VANCOUVER, BC, May 16, 2024
/CNW/ - LiTHOS Group Ltd. ("LiTHOS" or the "Company") (CBOE
CA: LITS), a leader in sustainable lithium production, is
pleased to announce the continued influx of brine samples from new
mining companies. This development underscores LiTHOS's growing
reputation and capability in the lithium extraction industry. The
tests were conducted at LiTHOS's state-of-the-art facility in
Bessemer, Alabama, highlighting
the Company's commitment to technological innovation and
environmental stewardship.
Key Developments:
Increased Brine Reception: LiTHOS has been receiving an
increasing number of brine samples from new mining companies. This
influx highlights the industry's trust in LiTHOS's patent-pending
AcQUA™ technology, which aims to improve lithium extraction
processes.
Successful Testing and Presentation: LiTHOS has completed
comprehensive testing on multiple brine samples from one of its
mining customers. The test results have been successfully presented
to the client, demonstrating the effectiveness and reliability of
LiTHOS's technology.
New Client Engagements: LiTHOS is currently testing
additional brine samples from customers. The Company expects to
complete these tests soon and will present the results to potential
clients, reinforcing its market presence.
South American Client Engagement: LiTHOS has received
brine samples from another mining company in South America, reinforcing its presence in the
key lithium-rich region and enhancing its global reach.
About LiTHOS
Lithos Group Ltd. is a mining technology company focused on
selective extraction of aqueous minerals. The Company's AcQUA™
technology allows lithium to be extracted from continental brine
reservoirs without the need for additional freshwater or any added
chemicals or reagents. Lithium is now among the world's most
in-demand metals as the world "electrifies" to reduce
CO2 emissions, led by continuing growth in EV sales and
the installation of hundreds of gigawatts of intermittent solar
power generation capacity requiring partial battery storage
solutions.
The Company's mission is to produce sustainable lithium without
evaporation ponds. AcQUA™ is LiTHOS's patent-pending technology
that spans the complete value chain from the conditioning and
pre-treatment of raw brines through the DLE phase into the
polishing and purification of battery-grade lithium feedstock.
LiTHOS has two processing facilities: a 4,000 sq ft lab in
Denver, CO, and a 55,000 sq ft
complex in Bessemer, AL.
LiTHOS is working with multiple strategic mineral resource
owners, including brines from the largest Salars in Chile and Argentina and the Smackover reservoir in the
Southeastern United States. Our
wholly-owned subsidiary, Aqueous Resources LLC, is a US Department
of Energy grant awardee and a Colorado Advanced Industries grant
awardee. For more information, please get in touch with LiTHOS
Investor Relations at 1-877-LITHOS1 / 1-877-548-4671 or via email
at info@lithostechnology.com.
Stay up-to-date on LiTHOS developments by joining our online
communities through LinkedIn and X
ON BEHALF OF THE BOARD
Scott Taylor - CEO
Forward-Looking Statements: This news
release contains forward-looking statements and forward-looking
information (collectively, "forward-looking statements") within the
meaning of applicable Canadian legislation. All statements in this
news release that are not purely historical are forward-looking
statements and include statements regarding beliefs, plans,
expectations and orientations regarding the future including,
without limitation, the Company's market position in the industry
of sustainable lithium production and increase in the capacity of
the Company's facilities. Although the Company believes that such
statements are reasonable and reflect expectations of future
developments and other factors which management believes to be
reasonable and relevant, the Company can give no assurance that
such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: "believes",
"expects", "anticipates", "intends", "estimates", "plans", "may",
"should", "would", "will", "potential", "scheduled" or variations
of such words and phrases and similar expressions, which, by their
nature, refer to future events or results that may, could, would,
might or will occur or be taken or achieved. In making the
forward-looking statements in this news release, the Company has
applied several material assumptions, including without limitation,
that the Company's facilities will be able to handle the increased
demand. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to differ materially
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such risks and other
factors include but are not limited to, the failure of the
Company's facilities to handle increased demand and the potential
that the Company's market position does not increase as expected.
Further, the ongoing labour shortages, inflationary pressures,
rising interest rates, the global financial climate and the
conflict in Ukraine and
surrounding regions are some additional factors that are affecting
current economic conditions and increasing economic uncertainty,
which may impact the Company's operating performance, financial
position and future prospects. Collectively, the potential impacts
of this economic environment pose risks that are currently
indescribable and immeasurable. Other factors may also adversely
affect the future results or performance of the Company, including
those risks and concerns more fully described in the Company's
annual and quarterly management discussion and analysis and in
other filings made by the Company with Canadian securities
regulatory authorities under the Company's profile at
www.sedarplus.ca. Readers are cautioned that forward-looking
statements are not guarantees of future performance or events and,
accordingly, are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty of such
statements. These forward-looking statements are made as of the
date of this news release, and unless required by applicable law,
the Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ
from those projected in these forward-looking statements.
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SOURCE Lithos Group