About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
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Lake Resources (ASX: LKE,OTCQB:LLKKF) is a lithium exploration and development company focused on producing high-purity, sustainable lithium at a low-cost from its three wholly-owned lithium brine projects in Argentina. The projects lie within one of the most sizable, wholly-owned land packages amongst the largest players within the Lithium Triangle — home to 40 percent of the world's lithium supply.
Lake Resources is primarily advancing its wholly owned Kachi lithium project which is approximately 100 kilometres south of the FMC Lithium (NYSE: LTHM) Hombre Muerto lithium brine production site. The property hosts a 2018 mineral resource estimate of 4.4 million tonnes of contained lithium carbonate equivalent. The report outlines an indicated resource of one million tonnes of lithium carbonate equivalent and an inferred resource of 3.4 million tonnes lithium carbonate equivalent.
March 2021, Lake Resources released a pre-feasibility study (PFS) for its Kachi lithium project, including a video webinar recording detailing the results. The PFS includes an annual production target of approximately 25,500 tonnes of battery-grade lithium carbonate using Lilac Solutions' direct lithium extraction (DLE) technology. The study was based on Kachi's indicated resource of 1.01 million tonnes lithium carbon equivalent (LCE) at 290 mg/L lithium. The study projects an operating cost of US$4,178 per tonne, totalling approximately US$544 million in total capital expenses.
Lake Resources has partnered with Lilac Solutions to build a direct extraction pilot plant at the Kachi project. Lilac Solutions has developed a proprietary ion-exchange technology for the extraction of lithium from brine resources. It’s capable of achieving high recoveries, at minimal cost, with rapid processing times, all while providing numerous environmental benefits —- particularly water preservation. The proposed plant involves strategic partnerships with Ford Motor and Hanwa. Katchi aims to provide the world’s cleanest lithium using its unique procedure.
Together with its technology partner Lilac Solutions, Lake Resources has begun producing samples of lithium chloride from its direct lithium extraction pilot plant module. The samples taken from the pilot plant have consistently returned high concentrations of lithium chloride, at an average of 99.97 percent purity. The process results in less water use, limited land use, and reduced carbon dioxide emissions. Its technologically disruptive approach is designed specifically for scalability, with a modular structure that, “...produces high purity lithium, and can be ramped up quickly from pilot to commercial,” according to Steve Promnitz, managing director.
Lake Resources has appointed Hazen Research, a Colorado-based independent assay laboratory, to produce larger samples of its battery-quality lithium carbonate. Through its partnership with Hazen, Lake Resources intends to offer its product to potential off-takers and other interested parties. In addition to its partnerships with Hazen and Lilac, Lake Resources has appointed Novonix Battery Technology Solutions, a Nova Scotia-based independent testing and development laboratory, to create lithium battery test cells using Lake's lithium carbonate.
The Cauchari and Olaroz lithium brine projects are adjacent to one another and are surrounded by major players such as Lithium Americas (TSXV:LAC), SQM (NYSE:SQM), Ganfeng Lithium, and Advantage Lithium(TSXV:AAL). Lake Resources is currently drilling on the Cauchari project and plans to commence drilling at Olaroz once finished at Cauchari. Drilling at Cauchari has so far returned values up to 540 mg/L lithium on the project. Lake Resources hopes to prove that both projects are extensions of the neighbouring projects.
Lake Resources' wholly-owned Kachi lithium brine project encompasses 36 mining leases that cover 69,000 hectares in Catamarca province, Argentina. The property is approximately 100 kilometers south of the Livent (NYSE:LTHM) Hombre Muerto lithium brine production site. The Kachi property also covers a 20-kilometer by 15-kilometer salt lake.
In November 2018, Lake Resources released its maiden resource for the Kachi project. The report outlined a resource estimate of 4.4 million tonnes of contained lithium carbonate equivalent. The report included an indicated resource of one million tonnes of lithium carbonate equivalent and an inferred resource of 3.4 million tonnes lithium carbonate equivalent.
"We are very pleased to report such a significant maiden JORC mineral resource estimate for Kachi. The team advanced drilling within 12 months on an undrilled project and defined a large resource and located a project that stands alongside the largest lithium projects in Argentina," said Lake Resources Managing Director Stephen Promnitz. "We will expand the resource with more drilling and move into a pre-feasibility study using conventional and a direct extraction technology from Lilac Solutions which indicate high recoveries, low costs and a reduced time to production of lithium."
In 2017, Lake Resources completed a sampling and drill program at Kachi as well as a geophysical survey. The company collected 40 surface samples along the border of the salt lake that returned values up to 322 mg/L of lithium and 209 mg/L of lithium. The geophysical survey outlined a large, deep basin with brines between 400 meters to 800 meters deep. There is the potential to expand the brines at depth and to the south and west.
Drilling resulted in the discovery of a large, deep lithium brine-bearing basin that is similar in size to producing lithium projects across the globe. Highlights from the program include 308 mg/L of lithium and 60 meters grading 326 mg/L of lithium. The results also contained low impurities and magnesium content. Six of the seven holes completed remain open at depth.
In September 2018, Lake Resources partnered with Lilac Solutions to further the development of the Kachi project. Lilac Solutions has developed a proprietary ion-exchange technology for the extraction of lithium from brine resources.
The technology can achieve high recoveries with minimal costs and has rapid processing times when compared to using evaporation ponds. It also provides numerous environmental benefits as it eliminates the need for evaporation ponds and decreases the footprint of the operation. The technology also allows for the remaining brine to be re-injected into the aquifer.
"Lake Resources is delighted to be partnering with Lilac on a rapid, direct extraction process of lithium from brines. We have reviewed a number of technologies, and we consider Lilac to offer a compelling opportunity to be reviewed in tandem with conventional methods as part of a pre-feasibility study," said Promnitz, "The potential to reduce the timeline to production at low-cost is a major advantage in the current market with a constrained supply of lithium. Increased recoveries indicate that 300 mg/L lithium brine would produce similar volumes of final product as 600 mg/L lithium brine."
Lilac and Lake Resources plan to build a pilot plant at Kachi to demonstrate the viability of the technology. Lake Resources expects to be able to increase its lithium grade to 25,000 mg/L lithium and to produce a clean lithium hydroxide or lithium carbonate product for the battery market. Lake Resources is targeting pre-production at Kachi in early 2020 at the pilot plant.To aid in the development of the pilot plant and PFS, Lake Resources has appointed SD Capital Advisory Limited to secure up to US$25 million to finance the project's development.
In May 2020 Lake Resources released a PFS on the Kachi property with a target of producing 25,500 tonnes of battery-grade lithium carbonate equivalent (LCE), using Lilac's direct extraction technology at an operating cost of US$4,178 per tonne. The study was based on an indicated resource of 1.01 million tonnes LCE at 290 mg/L lithium. "The PFS highlights the cost-competitive nature and scale of the flagship Kachi project using direct extraction, but has the benefit of producing high-purity products capable of attracting premium pricing, while being a leader in sustainable lithium desired by Tier-One electric vehicle makers," said Managing Director Steve Promnitz.
The company is also in discussions with various downstream partners in the battery industry to secure future offtake agreements and additional funding for the project's development. In 2022, the company announced partnership opportunities with Ford Motor and Hanwa, a Japan-based trader. The non-binding memorandums of understanding for offtake proposal of the clean lithium provides meaningful financial opportunities for the company. Lilac’s ion exchange is proven through extensive testing at the pilot plant, allowing faster-to-market, high-recovery solutions that are environmentally sustainable.
The wholly-owned Cauchari and Olaroz lithium brine projects are adjacent to one another and surrounded by significant players in Jujuy province in Argentina. The projects are adjacent to the Orocobre's Olaroz lithium brine operations and projects under development by Lithium Americas (ICX:LAC), SQM (NYSE:SQM), Ganfeng Lithium, and Advantage Lithium.
Lake Resources began drilling on the Cauchari project, which has never been drilled before, in April 2019. The company encountered conductive lithium brines with values up to 480 mg/L of lithium at depths of approximately 186 meters at Cauchari. The results compared favourably with the results from nearby pre-production areas that are currently under development.
In August 2019, Lake Resources announced its final results which included a significant high-grade lithium discovery at Cauchari. Higher grades averaging 493 mg/L lithium over 343 meters were recovered and the highest result returned 540 mg/L lithium.
Drill plans are currently in the works for Olaroz, which has not been drilled before either. Lake Resources hopes to prove that both projects are extensions of the other projects in the area and is targeting the same aquifers as its neighbours.
The 72,000-hectare Catamarca pegmatite project is located in Ancasti, Catamarca Province and is 50 kilometers east of the city Catamarca. The project is accessible year-round. The area has hosted historical small-scale production for lithium-bearing spodumene pegmatites over a 150-kilometer area. Latin Resources (ASX:LRS) holds mining leases adjacent to the property and has received results of 4.9 percent lithium oxide and 7.1 percent lithium oxide from old mine workings.
The 290-square-kilometer Paso lithium brine project is a wholly-owned project in the Jujuy Province in Argentina. The province is adjacent to the border of Chile and is immediately west of Orocobre's Olaroz lithium brine operations. Lake Resources' initial sampling program returned elevated results. The company has applied for the requisite drilling and exploration permits to continue its exploration on the property.
The Directors have solid backgrounds in minerals exploration, mining engineering, mine management, finance, law and accounting, with a wealth of international experience.
Stuart Crow has global experience in financial services, corporate finance, investor relations, international markets, salary packaging, and stockbroking. He is passionate about assisting emerging and listed companies in attracting investors and capital. Crow has gained significant experience by owning and operating his own businesses.
Dr. Nick Lindsay has over 25 years of experience in Argentina, Chile and Peru, performing in technical and commercial roles in the resources sector with major and mid-tier companies, as well as start-ups. He has a bachelor’s of science degree in geology, with honours and a master’s of business administration degree. With a PhD in metallurgy and materials engineering, Dr. Lindsay is an expert in the field. A fluent Spanish speaker, he has successfully taken companies in South America, such as Laguna Resources, which he led as managing director, from inception to listing, through to development and subsequent acquisition. Dr. Lindsay is currently CEO of Manuka Resources, an unlisted company, and has previously held the position of president of Chilean operations for Kingsgate Consolidated. He is a member of the AusIMM and the AIG and holds a Bachelor of Science (Honours) in Geology, a PhD in Metallurgy and Materials Engineering as well as an MBA.
Dr. Robert Trzebski is currently chief operating officer of Austmine and holds a degree in geology, a master’s degree in project management, a PhD in geophysics, and has over 30 years of professional experience in project management and mining services. He holds considerable operating and commercial experience in Argentina and Chile, as a non-executive director of Austral Gold since 2007, listed on the ASX and TSXV. He is chairman of the audit and risk committee at Austral Gold. His role with Austmine has allowed him to develop considerable contacts across the operating and technology space of the global resources industry. Dr. Trzebski is also a fellow of the Australian Institute of Mining and Metallurgy and is fluent in Spanish, German, and English.
Amalia Sáenz was appointed a non-executive director in July 2021. An experienced energy and natural resources lawyer based in Buenos Aires, Sáenz is assisting Lake Resources and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium in Argentina. She is a partner at the law firm, Zang, Bergel & Viñes in Buenos Aires, where she leads the firm’s energy and natural resources practice.A leading member of the Association of International Petroleum Negotiators, Sáenz has extensive experience in energy and resources, including mergers and acquisitions, financing, joint venture, and operating agreements in Argentina. She has also worked in Central Asia and the United Kingdom, gaining experience in exploration and production development across international borders and cultures
Peter is a chartered accountant with more than 20 years’ experience in all facets of financial management, asset management, and leadership. He has served in a range of positions including as CFO, company secretary, finance manager, and other senior executive positions for a number of listed and unlisted companies in the energy and natural resources sector. Among the companies Neilson has worked with are Barrick, Xstrata, and Round Oak. He has been involved in reducing operating expenses up to AU$100M through cost analysis, performance improvements and contract negotiations, acquisitions of up to $80M and managed revenues in excess of AU$5 billion.
Mr Miller has significant experience and skills in project execution, supply chains, contracts and procurement, and project optimisation. He has overseen the successful delivery of multibillion dollar projects in both Australia and international markets. He has broad experience including general management, strategic planning, supply chain, finance, legal, information technology, sustainable development and human resources in both greenfield projects and brownfield sites. His prior roles include being head of commercial operations for The Carmichael Rail Project in Queensland; Commercial Development Director at the Kamoto Copper Company Copper and Cobalt mine in Katanga province of the Democratic Republic of Congo; Manager - Contracts & Procurement for Glencore's North Queensland Metals; and Superintendent Metal Handling at Rio Tinto's Boyne Smelters Ltd.
About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
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About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
News Provided by ABN Newswire via QuoteMedia
About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
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About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
News Provided by ABN Newswire via QuoteMedia
About Lake Resources NL: Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact: For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com
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ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce that further to the news release on September 15, 2022, the Company's wholly-owned subsidiary, Naturevan Nutrition Ltd. ("Naturevan"), will further expand distribution of its products to Japan and South Korea.
Management is currently working on distribution agreements in Asia which will allow the Company to expand supply to a larger audience and enter into different distribution channels, multiplying sales and profit.
Naturevan has a unique set of products that are tailored to various audiences. Naturevan's line of diversified products offers popular health supplements in both North America and Asia. The North American marketplace is being targeted with the Company's latest news of distribution through Amazon. It is another priority for the Company to increase distribution and cater to the Asian marketplace.
Naturevan carries many top-selling Asian vitamin products such as Cissus Plus, a plant-based supplement that promotes bone health, alleviates joint pain and aids in weight loss, Albumin Max, which promotes overall immunity and Milk Thistle Liver Care, a popular anti-inflammatory herbal supplement known to treat liver and gallbladder problems.
South Korea has a growing marketplace for supplements that welcomes the success of Naturevan distribution. The South Korean vitamin market is expected to grow annually by 5.53% between 2022-2027. (Source: https://www.statista.com/outlook/cmo/otc-pharmaceuticals/vitamins-minerals/south-korea#methodology)
Additionally, a survey by Rakuten Insight reports that 82 percent (82%) of respondents in South Korea aged 55 years or older stated they took vitamin supplements for their overall health, respondents of the survey aged 45 to 54 years old reported 81 percent (81%) took vitamin supplements for overall health. (Source: https://www.statista.com/statistics/1180639/south-korea-share-of-people-taking-dietary-supplements-by-age/)
With the growing vitamin market in Asia and large percentage of people taking vitamin supplements for improved health, the Company foresees distribution into the Asian marketplace to be highly successful and maximize the Company's revenue.
"Management believes expansion of distribution to different target audiences is the key to grow Naturevan Nutrition into a top-selling vitamin supplement brand. Diversifying our products on various e-commerce platforms exposes our brand and will generate more sales and profit. The Company looks forward to growth and sharing more developments soon," said Andrew Ryu, Chief Executive Officer and Chairman of the Company.
Naturevan is a provider of natural health supplements and products that are proudly made in Canada and distributed online and through agents across Canada. Canada's natural health supplement market is globally recognized as having first-rate standards and guidelines, so consumers are getting the highest standard of nutrition.
To learn more about Naturevan and its products, visit www.naturevan.ca.
ScreenPro is a medical technology company that provides turnkey screening solutions with its proprietary medical alerting software. ScreenPro's unique access to multiple manufacturers of high-quality test kits and its strategic partnership with labs in British Columbia, Ontario and Quebec allows ScreenPro to be a full-service nationwide provider of COVID testing and breast cancer screening solutions across Canada. In addition, ScreenPro's subsidiary, Concierge Medical, is a group of board-certified physicians who provide private, discreet, and personalized healthcare to Canadians. ScreenPro prides itself in having its own medical doctors and nursing professionals with on the ground support staff and transportation, with access to high quality PPEs to ensure that clients are protected in all aspects of their testing needs. ScreenPro also newly introduced Naturevan Nutrition Ltd., to its portfolio, providing vitamins and supplements that are proudly made in Canada and distributed for sale online.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Priya Monique Atwal, Director of Communications Tel: (416) 901-5611 x 204 Email: priya@screenprosecurity.com
Andrew Ryu, Chief Executive Officer and Chairman Tel: 416-901-5611 x 201 Email: aryu@datametrex.com
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139049
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Montfort closes on the third acquisition in the past year bringing total consolidated assets to $475 million
Montfort Capital Corporation ("Montfort" or the "Company") (TSXV: MONT ) (OTCQB: MONTF) a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, is pleased to announce it has closed on the acquisition of approximately 78% of Langhaus Financial Partners Inc. ("Langhaus"). Langhaus is the parent company of Langhaus Financial Corporation ("LFC"), Canada's largest independent provider of insurance policy backed loans, with a specific focus on high-net-worth individuals and entrepreneurs. The Langhaus acquisition was previously announced on May 12, 2022 . The total common share valuation of Langhaus is $12 million and the board, management and vendors of Langhaus are at arm's length to the Company.
The acquisition was completed pursuant to a share purchase agreement, by way of a $7.02 million cash payment to the vendors plus contingent payments totaling $2.34 million to be paid upon the achievement of certain financial targets during an earn-out period. Montfort has not issued common or preferred shares as part of the purchase price.
Coincident with the acquisition, Langhaus and Montfort have entered into a lock-up agreement with certain holders of non-voting preferred shares of LFC who are also selling shareholders of Langhaus, representing approximately 53% of the outstanding preferred shares of LFC having an aggregate original purchase price of $6.57 million (the "Lock-Up Agreement"). The Lock-Up Agreement provides for a 6-month period post-closing of the acquisition for these holders of existing preferred shares of LFC to exchange their shares for a new series of preferred shares to be issued by LFC that will, subject to certain conditions, be redeemable in cash on October 3rd, 2024 for the original purchase price of the existing preferred shares of LFC and any accrued and unpaid dividends or, at the option of the holder, exchangeable into a new class or series of preferred shares of the Company having substantially similar terms and ranking on an equivalent basis to the outstanding Series A Preferred Shares of the Company, including the option to convert such preferred shares into common shares of the Company.
"We would like to welcome the Langhaus team to the family of Montfort private credit companies," said Mike Walkinshaw , CEO of Montfort . "TIMIA Capital, Pivot Financial, Brightpath Capital, and now Langhaus are leaders in their respective private credit verticals and continue to experience growth in 2022. The successful integration of Pivot has provided important experience onboarding private credit companies to the Montfort platform. With the recent close of the Brightpath and Langhaus acquisitions, we look forward to leveraging our financing relationships, back-office platform, and technology expertise to make each of these businesses more efficient and more profitable."
For fiscal 2021, Langhaus generated approximately $6.5 million in revenue with an approximate net loss of $954,000 . During the first quarter of 2022, Langhaus achieved breakeven and generated approximately $14,000 in net income. Langhaus had approximately $123.4 million in long-term debt at the December 31, 2021 year-end. (All figures reflecting consolidated information, including Langhaus' subsidiary LFC.)
For the combined entity, which now includes TIMIA Capital, Pivot Financial, Brightpath Capital and Langhaus, Montfort reports the following financial metrics:
No finder's fees were payable in connection with the proposed transaction.
In addition, the Board of Directors of Montfort approved the issuance of 1,285,000 stock options and 350,000 restricted and performance share units to members of management and employees of Montfort , Brightpath and Langhaus.
About Langhaus Langhaus Financial is the leading non-bank provider of insurance policy-backed lending solutions to high-net-worth individuals and entrepreneurs throughout Canada. Working cooperatively with Canada's major insurance companies and top advisers, the Langhaus team designs flexible lending programs in a way that best meets the needs of borrowers, with an expertise in structured finance transactions and complex borrower structures that fall outside the typical purview of Canadian banks.
About Montfort Capital Corporation Montfort manages a diversified family of specialized private credit brands that utilize focused strategies and experienced management teams combined with advanced technology to improve fee related performance. Montfort facilitates transparency for its investors through public company reporting. For further information, please visit www.montfortcapital.com .
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.
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting the future growth of the Company, the Company's future financial performance and the impact and benefits of the completion of the Company's recent acquisitions, the future financial performance of Langhaus, and the future accretive value to the Company's shareholders of the acquisition of Langhaus.
Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the following assumptions: that the Company and family of private credit companies are able to meet their respective future objectives and priorities, assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company; assumptions regarding the Company's ability to integrate its recently completed acquisitions in order to achieve anticipated benefits.
Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Montfort's business. Material risks and uncertainties applicable to the forward-looking statements set out herein include, but are not limited to, the Company having insufficient financial resources to achieve its objectives; availability of further investments that are appropriate for the Company on terms that it finds acceptable or at all; successful completion of exits from investments on terms that constitute a gain when no such exits are currently anticipated; intense competition in all aspects of business; reliance on limited management resources; risks related to the integration of the businesses of its recently completed acquisitions, general economic risks and risks related to the private credit market; new laws and regulations and risk of litigation. Although Montfort has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Montfort . Accordingly, readers should not place undue reliance on forward-looking statements. Montfort undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
View original content: http://www.newswire.ca/en/releases/archive/October2022/03/c7558.html
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Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the third round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022 for more details about Lomiko's ECOLOGO certification.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220928005630/en/
Figure 1: EV Zone Drill Hole Locations
Belinda Labatte, CEO and Director stated: "Our team is very excited to see that the results from the 14 holes drilled at the northern end of the EV Zone in 2022 demonstrate strong graphite mineralization over significant widths. Many holes intersected high grades over 110-to-120-metre intervals. The number of holes confirms the potential of this area for additional graphite resources. We look forward to more results in the next 21 holes in the EV zone which will be released as more assays are received. Our vision is to become a responsible operator and part of a climate success story in Southern Quebec."
The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive Preliminary Economic Assessment for the La Loutre project as announced in the Company's July 29, 2021, press release (see link). Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program.
The assay results reported in this press release are for the 14 holes drilled at the north end of the EV Zone. These holes were drilled to determine the northern extent of the graphite mineralization, confirm the results of the previous drilling, and provide better detail of the EV Zone in this part of the deposit. Please refer to Table 1 for the weighted average graphitic carbon-bearing drill intersections (not true thickness) and Table 2 and Figure 1 for the collar locations referred to in this press release. These results are in addition to the assay results for eighteen holes announced in Lomiko's press releases dated September 6 and 20 , 2022.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Not Sampled, abandoned hole, redrilled as LL-22-013
Open up-hole from 42.0m & down-hole from 67.5m
Open up hole from 90.0m
Open up-hole from 87.5m & down-hole from 95.0m
Open up-hole from 83.7m & down-hole from 89.7m
On the northeast side of the EV Zone, holes LL-22-011, -013, -026, -027 and -28 were drilled entirely or mostly in quartzite and encountered no or very narrow graphite mineralization within narrow paragneiss bands within the quartzite. The lack of significant graphite in these holes effectively defines the northeastern limit of the EV Zone.
Wide intervals of high- to moderate-grade graphite were encountered in holes LL-22-016, -019, -022, -024, -025, -030, -032 and -033 and narrow, moderate-grade intervals in LL-22-029 and -30 within paragneiss. Exceptional intervals of near-surface, high-grade flake graphite mineralization include 11.02% graphitic carbon ("% Cg") over 120.0 metres ("m) from 32.0 to 152.0m in hole LL-22-032 and 8.73% Cg over 110.5m from 81.5 to 192.0m in hole LL-22-019. These impressive intersections define a strong graphite trend and indicate that the EV Zone has excellent potential to continue to the northwest. Additional sampling has been done and assays are pending to fully close these intervals.
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the "Qualified Person" as that term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The drill core was logged and marked for sampling by a professional geologist. All the core was photographed as part of the logging procedure. Core samples were collected by splitting each sample interval in half lengthwise with a hydraulic core splitter. One half of the interval was returned to the core box, and the other half was placed in a plastic bag with a tag. The tag number was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-wrap. One certified reference material standard and one blank were included in each batch of 21 samples. For shipping, samples were placed in rice bags that were individually sealed with numbered, tamper-proof security tags. The rice bags were then placed on wooden pallets, secured with plastic wrapping, and delivered by truck to Manitoulin Transport Inc. for shipping to Activation Laboratories Ltd. ("Actlabs") in Ancaster, Ontario.
At Actlabs the samples were crushed to 80% passing 2mm and then riffle split to a 250g sub-sample that was pulverized to pulp 95% passing 105μm (Actlabs Code RX1). The sample pulps were then analyzed for graphitic carbon "Cg") by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the Company.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.
In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in the Bourier Project as per the option agreement announced on April 27 th , 2021 . The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
About the La Loutre Graphite Project
The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 km2).
The Property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favourable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic Estimate (PEA) which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko Metals Inc.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company's current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: current market for critical minerals; current technological trends; the business relationship between the Company and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com , and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220928005630/en/
For more information on Lomiko Metals, review the website at www.lomiko.com or please contact :
Kimberly Darlington k.darlington@lomiko.com 514-771-3398
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TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) American Manganese Inc. (the "Company"), doing business as RecycLiCo Battery Materials, is pleased to announce that the TSX Venture Exchange (the "TSXV") has consented to the Company proceeding with the change of name to RecycLiCo Battery Materials Inc
The Company will be proceeding with its name change and expects to complete the process in the coming weeks. The stock symbols for the Company on the various stock exchange will remain the same, after completion of the name change. On the TSXV the symbol will remain unchanged as "AMY"; on the OTCQB it will remain unchanged as "AMYZF"; and on the FSE it will remain unchanged at "2AM".
As requested by the TSXV, at the Company's next annual general and special meeting, the Company will seek shareholder approval for a proposed Change of Business ("COB") to become a Tier 2 Industrial Issuer on the TSXV. Full details of the proposed Change of Business will be presented in the information circular for the shareholder meeting, and the Company will be making a full filing under TSXV Policy 5.2 in connection with the COB.
The name change does not affect the rights of the Company's shareholders. There is no consolidation of capital associated with the name change. Issued certificates representing common shares of the Company will not be affected by the name change and will not need to be exchanged.
American Manganese Inc, doing business as RecycLiCo Battery Materials, is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
For more information, please contact:
Investor Services Telephone: 778-574-4444 Email: InvestorServices@amymn.com
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 release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: RecycLiCo Battery Materials Inc.
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ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce that its wholly-owned subsidiary, Concierge Medical Consultants Inc. ("Concierge"), launched personal home care services in the Greater Toronto Area (GTA). The Company plans to expand to the Vancouver area in the near future.
The personal home care service is a new healthcare solution tailored for seniors or those who are looking for at home care. Our team of healthcare professionals believe that urgent medical care doesn't have to happen in the clinic, it can happen at home. This new service brings accessible care to the patient's home and helps improve the patient's overall healthcare experience.
With the current state of the Canadian healthcare system and hospital wait times being at a record high, Canadian healthcare continues to be in crisis. Patient needs and healthcare services are in demand. Leveraging Concierge services to provide in-clinic and at home healthcare will help further expand the Company into the health care space, while providing solutions to patients who need timely care. (Source: https://toronto.citynews.ca/2022/06/10/emergency-room-wait-times-toronto/)
Home care services allow patients to receive care in the comfort of their home, enhancing quality of life and health. Our team of health care professionals will provide the following services for home care:
The Canadian home care market is expected to grow substantially as there is a rise of the elderly population and rising chronic diseases driving growth in home care. North America dominated the global home health care market in growth and is expected to increase by 8.4% to nearly $300 billion within the next four years. (Source: https://www.healthleadersmedia.com/post-acute/global-home-health-care-market-expected-increase-84-nearly-300b-within-4-years)
Additionally, Home Care Ontario reports that home care services are increasingly popular with over 150,000 Ontario citizens purchasing an additional 20 million visits of home care services annually in order to get medical care in the comfort of their own home. (Source: https://www.closingthegap.ca/home-care-costs-in-ontario-a-complete-breakdown/)
With the current demand in the healthcare system and rapid growth in the home care market, the Company is confident in the choice to expand Concierge's services.
To learn more about Concierge's Personal Home Care services and to book, please visit: https://www.conciergemedical.ca/personalhomecare
"The Company is proud to utilize Concierge Medical's capabilities in the development of home care services with our dedicated team of physicians, nurses, and personal support workers," said Andrew Ryu, Interim Chief Executive Officer and Chairman.
"Our vision for Concierge is to create a strong patient-medical professional relationship, providing passionate, empathic, and timely care to patients for all health concerns. In these trying times, immediate access to a healthcare professional can be difficult, Concierge is here to make it simple," said Dr. Jibran Sharif, President of Concierge Medical and Chief Medical Officer of the Company.
Concierge Medical Consultants is a small group of board-certified practicing emergency physicians who think that urgent care does not just happen in an ER or your doctor's office, it can happen anywhere at any time. Dr Jibran Sharif, MD, CCFP EM, RDMS, is the founder and President of Concierge Medical Consultants, he is a passionate advocate of Concierge medicine and believes that all patients should have robust, timely and personalized access to health care professionals. He earned a degree in Economics at the University of British Columbia before graduating with a medical degree and residencies in Emergency Medicine and Ultrasound at the University of Sydney, University of Saskatchewan, and the University of Calgary, respectively. He is a full time Emergency physician in the GVRD and a Clinical lecturer with the faculty of Emergency Medicine at the University of British Columbia.
For additional information, please visit Concierge's website at www.conciergemedical.ca
ScreenPro is a medical technology company that provides turnkey screening solutions with its proprietary medical alerting software. ScreenPro's unique access to multiple manufacturers of high-quality test kits and its strategic partnership with labs in British Columbia, Ontario and Quebec allows ScreenPro to be a full-service nationwide provider of COVID testing and breast cancer screening solutions across Canada. In addition, ScreenPro's subsidiary, Concierge Medical, is a group of board-certified physicians who provide private, discreet, and personalized healthcare to Canadians. ScreenPro prides itself in having its own medical doctors and nursing professionals with on the ground support staff and transportation, with access to high quality PPEs to ensure that clients are protected in all aspects of their testing needs. ScreenPro also newly introduced Naturevan Nutrition Ltd., to its portfolio, providing vitamins and supplements that are proudly made in Canada and distributed for sale online.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Priya Monique Atwal, Director of Communications Tel: (416) 901-5611 x 204 Email: priya@screenprosecurity.com
Andrew Ryu, Chief Executive Officer and Chairman Tel: 416-901-5611 x 201 Email: aryu@datametrex.com
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138001
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Montreal, Quebec - September 20, 2022 - Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the second round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 22, 2022 for more details about Lomiko's ECOLOGO certification.
The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and to build on the results of the positive Preliminary Economic Assessment for the La Loutre project as announced in the Company's July 29, 2021, press release . Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program. The initial drill program contemplated up to 18,000 meters in both zones; due to the later than anticipated permit receipt in May, the environmental conditions in the spring and summer resulted in the completion of 13,113 metres.
Belinda Labatte, CEO and Director stated: "The results from the 18 holes drilled at the southern end of the EV Zone in 2022 demonstrate strong graphite mineralization over significant widths and confirm the potential of this area for additional graphite resources. We look forward to more results in the next 35 holes in the EV zone which will be released as more assays are received. Our vision is to become a responsible operator and part of a climate success story in Southern Quebec."
The drilling at the southern end of the EV Zone was done to confirm results of the previous drilling campaigns and to test for the southward extension of the graphite mineralization. Please refer to Table 1 for the weighted averaged graphitic carbon-bearing drill intersections (not true thickness) and Table 2 and Figure 1 for the collar locations for the eight holes within the southern extension of the EV Zone referred to in this press release. These results are in addition to the assay results for ten holes announced in Lomiko's press release dated September 6, 2022 .
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Except for hole LL-22-017 which was abandoned due to technical difficulties, all the holes mentioned in this press release intersected broad zones of near surface, moderate- to high-grade flake graphite mineralization. The thickest intersection was 2.76 percent graphitic carbon ("% Cg") over 99.0 metres ("m") from 30.5 to 129.5m in hole LL-22-014. The highest-grade intersection was 11.64% Cg over 42.0m from 7.0 to 49.0m in hole LL-22-018. Additional sampling has been done and assays are pending to fully close these intervals.
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
Figure 1 : EV Zone Drill Hole Locations
The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the "Qualified Person" as that term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The drill core was logged and marked for sampling by a professional geologist. All the core was photographed as part of the logging procedure. Core samples were collected by splitting each sample interval in half lengthwise with a hydraulic core splitter. One half of the interval was returned to the core box, and the other half was placed in a plastic bag with a tag. The tag number was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-wrap. One certified reference material standard and one blank were included in each batch of 21 samples. For shipping, samples were placed in rice bags that were individually sealed with numbered, tamper-proof security tags. The rice bags were then placed on wooden pallets, secured with plastic wrapping, and delivered by truck to Manitoulin Transport Inc. for shipping to Activation Laboratories Ltd. ("Actlabs") in Ancaster, Ontario.
At Actlabs the samples were crushed to 80% passing 2mm and then riffle split to a 250g sub-sample that was pulverized to pulp 95% passing 105μm (Actlabs Code RX1). The sample pulps were then analyzed for graphitic carbon "Cg") by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the Company.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.
In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in the Bourier Project as per the option agreement announced on April 27 th , 2021 . The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
About the La Loutre Graphite Project
The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 km2).
The Property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favourable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic Estimate (PEA) which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors.
On behalf of the Board,
CEO and Director, Lomiko Metals Inc.
For more information on Lomiko Metals, review the website at www.lomiko.com or
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company's current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: current market for critical minerals; current technological trends; the business relationship between the Company and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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