Nasdaq GlobeNewswire

Standard Lithium Acquires Lithium Brine Exploration Rights in Productive Smackover Formation in Arkansas

Del

VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (OTCQX:STLHF) (FRA:S5L) is pleased to announce that the Company has signed an Option Agreement with TETRA Technologies Inc. (TETRA), a non-affiliated NYSE-listed company, to acquire the rights to conduct exploration, production and lithium extraction activities on up to 33,000 acres of brine leases located in an area where the Smackover Formation is known to be highly productive in southern Arkansas, USA.

Standard Lithium's Chief Executive Officer, Mr. Robert Mintak commented, "In our search for opportunities of significance, this is one that could really move the needle.  We believe the Smackover may be one of the lithium industry's most promising regions to develop, given the potential resource size and large-scale brine-handling infrastructure in the region.  This agreement highlights our excellent working relationship with TETRA, and signing this deal allows Standard Lithium access to the last available large lease package in the key brine production zone of the Smackover."

Project Highlights:

  • Up to 33,000 acres of brine leases in key brine production fairway in southern Arkansas, adjacent to producing Albemarle leases;
  • Historical data from Standard Lithium lease area shows 370-424 mg/L lithium in brines (Moldovanyi and Walter, 1992);
  • Arkansas currently produces the equivalent of 42.6 million m3 (9,380,000,000 gallons) of brine per year (based on Arkansas Oil and Gas Commission reported average brine production from 2010-2016), almost entirely from the Smackover Formation;
  • Low risk, well understood geology and chemistry;
  • Significant infrastructure, roads, power, water, trained workforce in region; and
  • Existing brine extraction, processing and re-injection permitting regime.

President and Chief Operating Officer, Dr. Andy Robinson also commented, "the Company chose the Smackover Formation as a key development target, precisely because it combines a very large resource potential, with well-studied and documented geology and hydrogeology, along with a permitting regime that has a long history of approving operations that remove, process and re-inject massive volumes of brine.  Combined with a wealth of existing infrastructure in the project area (power, rail, gas, water, trained workforce, cheap reagents etc.), this makes Standard's new opportunity in Southern Arkansas the perfect location to locate a modern lithium brine processing operation.  Due to the wealth of already-available data from our new project area, we can start the process of compiling a maiden resource estimate for this large lease package extremely quickly, with a minimum of additional intrusive investigation."

Transaction Terms
Under the terms of the Option Agreement with TETRA, the Company will be granted the rights in consideration for a series of cash payments, as well as certain ongoing royalties tied to lithium production from the properties.  In consideration of the execution of the Option Agreement, the Company has made a non-refundable cash payment to TETRA of US$500,000, with further cash payments owing to TETRA as follows: 

  • US$500,000 on or before the date that is thirty (30) calendar days following the Agreement Date;
  • an additional US$600,000 on or before the date which is twelve (12) months following the Agreement Date;
  • an additional US$700,000 on or before the date which is twenty-four (24) months following the Agreement Date;
  • an additional US$750,000 on or before the date which is thirty-six (36) months following the Agreement Date; and
  • an additional annual payment of US$1,000,000 on or before each annual anniversary of the Agreement Date, beginning with the date that is forty-eight (48) months following the Agreement Date, until the earlier of the expiration of the 10 year exploratory period or, if the Company exercises the Option, the Company begins payment of the Royalty.

Upon commercial production, the Company will pay TETRA a two and one-half percent (2.5%) royalty on gross revenue derived from the sale of lithium produced from the properties, subject to a minimum annual royalty payment of US$1,000,000.

Quality Assurance

Raymond Spanjers, Certified Professional Geologist (SME No. 3041730), is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release.  Mr. Spanjers is not independent of the Company as he is an officer in his role as Vice President, Exploration and Development.

About Standard Lithium Ltd.

Standard's value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills.  The Company is currently focused on the immediate exploration and development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities.  The Company is also commencing resource evaluation on up to 33,000 acres of brine leases located in the Smackover Formation.

Standard Lithium is listed on the TSX Venture under the trading symbol "SLL"; quoted on the OTCQX under the symbol "STLHF"; 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,

Standard Lithium Ltd.

Robert Mintak, CEO & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news 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 news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation 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 upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties.  Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Neither the Company, nor TETRA Technologies makes any representations as to the value of lease rights associated with TETRA Technologies Smackover brine leases (the "Properties"), the availability of any particular resource or minerals on the Properties, or the merits of any proposed exploration work to be completed on the Properties.  TETRA Technologies expressly disclaims any responsibility for the adequacy or accuracy of disclosure made by the Company in respect of the Properties.  Readers are cautioned that a "Qualified Person" (as that term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects) has not done sufficient work to specify any mineral resource or reserve on the Properties.

For further information, contact Anthony Alvaro at (604) 240 4793




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Standard Lithium Ltd. via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Ant Financial Hosts Technology Conference in Silicon Valley20.1.2018 06:39Pressemelding

Conference featured global fintech leaders and showcased Ant Financial's capabilities across blockchain, AI, security, IoT and computing SANTA CLARA, Calif., Jan. 20, 2018 (GLOBE NEWSWIRE) -- Ant Financial today hosted the Ant Technology Exploration Conference (ATEC) in Silicon Valley, bringing together global partners and technology leaders to explore new innovations and technologies that further Ant Financial's mission of bringing the world equal opportunities. This was the first ATEC held outside of China, following the inaugural ATEC held in Hangzhou in October 2017. The conference featured a diverse range of speakers from academia and industry to better explore the future of fintech, including Turing Award winner and MIT Professor Silvio Micali; Partner and Director of blockchain-based global payment platform Ripple, Emi Yoshikawa; founder of prediction market Bodhi, Xiahong Lin; and Director of JPMorgan Chase's digital channels, Umar Farooq, among others. Ant Financial's Vice Pre

Equis and Global Infrastructure Partners Announce Closing of US$5.0 Billion Renewable Energy Generation Acquisition of Equis Energy19.1.2018 17:28Pressemelding

Singapore, Jan. 19, 2018 (GLOBE NEWSWIRE) -- Equis Pte. Ltd (Equis) and Global Infrastructure Partners (GIP) announcedtoday the closing of the previously announced sale by Equis of 100% of the equity interest in Equis Energyto GIP and its co-investors, for an enterprise value of USD5.0 billion (including assumed liabilities of USD1.3bn). The net transaction consideration has been settled in cash. Headquartered in Singapore, Equis Energy is the largest renewable energy independent power producer(IPP) in the Asia-Pacific region (APAC), with more than 180 assets comprising 11,135MW in operation,construction and development across APAC including Australia, Japan, India, Indonesia, the Philippinesand Thailand. The transaction is the largest renewable energy generation acquisition in history and positions GIP as adominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well asacross India and South-East Asia. About Equis Energy Equis Energy operates from

XBiotech Announces Presentation of Phase 2 Open Label Extension Study Data Evaluating MABp1 for the Treatment of Hidradenitis Suppurativa19.1.2018 14:00Pressemelding

Open Label Extension Results, which Demonstrate Significant Improvements in HS Patients Previously Treated with Placebo, will be Presented at the 7th Conference of the European Hidradenitis Suppurativa Foundation (EHSF) AUSTIN, Texas, Jan. 19, 2018 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ:XBIT) announced today that results from an open label extension (OLE) phase of the randomized Phase 2 study evaluating XBiotech's True Human(TM) antibody, MABp1, as a treatment for Hidradenitis Suppurativa (HS), will be presented at the European Hidradenitis Suppurativa Foundation (EHSF) Conference occurring in Rotterdam Netherlands February 7-9th. The oral presentation titled, "An open-label extension study of MABp1 targeting interleukin-1alpha for hidradenitis suppurativa (HS)" will be given by Theodora Kanni, M.D., Ph.D., Attikon University Hospital in Athens Greece, on 8 February 2018 between 1:50 and 2:50pm local time. The findings being presented come from patients that had received placebo in

The Search for #AconfidentYou Role Models Kicks Off at the Xehar Fashion Fairies Conference19.1.2018 12:00Pressemelding

Expanding their Fashion Fairies Program, Xehar Teaches and Inspires Women Through Confidence EL SEGUNDO, Calif., Jan. 19, 2018 (GLOBE NEWSWIRE) -- Today, the Xehar team announces the Xehar Fashion Fairies Conference, which takes place over three days in Los Angeles, January 19th-21st. The conference gathers aspiring fashionistas to celebrate self love, natural beauty, and learn what it takes inspire women to be more confident. With powerful keynotes, exciting breakout sessions, a fashion show and international networking opportunities, the conference is a unique blend that is new to the fashion industry. "We are searching for our 2018 Fashion Fairies who are serious about a career in fashion and want to inspire women worldwide," says Hadari Oshri, founder and CEO of Xehar. "Attendees will learn how to become one of our exclusive #AconfidentYou Fashion Fairies." Propelled by the successful launch of its existing influencer outreach, Xehar has now expanded their Fashion Fairies program t

Olympus Labs Partners with Leading Korean Fintech Company Metaps Plus19.1.2018 00:03Pressemelding

Gibraltar, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Olympus Labs is quickly becoming an emerging global leader in the cryptocurrency-based financial product space, and on the heels of a successful token sale, Olympus is partnering with Seoul-based corporation Metaps Plus, a leading Korean fintech company and mobile marketing platform developer. This news comes shortly after the company announced OKEx, as its official exchange for the company's token MOT. "This is an amazing partnership for us, as it will allow us to hit the Korean market in a big way. We will be able to tap directly into the tens of millions of users on the Metaps Plus platform, allowing users to access financial products created by Olympus," said Kai Chen, CEO of Olympus Labs. "This is a key milestone as it demonstrates that Olympus products can be integrated in third party platforms such as mobile apps, wallets, exchanges, and even physical atms and pos systems, allowing users throughout the world access to Olympus products

Forward Industries Acquires Intelligent Product Solutions18.1.2018 23:54Pressemelding

WEST PALM BEACH, Fla. and HAUPPAUGE, N.Y., Jan. 18, 2018 (GLOBE NEWSWIRE) -- Forward Industries (NASDAQ:FORD) today announced the acquisition of Intelligent Product Solutions (IPS), an industry leading product design and development company based in Long Island, New York for a material consideration comprising of cash, equity, and contingent earn outs. IPS clients include leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, PepsiCo, Motorola, ABInBev, Zebra and Charity Water. Commenting on the transaction, Terry Wise, CEO of Forward Industries remarked, "I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech 'smart' pill bottle will significantly strengthen and contribute to For

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom