Triangle, through its affiliation with Sorcia, will develop lithium resources utilizingInternational Battery Metals'proprietary direct lithium extraction technology. Triangle's initial project is located in the world-class Salar de Antofalla in Argentinaon 15,000 hectares of claims acquired by Global Oil Management Group fromLithium Energi Exploration Inc. Development is to commence immediately. Ensorcia has an exclusive license to utilize IBAT’s technology in Argentina and Chile. The Company has substantially completed the construction of its first lithium extraction unit. The system modules are currently being heat traced and insulated.
Stock Option Plan
The Company expects the final assembly and testing to take place in March in the US prior to deployment to South America. The Company announcedthat it has granted, pursuant to its Stock Option Plan, options to purchase 300,000 shares exercisable for a period of 5 years at $3.94 per share to an employee of the Company.
Dr. John Burba stated that “we are extremely excited about the progress made to date under challenging supply chain issues and now look forward to the commencement of testing and the future deployment into the field of the unit”.
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Forward-looking and cautionary statements
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