January 11, 2022- International Battery Metals Ltd. (the “Company”) (CSE: “IBAT”,
OTC: RHHNF, FSE: 8RE) the Company announced that Ensorcia Metals Corporation
(‘Ensorcia’) affiliate Sorcia Minerals LLC has announced “that it has formed a joint
venture with Terra Novo Energy, Triangle Lithium LLC, for the purpose of acquiring and developing specific assets related to the exploration and development of lithium.
Direct Lithium Extraction
Triangle, through its affiliation with Sorcia, will develop lithium resources utilizing International Battery Metals' proprietary direct lithium extraction technology.
Triangle's initial project is located in the world-class Salar de Antofalla in Argentina on 15,000 hectares of claims acquired by Global Oil Management Group from Lithium 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 announced that 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”.
IBAT is an advanced technology company focused on lithium brine extraction. The
company is in the process of creating and applying intellectual property related to
lithium extraction from brines.
ON BEHALF OF THE BOARD
“Dr. John Burba”
Dr. John Burba, President CEO & Director
Tel: (778) 939-4228
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
Forward-looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbor provisions as defined under securities laws and regulations. This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.