PHILADELPHIA, Sept. 18, 2019 /PRNewswire/ -- Livent
Corporation (NYSE: LTHM) is pleased to announce a collaboration
with E3 Metals Corp. (TSXV: ETMC) ("E3 Metals") whereby the two
companies will seek to advance the development of E3 Metals'
proprietary direct lithium extraction process. Work under
this agreement will focus on E3 Metals' petro-lithium brines
located in the Leduc Formation in Alberta, Canada.
Livent will contribute its technical expertise and up to
US$ 5.5 million to the joint
development project. In exchange, upon completion of the
project and satisfaction of the full US $5.5
million in funding, Livent will have the opportunity to
convert its investment into a 19.9% ownership stake in E3 Metals
and appoint one member to its Board of Directors, provided Livent
maintains not less than a 5% equity interest.
Paul Graves, president and chief
executive officer of Livent commented, "Livent has been a pioneer
in the lithium industry for over 60 years. Collaborating with
E3 Metals provides an opportunity to build on our rich heritage of
innovation and to bring exciting new possibilities to our customers
around the world."
About Livent
For more than six decades, Livent
has partnered with its customers to safely and sustainably use
lithium to power the world. Livent is one of only a small number of
companies with the capability, reputation, and know-how to produce
high-quality finished lithium compounds that are helping meet the
growing demand for lithium. The company has one of the broadest
product portfolios in the industry, powering demand for green
energy, modern mobility, the mobile economy, and specialized
innovations, including light alloys and lubricants. Livent employs
approximately 800 people throughout the world and operates
manufacturing sites in the United
States, England,
India, China and Argentina. For more information, visit
livent.com.
About E3 Metals Corp.
E3 Metals is a
lithium development company with 6.7 million tonnes lithium
carbonate equivalent (LCE) inferred mineral resources1
in Alberta. Through the
commercialization of its proprietary ion exchange lithium
extraction technology, E3 plans to quickly move towards the
production of high purity, battery grade, lithium products.
E3 Metals combines a significant in situ resource and innovative
technology solutions that have the potential to deliver lithium to
market in one of the best jurisdictions in the world. The
development of this lithium resource through brine production is a
well-understood venture in Alberta, where this brine is currently being
produced to surface through extensive oil and gas development.
For more information about E3 Metals, visit
www.e3metalscorp.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements in this news release are
forward-looking statements. In some cases, you can identify
these statements by forward-looking words such as "may," "might,"
"will," "should," "expects," "intends," "plans," "anticipates,"
"believes," "estimates," "predicts," "potential," or "continue,"
the negative of these terms and other comparable terminology. These
forward-looking statements, which are subject to risks,
uncertainties and assumptions about Livent, may include projections
of Livent's future financial performance, Livent's anticipated
growth strategies and anticipated trends in Livent's business.
These statements are only predictions based on Livent's current
expectations and projections about future events. There are
important factors that could cause Livent's actual results, level
of activity, performance or achievements to differ materially from
the results, level of activity, performance or achievements
expressed or implied by the forward-looking statements, including a
decline in the growth in demand for electric vehicles; adverse
global economic conditions; the success of Livent's research and
development efforts; volatility in the price for performance
lithium compounds; risks relating to Livent's planned production
expansion and related capital expenditures; reduced customer
demand, or delays in growth of customer demand, for higher
performance lithium compounds, the potential development and
adoption of battery technologies that do not rely on performance
lithium compounds as an input; risks inherent in international
operations and sales, including political, financial and
operational risks specific to Argentina, China and other countries where Livent has
active operations; customer concentration and the possible loss of,
or significant reduction in orders from, large customers; failure
to satisfy customer quality standards; fluctuations in the price of
energy and certain raw materials; failure to achieve the expected
benefits of Livent's separation from FMC as well as the other
factors described under the caption entitled "Risk Factors" in
Livent's 2018 Form 10-K filed with the Securities and Exchange
Commission on February 28, 2019, the
first quarter 2019 Form 10-Q filed with the Securities and Exchange
Commission on May 8, 2019, and the
second quarter 2019 Form 10-Q filed with the Securities and
Exchange Commission on August 7,
2019. Although Livent believes the expectations reflected in
the forward-looking statements are reasonable, Livent cannot
guarantee future results, level of activity, performance or
achievements. Moreover, neither Livent nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements. Livent is under no duty to update any
of these forward-looking statements after the date of this news
release to conform its prior statements to actual results or
revised expectations.
- E3 Metals has released information on three 43-101 Technical
Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater
Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE
(inferred), is dated effective October 27,
2017, and the North Rocky Resource Area (NRRA) Technical
Report was dated effective October 27,
2017, identifies 0.9Mt LCE (inferred). A third report for
the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE
(inferred) and was filed on June
15th 2018, effective June
4th 2018. All reports are available on SEDAR
(www.sedar.com).
Media contact: Juan Carlos Cruz +1.215.299.6170
juan.carlos.cruz@livent.com
Investor contact: Daniel Rosen +1.215.299.6208
daniel.rosen@livent.com
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SOURCE Livent Corporation