Standard Lithium Announces US $ 100 Million Direct Investment from Koch’s Strategic Platforms

0

VANCOUVER, British Columbia, November 24, 2021 (GLOBE NEWSWIRE) – Standard Lithium Ltée (“Standard lithium“or the”Society“) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an innovative lithium technology and projects development company, today announced that Koch Strategic Platforms (“KSP»), A subsidiary of Koch Investments Group, will invest US $ 100 million in Standard Lithium through a direct private placement to support the Company’s strategic development objectives.

Key points:

  • US $ 100 million direct private placement (the “Direct investment“);

  • Standard Lithium will issue 13,480,083 ordinary shares (“Ordinary actions”) Of the Company at a price of CA $ 9.43 (US $ 7.42) per common share;

  • The direct investment follows a thorough due diligence of Standard Lithium’s LiSTR DLE technology, demonstration plant and project development objectives; and,

  • The parties should explore opportunities to work with several subsidiaries of Koch Industries in key areas of alignment with the project development needs of Standard Lithium (the “Strategic opportunities“).

In addition to the new capital, the company, along with several subsidiaries of Koch Industries, are exploring strategic opportunities to work collaboratively in several key areas. These potentially include working with Koch Engineered Solutions (“KES“) which provides key processing equipment, engineering, procurement and construction services; as well as Koch Minerals & Trading (“KM&TWhich is involved in trading many of the materials the Company will need in the future, as well as the lithium products it intends to produce.

The net proceeds of the direct investment of US $ 100 million will be used by the Company to pursue the following objectives:

  • Continue to rapidly advance the first commercial project proposed for the Lanxess facility;

  • Accelerate and expand the development of the Southwest Arkansas Lithium Project Company;

  • Continue to develop and commercialize modern lithium extraction and processing technologies and work in collaboration with KES companies; and,

  • Allow the strategic expansion of the project.

“We are entering an important phase for Standard Lithium and we are delighted to start it with a globally recognized industry leader such as Koch Strategic Platforms as a partner” said Robert Mintak, CEO of Standard Lithium. “KSP has an impressive track record of investing in disruptive technologies and their support is a significant endorsement of the company’s core technology, development plans and our intention to make the Gulf region a leading resource provider. lithium. “

KSP is focused on investing in companies with strong tailwinds that are disrupting the market as we know it. We are excited to invest in Standard Lithium as they pave the way for lithium production here in the United States. “ said David Park, president of Koch Strategic Platforms.

Strategic alignment with Koch companies
The Company expects the direct investment from KSP to achieve mutually beneficial alignment with several companies of Koch Industries. For example, several companies within the KES and KM&T platforms could help in the following ways:

  • Provide key industry technologies and process solutions for the commercialization of Koch Separation Solutions;

  • Supervision of the engineering and development of Koch Project Solutions;

  • Group Engineering, Procurement and Other Construction Services Optimized Process Designs (OPD); and,

  • Raw material supply agreements and assistance with future agreements for the sale of lithium products for the KM&T group.

Conditions of direct investment
Pursuant to the direct investment, KSP will subscribe for 13,480,083 common shares of Standard Lithium at a price of C $ 9.43 (US $ 7.42) per share for gross proceeds to Standard Lithium of C $ 127,070,000. (US $ 100,000,000). All common shares issued to KSP will be subject to statutory restrictions on resale prescribed by applicable securities laws in Canada and the United States. Completion of the direct investment remains subject to the approval of the TSX Venture Exchange, as well as the satisfaction of customary closing conditions.

MaxEn Capital Advisors, Ltd. acted as the sole financial advisor to Standard Lithium in connection with the transaction, led by the Senior Managing Director, Howard Margulis, and will be entitled to receive a cash commission and share purchase warrants from Standard Lithium in consideration for the services provided.

About Standard Lithium Ltd.

Standard Lithium is an innovative lithium and technology development company. The Company’s flagship project is located in southern Arkansas, where it is engaged in testing and demonstrating the commercial viability of mining lithium from more than 150,000 acres of licensed brine operations. . The Company has commissioned its first industrial-scale direct lithium mining demonstration plant at the South Lanxess plant in southern Arkansas. The demonstration plant uses the company’s proprietary LiSTR technology to selectively extract lithium from Lanxess residual brine. The demonstration plant is used for proof of concept and commercial feasibility studies. The scalable and environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours, and dramatically increases efficient lithium recovery. The Company also continues to develop the resources of more than 30,000 acres of separate brine leases located in Southwest Arkansas, known as the Southwest Arkansas Lithium Project, and approximately 45,000 acres of mining leases located in the desert. of Mojave, San Bernardino County, California.

Standard Lithium is jointly listed on the TSX Venture Exchange and the US Stock Exchange NYSE under the ticker symbol “SLI”; 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 of Directors of Standard Lithium Ltd.

Robert Mintak, CEO and Director

About Koch’s Strategic Platforms

With offices in Atlanta and Wichita, KSP aims to be the preferred investment partner for strategic, growth-oriented companies that innovate in sectors with disruptive potential. Established in 2020, the KSP team pursues public and private investments with companies where long-term mutual benefits can be realized. https://www.kochind.com/

For more information contact Anthony Alvaro at (604) 240 4793

Contact: [email protected]
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/

Koch Industries
Christin Fernandez, Director of Communications
202-879-8546

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 press 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 press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target,” plan “,” foresee “,” can “,” plan ” and other similar words or phrases identify forward-looking statements or information. These forward-looking statements or information may relate to the future plans and objectives of the Company, including, without limitation, the pursuit and / or realization of any strategic opportunity, the satisfaction of all conditions to the realization and the closing direct investment, the anticipated benefits of direct investment and ongoing strategic opportunities, future commodity prices, the accuracy of mineral or resource exploration activity, reserves or resources, accuracy of preliminary economic assessments, including net present value, internal rate of return, capital and operating costs, life of mine production, project progress, including to study pre-feasibility, regulatory or government requirements or approvals, reliability of third-party information, continuous access to mining properties or infrastructure, fluctuation market uations for lithium and its derivatives, changes in exploration costs and government regulations 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 on a number of assumptions and estimates which, although considered reasonable by the Company, are inherently subject to risk. commercial, economic, competitive, political and social, contingencies and uncertainties. Many factors, known and unknown, could cause any results, performance or achievements to differ materially from the results, performance or achievements which are or may be expressed or implied by these forward-looking statements. The Company does not intend, and assumes no obligation, to update such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other event affecting such statements and information other than those required by laws, rules and regulations.

CONTACT: [email protected]


Source link

Share.

Comments are closed.