Grounded Lithium Selects Koch Technology Solutions to Test Brine
CALGARY, AB, March 13, 2023 /CNW/ - (TSXV: GRD) (OTCQB: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") is pleased to announce we signed a Lithium Processing Test Work Program Agreement (the "Koch Agreement") with Koch Technology Solutions ("KTS"), a Koch Engineered Solutions ("KES") company. Under the Koch Agreement, GLC's brine will be processed using KTS's proprietary Li-Pro™ technology at a KES location in Pickering, Ontario, Canada in order to determine the efficacy of Li-Pro™ for direct lithium extraction ("DLE"). KTS and more broadly, Koch Industries ("Koch"), is a globally recognized entity that helps create value for customers across a growing portfolio of technologies. KTS is developing and leveraging synergistic technologies such as membrane filtration, ion exchange, evaporation, drying, and more to provide an optimized DLE solution. KTS has decades of experience in the development and transfer of advantaged technologies and will apply these capabilities working with GLC during this testing phase.
The selection of KTS for brine extraction testing and evaluation is in line with the Company's previous communications involving our engagement with Hatch Ltd. ("Hatch") and the process to screen a number of diverse potential DLE technologies. The selection of KTS, and a soon to be announced second candidate, stems from extensive and deliberate screening procedures conducted by Hatch and GLC's internal expertise. The Koch Agreement's scope includes brine characterization and pre-treatment, followed by scoping lithium loading, washing and elution testing.
The results from the Koch Agreement are expected to be completed in the next 6-8 weeks. Upon a review of these results, we will make a final selection of the optimum extraction technology which will form part of the preliminary economic assessment ("PEA"), expected to be filed by the end of Q2 2023.
"GLC remains committed to our vision to build a commercial resource project by leveraging the technical expertise of those focused on extraction technology," commented Gregg Smith, President & CEO. "We are delighted to be working with KTS to assess their Li-Pro™ process to determine if it supports our commerciality objective. Koch is a world-renowned company and we look forward to potentially partnering with entities such as Koch which provide scale, scope, expertise and credibility."
"We are thrilled to be selected as a potential lithium extraction solution for Grounded's lithium operations," stated Adam Sackett, KTS President. "At KTS, we are committed to developing advantaged technologies and see the potential to apply our expertise to a growing global critical minerals industry for the benefit of our stakeholders. We look forward to conducting this evaluation and are confident our process will yield positive results leading to a mutually beneficial technology partnership."
KTS is the technology licensing business of KES. KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, refining industry and the 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer's capital investments and existing manufacturing assets.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 3.7 million metric tons of lithium carbonate equivalent of inferred resource over our focused land holdings in Southwest Saskatchewan. GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng, Suryanarayana Karri, P. Geoph., Alexey Romanov, P. Geo. and Meghan Klein, P. Eng., each of whom is a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, "forward-looking statements") under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding the timing of future achievements, the ability of the Company to enhance shareholder value, commercializing the Company's projects, timing of the test results using the Li-Pro™ process, the announcement of a second technology provider, the timing of the PEA, and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC's expectation that our operations will be in Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC's periodic reports. GLC's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Grounded Lithium Corp
Please contact: Gregg Smith, President & CEO , [email protected]; Greg Phaneuf, VP Finance & CFO, [email protected]; Phone: 587.319.6220
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