LibertyStream and Wellspring Hydro Announce US $700,000 Grant to Fund Lithium Refining Unit backed by State of North Dakota; Proceeds Drawn From US$7.5 million pre-Approved State Funded Grant and Loan Facility
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Support from North Dakota Government: Additional funding of
US underscores continued support of LibertyStream鈥檚 proprietary direct lithium extraction (鈥淒LE鈥�) technology.$700,000 - Accelerating Domestic Critical Minerals Production: Refining Unit critical step at providing bulk samples for customers for future off-take arrangements
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Core Focus on American Innovation: The Company remains committed to harnessing established energy resources in the Permian Basin and the Bakken/Three Forks formations to deliver sustainable critical minerals production in
the United States
LibertyStream lithium-carbonate refining unit: components prior to shipment to TX.
鈥�We are deeply grateful to the
US
Wellspring was previously awarded
Initially, the Refining Unit will be deployed at LibertyStream鈥檚 facility in
Lithium Carbonate Refining Unit
The Refining Unit will be capable of producing up to 10 tpa of lithium carbonate tailored to the technical specifications of future customers for either industrial grade or battery grade lithium carbonate. In order to have the ability to sign offtake agreements, future customers need bulk sample from the field. Management anticipates that the Refining Unit will consistently provide its customers with the confidence to rely on the grade and quality of lithium carbonate for future offtake agreements.
Corporate Secretary Appointment
LibertyStream is pleased to announce the appointment of Eamon Hurley as Corporate Secretary for the Company. Mr. Hurley is a Partner at Cassels Brock & Blackwell LLP (鈥淐assels鈥�) and was former Canadian General Counsel to Unocal Corporation. Cassels acts as Corporate Counsel to the Company. The Company is granting Mr. Hurley 250,000 options under its omnibus equity incentive plan. The Options vest over a six-month period and are exercisable at
About LibertyStream Infrastructure Partners
LibertyStream is a lithium development and technology company aiming to be one of North America鈥檚 first commercial producers of lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management鈥檚 hydrocarbon experience to deploy our proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world鈥檚 clean energy transition. With four differentiating pillars, and a proprietary DLE technology and process, LibertyStream鈥檚 innovative approach to development is focused on generating the highest lithium recoveries with lowest costs, positioning us for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company鈥檚 continued progress on its website: .
Forward Looking Statements
This news release includes certain 鈥渇orward-looking statements鈥� and 鈥渇orward-looking information鈥� within the meaning of applicable Canadian securities laws. When used in this news release, the words 鈥渁nticipate鈥�, 鈥渂elieve鈥�, 鈥渆stimate鈥�, 鈥渆xpect鈥�, 鈥渢arget鈥�, 鈥減lan鈥�, 鈥渇orecast鈥�, 鈥渕ay鈥�, 鈥渨ill鈥�, 鈥渨ould鈥�, 鈥渃ould鈥�, 鈥渟chedule鈥� and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, management鈥檚 expectations relating to the processing capacity of its DLE unit, information with respect to the completion and timing of the purchase of the Refining Unit and expectations of production therefrom, the anticipated benefits to the Company鈥檚 customers relating to the deployment of the Refining Unit. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company鈥檚 actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including the risk of delay in completing the purchase of the Refining Unit, the risk that management鈥檚 production estimates relating to the Refining Unit turn out to be incorrect, and generally, those known risk factors outlined in the Company鈥檚 annual information form for the year ended June 30, 2024, the Management鈥檚 Discussion and Analysis for the six months ended December 31, 2024, and the (final) short form base shelf prospectus dated July 20, 2023. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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 press release.
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For Investor Relations inquiries or further information, please contact:
Alex Wylie, President & CEO
T: +1.972.626.1645
E: [email protected]
Or
Bill McClain, Investor Relations
T: +1.604.773.9423
E: [email protected]
Source: LibertyStream Infrastructure Partners Inc.
