TORONTO, May 14, 2018 /PRNewswire/ --
Stina Resources Ltd. ("Stina" or the "Company")
(CSE: SQA) (OTCQB: STNUF) (Frankfurt: OIX) - a global leader in
vanadium resources and energy storage technology systems, is
pleased to announce that it has changed its name to CELLCUBE ENERGY
STORAGE SYSTEMS INC. The common shares of the Company will
commence trading on the Canadian Securities Exchange ("CSE")
under the new symbol "CUBE" effective on or about Thursday, May 17, 2018.
Stina's name change reflects the Company's new strategic focus
on full vertical integration in the energy sector. From vanadium
exploration and production through to the manufacturing and sale of
vanadium redox flow batteries, marks a new chapter in the Company's
growth and broader energy driven commitment including its expertise
in driving the innovation needed to shape the future of the energy
storage industry.
There are currently over 100 CellCube batteries in use globally.
CellCube vanadium redox flow batteries ("VFB") are used for
a variety of purposes including grid storage; microgrids; off-grid
storage for solar and wind power; diesel power replacement; back-up
power systems; farming applications; electrical vehicle charging
stations; industrial plants and office building applications; and
emergency power sources.
The patented CellCube battery, the most commonly installed VFB
in the world, developed by Gildemeister Energy Storage GmbH
("Gildemeister") was recently acquired by the Company. The
patented CellCube battery amongst all other assets acquired from
Gildemeister will now operate under the Company's Austrian
subsidiary Enerox GmbH.
Storage markets are estimated to reach 40 GW by 2030 according
to Bloomberg New Energy Finance's research, and are estimated to
spend over $100 billion in the ramp
up phase over the same time period following the same rapid rise of
solar installations occurring from 2000 to 2015.
"2018 marks an important point in
the evolution of the Stina organization. This new name change will
allow us to better emphasize our target driven sales and continue
our healthy growth," stated Mr. Brian
Stecyk, President and CEO.
About Stina Resources Ltd.
Stina is a vanadium resource company exploring to become a fully
integrated producer of vanadium and vanadium electrolytes for the
battery storage industry. The Company's vanadium mineral resources
are located on the Bisoni McKay and Bisoni Rio properties in
norther Nevada. Stina's recent
acquisition of the assets of Gildemeister, now operating under its
subsidiary Enerox GmbH coupled with the coming name change to
CellCube Energy Storage Systems Inc., positions the Company to
capitalize on the demand for vanadium redox flow batteries
worldwide to help meet the world's rapidly growing energy and
storage needs.
About Jet Power and Control Systems
Stina recently acquired Jet Power, a North American leading-edge
provider of custom and off-the-shelf electrical equipment and
systems for heavy power users, pipeline companies, refineries,
manufacturers, municipalities and infrastructure providers. Its key
products include electrical switchgear, motor control switchers,
and solar power inverters. With the acquisition of Jet Power, Stina
will be able to accelerate its sales of CellCube batteries
worldwide and offer complementary products and services.
About Braggawatt Energy Inc.
Stina recently acquired a 10% interest in Braggawatt.
Braggawatt's end-to-end online financing process revolutionizes
enterprise clients' ability to adopt cost-saving distributed energy
solutions, without upfront cost and with savings & process
certainty. Braggawatt's custom financing and ownership options
empower small and medium-sized enterprises as well as their
regional solution providers to accelerate the adoption of clean,
onsite energy solutions.
This news release contains certain "forward-looking
statements" within the meaning of Canadian securities legislation.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur; they are generally, but
not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects",
"aims", "potential", "goal", "objective", "prospective", and
similar expressions, or that events or conditions "will", "would",
"may", "can", "could" or "should" occur. Forward-looking statements
are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made
and they involve a number of risks and uncertainties. Certain
material assumptions regarding such forward-looking statements are
discussed in this news release and the Company's
annual and quarterly management's discussion and analysis filed
at http://www.sedar.com . Except as required by the
securities disclosure laws and regulations applicable to the
Company, the Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change.
Neither the CSE nor regulation
services providers (as that
term is defined in the policies of the CSE) accepts responsibility
for the adequacy or accuracy of this release.
For further information, please contact:
Mr. Brian Stecyk,
President and CEO
Stina Resources Ltd.
Telephone: +1-800-882-3213
Email: info@stinaresources.com
http://www.stinaresources.com
SOURCE Stina Resources Ltd.