Standard Lithium Signs Joint Venture Term Sheet With Global Specialty Chemical Company LANXESS
November 12 2018 - 6:30AM
Standard Lithium Signs Joint Venture Term Sheet With Global
Specialty Chemical Company LANXESS
Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV: SLL) (OTC-NASDAQ INTL DESIGNATION: STLHF) (FRA:
S5L), announces that it has signed a term sheet (the “Term Sheet”)
with global specialty chemical company LANXESS Corporation
(“LANXESS”) for a contemplated joint venture in the commercial
production of battery grade lithium from brine extracted from the
Smackover Formation in South Arkansas.
Standard Lithium is working with LANXESS in a
phased approach as per terms of a binding memorandum of
understanding, to develop commercial opportunities related to the
production, marketing and sale of battery grade lithium products
extracted from brine produced from the Smackover Formation.
Under the proposed terms of the joint venture,
LANXESS would contribute lithium extraction rights and grant access
to its existing infrastructure to the joint venture, and Standard
Lithium would contribute existing rights and leases held in the
Smackover Formation and the pilot plant being developed on the
Property, as well as its proprietary extraction processes including
all relevant intellectual property rights. Upon proof of concept,
LANXESS is prepared to provide funding to the joint venture to
allow for commercial development of the future commercial project,
and it is anticipated that the joint venture will include options
for Standard Lithium to participate in project funding on similar
terms. The final terms of the joint venture and any funding
arrangement remain subject to completion of due diligence,
technical proof of concept, normal economic viability studies (e.g.
Preliminary Feasibility Study etc.) to confirm the technical
feasibility and economic viability of the project, and the
negotiation of definitive agreements between the parties.
About Standard Lithium Ltd.The Company’s
flagship LANXESS 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 utilising the Company’s proprietary selective extraction
technology. The Company is also pursuing the resource development
of over 30,000 acres of separate brine leases located in
southwestern Arkansas and approximately 45,000 acres of mineral
leases located in the Mojave Desert in San Bernardino County,
California.
Investors are cautioned that without a
Pre-Feasibility or Feasibility study prepared in accordance with NI
43-101 there can be no assurance that the Term Sheet will result in
an actual producing lithium mine.
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”. Please visit the Company’s
website at www.standardlithium.com.
On behalf of the Board,
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.
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