Standard Lithium Announces US$100 Million Immediate Financial investment From Koch Strategic Platforms
VANCOUVER, British Columbia, Nov. 24, 2021 (Globe NEWSWIRE) — Standard Lithium Ltd. (“Conventional Lithium” or the “Business”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an impressive know-how and lithium job improvement corporation, these days declared that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, will make a US$100 million expense in Typical Lithium via a direct private placement to assistance the Company’s strategic improvement plans.
US$100 million direct non-public placement (the “Direct Expense”)
Common Lithium to challenge 13,480,083 popular shares (“Typical Shares”) of the Business at a price tag of CDN$9.43 (US$7.42) for every Widespread Share
Immediate Investment follows considerable thanks diligence into Normal Lithium’s LiSTR DLE technological innovation, Demonstration Plant and venture improvement goals and,
Functions to take a look at opportunities to perform with various Koch Industries subsidiaries in important spots of alignment with Typical Lithium’s project advancement requires (the “Strategic Prospects”).
In addition to the new funds, the Business, together with quite a few Koch Industries subsidiaries, are exploring Strategic Options to perform collaboratively in quite a few critical regions. These potentially include things like functioning with Koch Engineered Solutions (“KES”) which gives key system tools, engineering, procurement, and construction providers as nicely as Koch Minerals & Trading (“KM&T”) which is included in the buying and selling of lots of of the elements that will be necessary by the Corporation in the long run, as perfectly as the lithium goods it intends to develop.
The web proceeds of the US$100 million Immediate Investment will be employed by the Organization to pursue the subsequent targets:
Proceed to fast progress the 1st industrial task proposed for the Lanxess facility
Speed up and expand the Company’s improvement of the South West Arkansas Lithium Task
Carry on to produce and commercialise fashionable lithium extraction and processing systems and work collaboratively with KES enterprises and,
Allow for for strategic undertaking enlargement.
“We’re coming into an critical stage for Common Lithium and we’re thrilled to be starting off it with a globally acknowledged industrial leader like Koch Strategic Platforms as a partner” stated Robert Mintak, CEO of Normal Lithium. “KSP has an outstanding monitor record of investing in disruptive technologies and their backing is an crucial endorsement of the Company’s core technology, enhancement plans and of our intent to make the Gulf Location a foremost supplier of lithium resources.”
“KSP is concentrating on investing in providers with robust tailwinds that are disrupting the current market as we know it. We are energized to invest in Standard Lithium as they pave a route ahead in direction of lithium production in this article in the U.S. This is an exciting time for energy transformation and we feel KSP’s financial investment in Typical Lithium can assistance speed up the manufacturing of lithium assets correct here at dwelling.” said David Park, president of Koch Strategic Platforms.
Strategic Alignment with Koch Organizations
The Business expects the Direct Expense by KSP to provide for mutually effective alignment with many Koch Industries organizations. For case in point, many firms within just the KES and KM&T platforms could aid in the pursuing ways:
Delivering key industrial technologies and course of action alternatives for commercialisation from Koch Separation Answers
Engineering and growth oversight from Koch Venture Methods
Engineering, procurement and other design products and services from the Optimized Course of action Patterns (OPD) team and,
Raw product supply agreements and aid with future lithium product off-choose agreements from the KM&T group.
Conditions of the Immediate Investment
Less than the terms of the Immediate Investment decision, KSP will subscribe for 13,480,083 widespread shares of Normal Lithium at a price of CDN$9.43 (US$7.42) for each share for gross proceeds to Conventional Lithium of CDN$127,070,000 (US$100,000,000). All common shares issued to KSP will be matter to statutory limits on resale prescribed by relevant Canadian and United States securities rules. Completion of the Direct Expenditure remains subject to the acceptance of the TSX Venture Exchange, as nicely as gratification of customary closing problems.
MaxEn Funds Advisors, Ltd. acted as sole fiscal advisor to Common Lithium on the transaction, led by Senior Handling Director, Howard Margulis, and will be entitled to receive a income fee and share acquire warrants of Standard Lithium in consideration for services delivered.
About Normal Lithium Ltd.
Typical Lithium is an impressive technologies and lithium progress business. The Firm’s flagship challenge is located in southern Arkansas, where it is engaged in the testing and proving of the business viability of lithium extraction from over 150,000 acres of permitted brine operations. The Company has commissioned its 1st-of-a-variety industrial-scale direct lithium extraction demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant makes use of the Firm’s proprietary LiSTR technological innovation to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is remaining utilized for evidence-of-notion and business feasibility scientific studies. The scalable, environmentally pleasant course of action eliminates the use of evaporation ponds, reduces processing time from months to hours and drastically boosts the helpful restoration of lithium. The Corporation is also pursuing the useful resource improvement of over 30,000 acres of individual brine leases located in south west Arkansas, referred to as the Southwest Arkansas Lithium Project, and about 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California.
Normal Lithium is jointly shown on the TSX Undertaking and the NYSE American Exchanges below the buying and selling symbol “SLI” and on the Frankfurt Inventory Exchange less than the symbol “S5L”. Be sure to go to the Company’s site at www.standardlithium.com.
On behalf of the Board of Normal Lithium Ltd.
Robert Mintak, CEO & Director
About Koch Strategic Platforms
With offices in Atlanta and Wichita, KSP needs to be the preferred financial commitment associate of development centered, strategic organizations who are innovating in industries with disruptive probable. Made in 2020, the KSP workforce pursues public and private investments with providers in which extensive-expression mutual profit can be recognized. https://www.kochind.com/
For further info, call Anthony Alvaro at (604) 240 4793
Contact: [email protected]
Christin Fernandez, Director of Communications
Neither TSX Venture Trade nor its Regulation Solutions Service provider (as that phrase is described in guidelines of the TSX Undertaking Trade) accepts obligation for the adequacy or accuracy of this release. This information release may comprise specific “Forward-Searching Statements” inside of the which means of the United States Private Securities Litigation Reform Act of 1995 and relevant Canadian securities legal guidelines. When used in this news release, the text “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words and phrases or expressions recognize forward-wanting statements or information. These forward-on the lookout statements or info may possibly relate to future designs and objectives of the Company, such as, with no limitation, the pursuit and/or realization of any Strategic Chances, satisfaction of all problems to completion of, and closing of, the Direct Expenditure, anticipated added benefits of the Immediate Investment decision and Strategic Options staying understood, upcoming selling prices of commodities, accuracy of mineral or source exploration activity, reserves or resources, precision of preliminary financial assessments, which includes internet existing worth, internal charge of return, capital and running fees, daily life of mine output, development of the task, which include to a pre-feasibility examine, regulatory or govt prerequisites or approvals, the reliability of 3rd social gathering information and facts, ongoing accessibility to mineral attributes or infrastructure, fluctuations in the market place for lithium and its derivatives, improvements in exploration charges and governing administration regulation in Canada and the United States, and other components or info. These kinds of statements represent the Company’s existing sights with respect to long run gatherings and are always dependent on a variety of assumptions and estimates that, though regarded reasonable by the Corporation, are inherently matter to considerable company, economic, competitive, political and social pitfalls, contingencies and uncertainties. A lot of factors, both of those acknowledged and not known, could trigger success, overall performance or achievements to be materially unique from the results, functionality or achievements that are or may be expressed or implied by these kinds of ahead-seeking statements. The Business does not intend, and does not presume any obligation, to update these forward-on the lookout statements or info to replicate alterations in assumptions or adjustments in circumstances or any other occasions affections this kind of statements and facts other than as required by applicable rules, principles and regulations.
Get hold of: [email protected]