of closing and approval by the TSXV, expiring October 24, 2022.The Company issued an aggregate of 1,636 finders' warrants in connection with the Private Placement (equal to 6% of the number of Units sold to subscribers introduced to the Company by the finders) and $54,300 in cash finders' fees were paid to certain finders (equal to 6% of the gross proceeds of the offering sold to subscribers introduced to the Company by the finders).
If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$2.50 on a post-Consolidation basis for each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.
Two directors, including a member of management, and one officer of the Company subscribed in the private placement for an aggregate of 1,071,817 units for gross proceeds of $589,500. Each transaction with the directors and officer constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions under section 5.5(a) and section 5.7(1)(b) from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the transaction, insofar as it involves related parties, does not exceed 25% of the Company's market capitalization (as determined under MI 61-101). The Company did not file a material change report at least 21 days before the closing of the private placement as the details of the private placement and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on a expedited basis for sound business reasons.
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR)
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
South Star Battery Metals Corp. (" South Star " or the " Company ") (TSXV: STS) (OTCQB: STSBF) announces that it is proceeding with its previously announced share consolidation on the basis of five (5) pre-consolidation common shares for one (1) new post-consolidation common share (the " Consolidation "). Effective at market open on Wednesday, June 22, 2022, the Company's common shares will commence trading on a post-consolidation basis. The Company's name and trading symbol will remain unchanged.
The Consolidation will reduce the number of common shares issued and outstanding from 102,533,520 to approximately 20,506,704 common shares after rounding adjustments. No fractional common shares will be issued as a result of the Consolidation. All fractional shares resulting from the Consolidation will be rounded down to the nearest whole number and the fractional share will be cancelled.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-consolidation common shares for new share certificates or Direct Registration System (DRS) advice statements representing post-consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the Consolidation.
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: the Consolidation, moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is announcing that it is repricing the previously announced (May 19, 2022) non-brokered private placement of units (the "Private Placement" or the "Offering") to raise approximately C$2,000,000 in order to better reflect the current market conditions for common shares of the Company. On a pre-consolidation basis, the Offering will be repriced from C$0.15 per unit (the "Units") to C$0.11 per unit and consist of approximately 18,181,818 Units. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.25 per common share for a period of five years from the date of issue.
All other terms and conditions of the Offering remain unchanged. The closing of the Offering is subject to customary conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV"). The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities will be subject to a four-month hold period from the date of closing. The Private Placement is subject to a 25% over-allotment option and to an acceleration clause. See below for further details.
Common Shares issued pursuant to the Private Placement will be issued on a post-Consolidation basis. The Warrants issued in the Consolidation will be issued on a post-Consolidation basis, and upon the completion of the Consolidation will automatically be adjusted to the post-Consolidation terms disclosed above (five pre-Consolidation Warrants will entitle the holder to acquire one post-Consolidation Warrant at a price of $1.25).
If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$0.50 on a pre-Consolidation basis for each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce the signing of a Letter of Intent ("LOI") with Graphex Technologies, LLC ("Graphex") to jointly develop a manufacturing and processing facility for battery anode material. The parties intend to develop a definitive agreement by October 31, 2022 to share expertise and technology for the design, construction and operations of a battery anode material processing facility. Graphite feed stock is expected to be provided by South Star's Santa Cruz Graphite Mine in Brazil and Ceylon Graphite Mine in the United States. The goals of the joint venture are to have a centrally located, vertically integrated supply chain for active battery anode and value-added materials supplied by two high-quality, scalable graphite operations in two strategic and stable jurisdictions in the Americas. The Companies previously announced a LOI to pursue a binding 5-year offtake agreement (March 24 th 2022)
Richard Pearce, CEO of South Star, said, "We are breaking ground on Santa Cruz Graphite Mine in June, 2022 and have commercial production planned for Q2 of 2023. The Ceylon Project in Alabama is advancing well, and we are starting metallurgy and battery testing programs. We are pleased to be further developing a long-term, strategic relationship with Graphex at a critical moment in the energy transition revolution. Graphex has been producing and selling high-quality battery anode material for a long time, and similar to us, looking to expand operations in the US. South Star believes that the only way to meet the growing demand is for experienced companies to develop strategic partnerships that accelerate the vertically integrated production of high-quality products that can be consistently delivered in a responsible and profitable manner. This partnership will benefit both parties and allow us to quickly deliver critical battery anode and other value add materials for clients in strategic locations around the world. Reliable, secure supply chains are the key to the world's ability to execute on the exciting energy transition revolution underway, and South Star is pleased to be part of this paradigm shift."
John DeMaio, CEO of Graphex Technologies said, "We look forward to collaborating with South Star to explore the exciting prospects of diversifying the upstream supply of graphite to the global EV ecosystem. The volume, quality, and stability of supply from their assets in Brazil and the U.S. coupled with our proven expertise in delivering high-volume, high-quality anode material would have significant positive impact on the industry's ability to meet production projections for EVs in the coming years and decades."
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis, and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. and South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR) +1 (604) 706-0212 x3002 Email: invest@southstarbatterymetals.com
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This news release and the Updated Technical Report contain references to inferred resources. The Report is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; how the obligations under the Agreement will be further guaranteed and secured; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Provided by GlobeNewswire via QuoteMedia
Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") announces that its Board of Directors has adopted a shareholder rights plan (the "Shareholder Rights Plan") to help ensure the fair treatment of all Electric Royalties shareholders in connection with any take-over bid for the outstanding common shares of the Company
The Shareholder Rights Plan is effective immediately but is subject to ratification by shareholders of the Company at its 2022 annual general meeting. If ratified, the Shareholder Rights Plan would have a term of three years.
The Shareholder Rights Plan is similar to rights plans adopted by other Canadian companies and ratified by their shareholders. It was not adopted in response to any specific proposal or intention to acquire control of the Company.
The Board of Directors considered a number of factors in adopting the Shareholder Rights Plan. The Board of Directors believes that the Shareholder Rights Plan benefits shareholders by providing a substantially greater opportunity to protect the interests of all shareholders in the event that the Company is put in play through a hostile take-over bid.
The Shareholder Rights Plan is subject to customary stock exchange approval and execution of a definitive agreement with the Company's transfer agent. A copy of the Shareholder Rights Plan will be available once executed with the transfer agent under the Company's profile on www.sedar.com .
On Behalf of the Board of Directors Brendan Yurik CEO
About Electric Royalties Ltd . Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 19 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.
For further information, please contact: Brendan Yurik CEO, Electric Royalties Ltd. Phone: (604) 364‐3540 Email: Brendan.yurik@electricroyalties.com www.electricroyalties.com
Scott Logan Renmark Financial Communications Inc. Phone: (416) 644-2020 or (212) 812-7680 Email: slogan@renmarkfinancial.com www.renmarkfinancial.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.
News Provided by ACCESSWIRE via QuoteMedia
Battery Mineral Resources Corp. (TSXV: BMR) ("BMR" "Battery" or the "Company") is very pleased to announce the appointment of Julia B. Aspillaga Rodriguez ("Julia Aspillaga") to the board of directors of the company. Julia Aspillaga is a mining executive and partner of several mining exploration companies having worked in Chile and in several other Latin American countries since the 1980's. At present, Miss Aspillaga is Managing Partner of Andeak Global Management, a firm providing mining exploration services to several international companies, including Lowell Mineral Exploration, Orestone Resources (Canada), and Emerita Resources which has exploration projects in Spain.
Miss Aspillaga studied at the Pontifical Catholic University of Chile, graduating as an English teacher in 1977, then completed studies and graduated in Business Administration in 1979. Miss Aspillaga has participated in the discovery and development of several mining projects, including as a partner of Dr. David Lowell in the San Cristobal gold project, in Region II, Chile at the end of the 1980's. In the 1990's she was manager of Bema Gold in Chile, a company that developed the Refugio gold deposit in Region III, Atacama-Chile, that was previously exploited by Kinross Gold Corp. (Canada). From the year 2000 to date, Miss Aspillaga has participated as manager and/or management advisor for various international companies including Mineral Resource Development (Great Britain), Yorkton Securities (Canada), Endeavour Financial (Canada), Galileo Minerals (Canada), and Global Hunter Corp (Canada).
Battery's Chairman of the Board of Directors Lazaros Nikeas states, "On behalf of the Board of Directors, we are delighted to welcome Julia to the Board of Directors of BMR. Julia's decades of experience in the discovery and development of mining projects throughout Chile and Latin America will be invaluable as we progress towards accomplishing our goals of restarting mining operations at Punitaqui, establishing positive cash flow and using Punitaqui as a platform to scale the Company."
Corporate Update - Mine Manager & Water Supply
The company is delighted to announce that it has hired Mr. Giglio Barlaro Anes as the Punitaqui Mine General Manager. Mr. Barlaro, a native of Chile, is a mining engineer and holds a Master's degree in Business Administration with more than 25 years of experience in the areas of operations, technical services and projects in open pit and underground mining. Most recently, Mr. Barlaro was Mine Operations Manager from 2020 to 2022 at Newmont Mining's Cerro Negro underground gold mine in Argentina, one of the largest underground gold mines in Latin America. Prior to that, Mr. Barlaro was Mine Operations Manager at Lundin Mining's Candelaria mining complex in Chile that includes three underground copper mines and a large open pit operation from 2015 to 2020. Mr. Barlaro has also held senior operational roles with Codelco, Sociedad Química y Minera (SQM), Anglo American and SCM at mines in Chile as well as at Homestake Mining (a division of Barrick Gold) in Argentina.
BMR is also pleased to announce it has secured additional water supply for the resumptions of operations at its Punitaqui copper mine complex. The Company is currently able to source water from Company owned wells on its property and has now added an additional supply of water for Punitaqui. The company has secured procurement for a minimum of 400,000 and a maximum of 600,000 cubic meters of water per year through an agreement with local Chilean water supply company, SAGA. Between the water BMR is able to pump from its own wells and this new supply agreement with SAGA, BMR is confident it has a sufficient supply of water to resume full operations at its Punitaqui copper mining complex.
Battery CEO Martin Kostuik states: "We are thrilled to welcome Giglio as the Mine General Manager of the Punitaqui mine. As we transition into a cash-flow generative copper producer in the near-term, Giglio's experience and successful track-record of mine management, project and technical management, including mine start up, will prove especially valuable. We look forward to welcoming him to the growing operational team and also to the local Chilean communities of Punitaqui and Ovalle."
About Battery Mineral Resources Corp.
Battery Mineral Resources ("BMR") is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral's mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, and copper), in North America, South America and South Korea, to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a potential near-term resumption of operations in late 2022 of the Punitaqui Mining Complex, a past copper-gold producer, in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Minerals Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol "BMR" and on the OTCQB under the symbol "BTRMF". Further information about BMR and its projects can be found on www.bmrcorp.com.
For more information, please contact: Martin Kostuik, CEO Phone: +1 (604) 229 3830 info@bmrcorp.com
Mars Investor Relations +1 (604) 335-1976 bmr@marsinvestorrelations.com
Harbor Access Corp. 475-477-9402 jody.kane@harbor-access.com Twitter: @BMRcorp_ www.bmrcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to complete the Debenture offering, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether because of new information or future events or otherwise, except as may be required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135322
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Xantippe Resources Ltd is a mineral exploration company. The company operates various mineral projects which include the Graphite project, Base Metal project, Lithium project, and Gold project. The Group operates as two segments, which are Mineral Exploration and Evaluation within Australia and South Korea. It has acquired the southern cross gold project in Western Australia.
Sayona Mining Ltd is a mineral exploration and development company. The principal activity of the company is the identification, acquisition and evaluation of mineral exploration assets, focusing on lithium and graphite. The company's primary focus is the development of the advanced stage Authier lithium project in Quebec, Canada. It also holds interests in East Kimberley Graphite Project and West Australian Lithium Project.
About Altech Chemicals Ltd: Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia. HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.
Contact: Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com
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[subscribe_company_profile use_post="101821931"]
Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) ("Electric Royalties" or the "Company") would like to inform the market of the termination of the previously announced agreement signed on June 27, 2022 to sell 1% of its existing 1.5% Net Smelter Royalty ("NSR") on the Seymour Lake Lithium Deposit in Ontario, Canada, to Lithium Royalty Corp. ("LRC"). LRC has informed the Company that it is unwilling to waive certain conditions to closing set out in the agreement and the Company accepts LRC's position that the agreement has terminated. Accordingly, Electric Royalties will retain it's 1.5% NSR on the Seymour Lake lithium deposit
Brendan Yurik, CEO of Electric Royalties,commented:"Since signing of the initial LOI an estimate that doubles the mineral resource1 at Seymour Lake has been announced. Further, the price of lithium carbonate has neared all time highs in China of more than $70,000 a tonne2. These factors, coupled with the property owner having just raised A$55M3 to further development at Seymour Lake mean that we are delighted to retain our full 1.5% NSR."
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 19 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.
For further information, please contact:
Brendan Yurik CEO, Electric Royalties Ltd. Phone: (604) 364‐3540 Email: Brendan.yurik@electricroyalties.com www.electricroyalties.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.
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