Author: admin

Arkansas Lithium Passes Second Purification Test

We were unable to send the article.

The Canadian startup dedicated to creating a new lithium industry in Arkansas has proved a second method of purifying Arkansas-produced lithium chloride into high-quality lithium carbonate for the battery market, the company announced Monday.

Standard Lithium Ltd. of Vancouver, which has been extracting lithium from underground brine piped to the surface at an industrial-scale test facility in El Dorado for almost a year, said it has produced 99.985% pure lithium through a standard refinement process.

Tests completed by Veolia Water Technologies in Plainfield, Illinois, demonstrated that Standard’s Arkansas product “can be converted into better-than battery quality lithium carbonate using established OEM carbonation technology,” the company said in a statement.

The company has partnered with Lanxess Corp., which mines bromine from the same south Arkansas Smackover Formation brine, using the German multinational corporation’s existing well and pipeline infrastructure to draw lithium out after the bromine is secured.

The carbonization process completed in Illinois is the second method Standard Lithium has tested in de-risking what it calls its Arkansas Lithium Project. The first used Standard’s patent-pending technology, called SiFT, to make the battery-quality carbonate. The second process employed conventional technology widely used in the industry and regularly done by Veolia.

“Concentrated lithium chloride solution produced by Standard Lithium was sent to Veolia and was then converted to lithium carbonate using a conventional flowsheet,” the company said in a news release. “This involves additional concentration; chemical softening/purification; initial conversion to solid lithium carbonate; redissolution to a bicarbonate solution and final crystallisation, washing and drying of battery quality lithium carbonate.”

The company said it was important to prove two methods of converting the El Dorado lithium chloride into battery-purity carbonate, describing “successful demonstration of alternative technologies” as a key to reduce project risk and enjoy “greater flexibility regarding the final flowsheet that will be deployed at a commercial scale.”

Now Standard is studying whether it could be economical to directly convert lithium chloride from the El Dorado plant into battery-quality lithium hydroxide, a different ingredient in battery production.

“We’ve now demonstrated that we can convert to battery quality lithium carbonate using the Company’s SiFT technology; that we can get to the same end-product using established technology developed and sold by global OEMs; and now we’re looking to add battery quality lithium hydroxide to the product offering,” said a statement from Andy Robinson, Standard’s president and COO. “In the background, we continue to rapidly advance both project and corporate development work. We’re excited about reaching the various milestones ahead of us and, if we’re successful, taking this globally important project into commercialization.”

Standard Lithium has permits in Arkansas for more than 150,000 acres of brine operations. It assembled its unique, modular, industrial-scale Direct Lithium Extraction Demonstration Plant at LANXESS’ South Plant facility near El Dorado. The recent tests have been part of Standard’s proof-of-concept work on a novel lithium extraction process that is “scalable, environmentally-friendly” and capable of eliminating the use of evaporation ponds and reducing processing time from months to hours, the company has told Arkansas officials and reporters for two years.

Standard Lithium is listed on the TSX Venture Exchange under the trading symbol “SLL”; quoted on the OTC – Nasdaq Intl Designation under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L.”

We Insure Inc. Continues Rapid National Expansion, Adds New Office in Ft. Lauderdale, Owned by Michael Internoscia

We Insure Inc. Continues Rapid National Expansion, Adds New Office in Ft. Lauderdale, Owned by Michael Internoscia – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Monday, March 1, 2021 · 536,129,440 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Oro X and Mines and Metal Trading (Peru) PLC Announce Financing as Part of Business Combination to Create Silver X Mining Corp.

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES/

  • Oro X and Latitude Silver have engaged Echelon and Red Cloud as lead agents for best-efforts private placement
  • Will raise minimum $14,000,000
  • Financing is condition of Oro X and Latitude Silver merger

VANCOUVER, BC, March 1, 2021 /CNW/ – ORO X MINING CORP. (TSXV: OROX) (OTC Pink: WRPSF) (“Oro X” or the “Company“) and Mines and Metals Trading (Peru) PLC (“MMTP“, also commercially known as “Latitude Silver”) are pleased to announce that they have entered into an engagement letter with Echelon Wealth Partners Inc. and Red Cloud Securities Inc., as co-lead agents (together, the “Co-Lead Agents” on their own behalf and on behalf of a syndicate of agents including Canaccord Genuity Corp., and Mackie Research Capital Corporation, collectively with the Co-Lead Agents, the “Agents“) in connection with a “best-efforts” private placement (the “Offering“) of subscription receipts (“Subscription Receipts“) of MMTP Finco Inc. (“MMTP Finco“), a wholly-owned subsidiary of MMTP.  The Offering is expected to have aggregate gross proceeds of a minimum of $14,000,000. Each Subscription Receipt will convert into one common share in the capital of MMTP Finco (each, an “MMTP Finco Share“) upon the satisfaction of the Escrow Release Conditions, as described below. 

Oro X Mining Corp. Logo (CNW Group/Oro X Mining Corp.)

The Offering is a condition precedent to the completion of the business combination (the “Transaction“) announced by Oro X and MMTP on February 11, 2021.  Concurrent with the completion of the Transaction, Oro X will also acquire all of the issued and outstanding MMTP Finco Shares pursuant to an amalgamation of MMTP Finco and a newly formed wholly-owned subsidiary of Oro X (the “Finco Amalgamation“). Pursuant to the Finco Amalgamation, the MMTP Finco Shares will be exchanged for common shares of Oro X on the basis of one Oro X Share to be issued for every one MMTP Finco Share. The Oro X Shares issued pursuant to the Finco Amalgamation will not be subject to any hold period under applicable Canadian securities laws.

The gross proceeds from the issuance of Subscription Receipts will be deposited with a subscription receipt agent (the “Subscription Receipt Agent“) in escrow (the “Escrowed Proceeds“) pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement“). It is anticipated that the Escrowed Proceeds will be released by the Subscription Receipt Agent to MMTP Finco upon receipt of a notice (the “Release Notice“) to the Subscription Receipt Agent from Oro X, MMTP and MMTP Finco indicating (a) all conditions to the completion of the Transaction and the Finco Amalgamation (other than the release of the Escrowed Proceeds) have been satisfied or waived to the satisfaction of the Agents, acting reasonably, (b) the receipt of all court, regulatory (including stock exchange), shareholder and third-party approvals, if any, required in connection with the Transaction and the Finco Amalgamation, (c) the Oro X Shares issuable upon completion of the Transaction and the Finco Amalgamation being conditionally approved for listing on the TSX Venture Exchange and the completion, satisfaction or waiver of all conditions precedent to such listing, other than the release of the Escrowed Proceeds, (d) the distribution of: (i) the securities underlying the Subscription Receipts, including the Oro X Shares to be issued in exchange for the MMTP Finco Shares pursuant to the Finco Amalgamation; and (ii) the Oro X Shares to be issued in exchange for MMTP Shares pursuant to the Transaction, being exempt from applicable prospectus and registration requirements of applicable securities laws, and (e) Oro X and MMTP not having committed any breach of the agency agreement for the Offering that has not been cured within five (5) days of the receipt of written notice from Agents (collectively, the “Escrow Release Conditions“).

Upon and subject to the receipt by the Subscription Receipt Agent of the Release Notice, the Escrowed Proceeds shall be released to MMTP Finco and the holders of Subscription Receipts will be issued MMTP Finco Shares, which are then exchanged for common shares of Oro X on the basis of one Oro X Share to be issued for every one MMTP Finco Share pursuant to the Finco Amalgamation. 

The Agents will be granted an option to increase the size of the Offering by up to 15%, exercisable in the discretion of the Agents, in whole or in part, at any time up to 48 hours prior to the final closing date of the Offering (the “Agents’ Option“). 

In connection with the services rendered in connection with the Offering by the Agents, MMPT Finco will: (i) pay the Agents a cash commission equal to 7% of the gross proceeds of the Offering; and (ii) issue to the Agents warrants (the “Agents’ Warrants”) equal to 7% of the number of Subscription Receipts sold pursuant to the Offering , both including the Agents’ Option, if exercised but not including up to $5,000,000 in subscriptions from the president’s list, on which a cash commission of 2% and Agents’ Warrants equal to 2% of the number of Subscription Receipts sold will be paid by MMTP Finco.

Proceeds of the Offering are expected to be used for mine development and exploration activities at MMTP’s Recuperada Mine, and for general working capital.  The Offering is expected to close on or about March 31, 2021.

About Oro X Mining

Oro X Mining is a Canadian exploration company currently targeting high grade gold exploration in Peru. The Company’s flagship asset is the Coriorcco Gold Project in Ayacucho, Peru. Founders and management have a successful track record of increasing shareholder value. For more information visit our website at www.oroxmining.com.  

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

ON BEHALF OF THE BOARD

Luis Zapata
CEO & Director

Neither 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 release.

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the terms of the Offering, the use of proceeds from the Offering and the completion of the Offering, the Transaction and the Finco Amalgamation. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. In particular, there is no assurance that the Offering will be successful or that the conditions precedent to the Offering, the Transaction and the Finco Amalgamation will be satisfied on the terms currently proposed or at all. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

SOURCE Oro X Mining Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2021/01/c2803.html

Colliers to Settle Long-Term Incentive Arrangement and Initiate Orderly Elimination of Dual Class Voting Structure

Colliers to Settle Long-Term Incentive Arrangement and Initiate Orderly Elimination of Dual Class Voting Structure – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Monday, March 1, 2021 · 536,123,303 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Standard Lithium Successfully Produces >99.985% Purity Battery Quality Lithium Carbonate Using OEM Technology and Commences Lithium Hydroxide Conversion Program

Standard Lithium Successfully Produces >99.985% Purity Battery Quality Lithium Carbonate Using OEM Technology and Commences Lithium Hydroxide Conversion Program – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Monday, March 1, 2021 · 536,117,859 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Ultra Resources Inc. Announces Private Placement

Ultra Resources Inc. Announces Private Placement – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Saturday, February 27, 2021 · 536,016,774 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

When Economical plans to hold final demutualization vote

An all-policyholders’ vote on demutualization is scheduled this spring, Economical Insurance announced this week.

“The process for getting this meeting on the calendar is on track,” said John Bowey, chairman of Waterloo, Ont.-based Economical, in an update posted Feb. 22 to the insurer’s website.

Anyone who had non-mutual or mutual policies with Economical as of Nov. 3, 2015, is eligible to vote. Before they vote, they will need to register using their policy number and postal code at Economical’s Join our Future web page.

The meeting will be held virtually because of the ongoing COVID-19 pandemic.

“Our planning for the special meeting has entered a new phase focused on ensuring policyholders are kept as up to date as possible,” Bowey wrote in the Feb. 22 update.

Economical is encouraging all eligible policyholders who have not already done so to register online.

Before Economical can send eligible policyholders a meeting notice, the insurer needs to get approval to schedule the meeting from the federal Office of the Superintendent of Financial Institutions. Several more steps are needed before Economical can demutualize; assuming it does, it will be traded on the Toronto Stock Exchange. Demutualization is subject to approval by two-thirds of approximately 630,000 eligible policyholders.

Assuming more than two thirds vote in favour, this would give Economical the green light apply to the federal finance minister for approval to demutualize. Once approval is received, Economical can begin the process to have an initial public offering of stock.

One Economical becomes publicly-traded, it would be able to raise money from capital markets to finance mergers and acquisitions, as well as other strategic investments.

Economical is so far the first and only federally-regulated P&C insurer whose board of directors has voted in favour of demutualization. The insurer currently has roughly 900 mutual policyholders. More than 99% of eligible mutual policyholders voted in favour of demutualization in early 2019. That came shortly after Economical published a long and complex conversion proposal on its website stipulating what benefits mutual and non mutual policyholders could get from demutualization.

Four Canadian life insurers demutualized in 1999-2000.

The federal government passed regulations in 2015 allowing demutualization of P&C insurers, leading Economical’s board to formally start the process in November of that year.

Feature image via iStock.com/AndreyPopov

Miami Investor/Broker

Miami Investor/Broker – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Saturday, February 27, 2021 · 536,009,782 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Just Energy Reports Fiscal Third Quarter 2021 Results

Just Energy Reports Fiscal Third Quarter 2021 Results – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Friday, February 26, 2021 · 535,998,022 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Delta 9 Launches Province Wide Delivery in Saskatchewan and Reserve Online in Alberta

Delta 9 Launches Province Wide Delivery in Saskatchewan and Reserve Online in Alberta – Toronto Stock Exchange News Today – EIN Presswire

Trusted News Since 1995

A service for global professionals · Friday, February 26, 2021 · 535,993,238 Articles · 3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?

Copyright © 2019. TSX Stocks
All Rights Reserved