Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an
innovative technology and lithium project development company,
provides an update on several corporate and project developments.
Key Highlights:
- Key management additions to drive project
execution
- Master Service Agreement with Telescope Innovations to
perform CO2 sequestration
R&D
- DFS/FEED Study Award
- Senior management increase
shareholdings
The Company recently added key personnel to the
executive and management team in newly created positions to expand
project delivery expertise in support of its commercial scale
developments. Jason Tielker P.Eng. has taken on the role of Vice
President Project Delivery, and Angus Remfry CEng has commenced as
Director Project Delivery. Mr. Tielker’s initial focus is
delivering Standard Lithium’s first plant to commercial operation,
currently being planned for the Lanxess South Facility. Mr.
Remfry’s primary responsibility is developing the South West
Arkansas Project to the PFS stage, and drive several current
project development initiatives. Collectively Mr. Tielker and Mr.
Remfry have decades of experience managing large energy, mining and
infrastructure projects through design and construction in North
America and other parts of the world.
The Company is currently reviewing Pre-FEED
deliverables related to the first commercial plant (see news
release from January 2022) with a goal to awarding the FEED and
Definitive Feasibility Study work no later than August.
As part of the Company’s continued focus on
reducing carbon intensity (see news releases from September 2021,
and May 2022), it has signed a Master Service Agreement (“MSA”)
with Telescope Innovations Corp. (“TELI”) to conduct novel
CO2-focussed R&D. TELI is an innovative chemical technology
company headed by Professor Jason Hein. Professor Hein has worked
successfully with Standard Lithium previously and is the inventor
of the Company’s proprietary SiFT lithium carbonate crystallization
technology. TELI is working initially on understanding how CO2 may
be permanently sequestered by the Company as part of normal brine
reinjection activities. This R&D program will then expand to
consider how CO2 may also be used as an alternative reagent at
several points in the Company’s process flowsheet.
Dr. Andy Robinson, President and COO of Standard
Lithium commented, “Standard Lithium and our contractors have been
working diligently through the Pre-FEED process to refine designs
and work towards the award of the FEED and DFS contract. We have
been adding several key internal resources and are delighted to
have Jason and Angus on board to help us accelerate all our
projects; they bring invaluable big-project delivery expertise that
will be needed as we move towards construction on our first
commercial project and continue to advance our pipeline of
development projects. As we contemplate the ever more significant
role of CO2 in the future economy, our engagement with Telescope
Innovations is very timely. We have the potential to actively
decarbonize our business and sequester significant quantities of
CO2 deep underground as part of our future lithium extraction and
brine recycling operations, and as such, a thorough understanding
of the chemistry and technology required is paramount. Standard
Lithium has previously benefitted from Professor Hein’s expertise
and is delighted to work with him and Telescope’s world-class team
to better understand this potential future value creation
stream.”
The Company also announces that Robert Mintak,
Chief Executive Officer of the Company, Dr. Andy Robinson,
President of the Company, and Kara Norman, Chief Financial Officer
of the Company, have exercised a total of 1,400,000 incentive stock
options (the “Options”) previously scheduled to
expire on June 16, 2022. The Company has received proceeds of
$1,344,000 from the exercise of the Options. To partially fund the
option exercise and withholding tax obligations, Mr. Mintak, Mr.
Robinson, and Ms. Norman, disposed of a total of 449,545 common
shares from their existing holdings, and may in the future dispose
of additional shares in order to satisfy tax obligations associated
with the Options. As a result of the exercise of the options, and
the subsequent dispositions, Mr. Mintak, Mr. Robinson and Ms.
Norman have increased their overall ownership interest in the
Company by 950,455 common shares.
About Telescope Innovations
Corp.
Telescope is a chemical technology company
developing scalable manufacturing processes and tools for the
pharmaceutical and chemical industry. The Company builds and
deploys new enabling technologies including flexible robotic
platforms and artificial intelligence software that improves
experimental throughput, efficiency, and data quality. Dr Andy
Robinson, President of the Company and Robert Mintak, CEO of the
Company are also independent directors of TELI. However, the MSA is
not considered a related party transaction within the meaning of
Multilateral Instrument 61-101 – Protection of Minority Security
Holders in Special Transactions, and has been reviewed and approved
by the independent directors of the Company.
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 (DLE) 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.
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 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 plans at the Lanxess South Facility and the South West
Arkansas Project, the award of the FEED and DFS contract, the
engagement with TELI, 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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