Suche
 
Folgen Sie uns auf:

Western Lithium Announces Orion Mine Finance As New 19.9% Strategic Investor

24.09.2013  |  Marketwired

RENO, NEVADA--(Marketwired - Sep 24, 2013) - Western Lithium USA Corp. ("Western Lithium" or the "Company") (TSX:WLC) (OTCQX:WLCDF) is pleased to announce that Orion Mine Finance Fund I ("Orion Mine Finance") has become a strategic 19.9% shareholder of the Company. Orion Mine Finance is a $1.14 billion investment fund (as of June 30, 2013) focused on providing financing solutions for the development, construction, expansion or acquisition of mining projects. In addition to their equity interest, Orion Mine Finance holds a royalty with Western Lithium (see press release dated September 23, 2013).

"We have a long term investor with Orion Mine Finance, who recognizes our prospects to commercialize our hectatone™ organoclay and lithium businesses based on the growth of directional drilling technology and the adoption of electrified automobiles using lithium ion batteries," said Jay Chmelauskas, President and CEO. "In addition, Orion Mine Finance's equity investment is aligned with stakeholders to see Western Lithium achieve production status in order to realize the value of their revenue royalty, also with the Company."

The investment by Orion Mine Finance completes the terms of the Sales and Voting agreement between Concordia Resource Corp. ("Concordia") and Western Lithium, whereby Concordia would dispose of their interest in Western Lithium to certain strategic investors approved by Western Lithium (see press release dated March 11, 2011). Other investors that purchased shares from Concordia include insiders of Western Lithium who purchased approximately 4% of the Company.

Orion Mine Finance provides flexible financing solutions to mining companies in the precious and base metals sectors for the purposes of developing, constructing, expanding, or acquiring mining projects. Orion Mine Finance has approximately $1.14 billion under management (as of June 30, 2013), dedicated exclusively to the mine finance business. Orion Mine Finance Fund I (formerly known as RK Mine Finance II LP) was launched in 2012 and is one of the world's leading mining sector-focused investment funds. Orion Mine Finance operates across the global metals industry with offices in New York, Denver, Sydney and Bermuda. Investors in Orion Mine Finance include college endowments, foundations, family offices, pensions and other institutional investors. For additional information about Orion Mine Finance, please visit www.orionminefinance.com.

Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, Hectatone™ and potentially other organoclays for the oil and gas industry, and in particular, to support the growth of high pressure high temperature, deep directional drilling applications. The Company is also developing its Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.

Forward-looking statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company's periodic filings with Canadian securities regulators. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should" and similar expressions are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Statements in this release that constitute forward-looking statements or information include, but are not limited to (i) the commencement of commercial production for organoclay and lithium businesses; (ii) the growth of the directional drilling industry and the adoption of electrified automobiles.

All such forward-looking information and statements are based on certain assumptions and analyses made by Western Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the company's most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking information or statements.



Contact

Western Lithium USA Corp.
Investor Relations
604-221-7982
info@westernlithium.com
www.westernlithium.com


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Lithium Americas (Argentina) Corp.
Bergbau
A3ER6Y
CA53681K1003
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"