Standard Lithium Comments on Short Seller Report
February 03 2022 - 3:34PM
Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), is issuing the
following statement in response to the false and misleading report
(the “report”) from Hindenburg Research.
Standard Lithium believes the report is clearly
intended to benefit Hindenburg Research, which itself has disclosed
that it stands to profit in the event that the stock price of
Standard Lithium declines. Standard Lithium cautions investors not
to make decisions based on this report and instead strongly
encourages them to consult credible and informed sources, including
Standard Lithium’s filings with the Canadian securities regulatory
authorities and the U.S. Securities and Exchange Commission prior
to making investment decisions.
Standard Lithium
ManagementSince joining the Company as Chief Executive
Officer in March 2017, Robert Mintak has built a large and dynamic
team with a broad and diverse skill set. Under Mr. Mintak’s
leadership, management is executing a clear strategy, which has
been to build a large asset base in a region which supports project
development and to develop and de-risk a bespoke DLE technology
that can be deployed using Standard Lithium’s and its partner’s
lithium brine assets. To date, management and the entire Standard
Lithium team have achieved substantial progress by completing
several scale-ups of the technology, successfully operating the
demonstration plant at the facility in Arkansas since May 2020 and
advancing the project towards commercialization (see news release
dated Jan 20th 2022).
Asset BaseManagement has
sourced and developed a significant asset base over the last five
years with several strategic partners. These current projects now
include, among others, developments in southern Arkansas in
partnership with LANXESS Corporation and Tetra Technologies, as
well as the Mojave Project in southern California in partnership
with National Chloride.
Intellectual Property and R & D
CostsAll of the Company's patent applications are active
and continue to be prosecuted in the ordinary course. The Company
has a routine and established process for seeking to register
patent rights in the United States, which involves various levels
of review, response and refinement. In addition, the Company has
concurrent PCT applications pending with respect to these
inventions, through which it is seeking to obtain patent rights
outside of the United States.
It is claimed in the report that only
approximately CDN $ 1.7 mm has been spent on research and
development. This figure is incorrect and does not include either
the CDN $ 29,409,930 spent on the various pilot and demonstration
plants that has been capitalized, or the CDN $ 6,932,598 spent on
operating expenses at our pilot and demonstration plant, both of
which constitute our ongoing R&D program, and are disclosed as
of September 30, 2021 in the Company’s most recent financial
statement and the end of year statement as at June 30, 2021.
The Company is committed to developing its
projects in collaboration with its strategic partners, and is
confident in its lithium extraction technology and Demonstration
Plant and will maintain its focus on executing its strategic plans
and progressing towards definitive feasibility and
commercialisation at the Lanxess facility. The Company will not be
providing further comment on the report at this time.
About Standard Lithium
Ltd.Standard Lithium is an innovative technology and
lithium development company. The Company’s flagship project is
located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations. The Company
operates its first-of-a-kind industrial-scale direct lithium
extraction demonstration plant at Lanxess’s south plant facility in
southern Arkansas. The demonstration plant utilizes the Company’s
proprietary LiSTR technology to selectively extract lithium from
Lanxess’s tail brine. The demonstration plant is being used for
proof-of-concept and commercial feasibility studies. The scalable,
environmentally friendly process eliminates the use of evaporation
ponds, reduces processing time from months to hours and greatly
increases the effective recovery of lithium. The Company is also
pursuing the resource development of over 30,000 acres of separate
brine leases located in southwest Arkansas, referred to as the
South West Arkansas Lithium Project, and approximately 45,000 acres
of mineral leases located in the Mojave Desert in San Bernardino
County, California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American under the trading symbol
“SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”.
Please visit the Company’s website
at https://www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.Robert Mintak,
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. This news release may contain certain
“Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily 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 risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
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. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
For further information contact:
LHA Investor Relations
David Barnard
+1 415-433-3777
standardlithium@lhai.com
info@standardlithium.com
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/
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