VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) — Commonplace Lithium Ltd. (“Commonplace Lithium” or the “Firm”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an progressive know-how and lithium venture growth firm, right now introduced that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, will make a US$100 million funding in Commonplace Lithium via a direct non-public placement to help the Firm’s strategic growth targets.
US$100 million direct non-public placement (the “Direct Funding”);
Commonplace Lithium to challenge 13,480,083 widespread shares (“Widespread Shares”) of the Firm at a value of CDN$9.43 (US$7.42) per Widespread Share;
Direct Funding follows intensive due diligence into Commonplace Lithium’s LiSTR DLE know-how, Demonstration Plant and venture growth aims; and,
Events to discover alternatives to work with a number of Koch Industries subsidiaries in key areas of alignment with Commonplace Lithium’s venture growth wants (the “Strategic Alternatives”).
Along with the brand new capital, the Firm, together with a number of Koch Industries subsidiaries, are exploring Strategic Alternatives to work collaboratively in a number of key areas. These doubtlessly embody working with Koch Engineered Options (“KES”) which offers key course of tools, engineering, procurement, and development providers; in addition to Koch Minerals & Buying and selling (“KM&T”) which is concerned within the buying and selling of lots of the supplies that will probably be required by the Firm sooner or later, in addition to the lithium merchandise it intends to supply.
The online proceeds of the US$100 million Direct Funding will probably be utilized by the Firm to pursue the next aims:
Proceed to quickly advance the primary business venture proposed for the Lanxess facility;
Speed up and broaden the Firm’s growth of the South West Arkansas Lithium Challenge;
Proceed to develop and commercialise trendy lithium extraction and processing applied sciences and work collaboratively with KES companies; and,
Permit for strategic venture growth.
“We’re coming into an necessary section for Commonplace Lithium and we’re thrilled to be beginning it with a globally acknowledged industrial chief like Koch Strategic Platforms as a companion” stated Robert Mintak, CEO of Commonplace Lithium. “KSP has a formidable observe document of investing in disruptive applied sciences and their backing is a crucial endorsement of the Firm’s core know-how, growth plans and of our intent to make the Gulf Area a number one provider of lithium sources.”
“KSP is specializing in investing in firms with sturdy tailwinds which can be disrupting the market as we all know it. We’re excited to spend money on Commonplace Lithium as they pave a path ahead in direction of lithium manufacturing right here within the U.S. That is an thrilling time for vitality transformation and we imagine KSP’s funding in Commonplace Lithium will help speed up the manufacturing of lithium sources proper right here at dwelling.” stated David Park, president of Koch Strategic Platforms.
Strategic Alignment with Koch Companies
The Firm expects the Direct Funding by KSP to supply for mutually useful alignment with a number of Koch Industries companies. For instance, a number of companies throughout the KES and KM&T platforms may help within the following methods:
Offering key industrial applied sciences and course of options for commercialisation from Koch Separation Options;
Engineering and growth oversight from Koch Challenge Options;
Engineering, procurement and different development providers from the Optimized Course of Designs (OPD) group; and,
Uncooked materials provide agreements and help with future lithium product off-take agreements from the KM&T group.
Phrases of the Direct Funding
Below the phrases of the Direct Funding, KSP will subscribe for 13,480,083 widespread shares of Commonplace Lithium at a value of CDN$9.43 (US$7.42) per share for gross proceeds to Commonplace Lithium of CDN$127,070,000 (US$100,000,000). All widespread shares issued to KSP will probably be topic to statutory restrictions on resale prescribed by relevant Canadian and United States securities legal guidelines. Completion of the Direct Funding stays topic to the approval of the TSX Enterprise Change, in addition to satisfaction of customary closing circumstances.
MaxEn Capital Advisors, Ltd. acted as sole monetary advisor to Commonplace Lithium on the transaction, led by Senior Managing Director, Howard Margulis, and will probably be entitled to obtain a money price and share buy warrants of Commonplace Lithium in consideration for providers offered.
About Commonplace Lithium Ltd.
Commonplace Lithium is an progressive know-how and lithium growth firm. The Firm’s flagship venture is positioned in southern Arkansas, the place it’s engaged within the testing and proving of the business viability of lithium extraction from over 150,000 acres of permitted brine operations. The Firm has commissioned its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant makes use of the Firm’s proprietary LiSTR know-how to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is getting used for proof-of-concept and business feasibility research. The scalable, environmentally pleasant course of eliminates using evaporation ponds, reduces processing time from months to hours and vastly will increase the efficient restoration of lithium. The Firm can also be pursuing the useful resource growth of over 30,000 acres of separate brine leases positioned in south west Arkansas, known as the Southwest Arkansas Lithium Challenge, and roughly 45,000 acres of mineral leases positioned within the Mojave Desert in San Bernardino County, California.
Commonplace Lithium is collectively listed on the TSX Enterprise and the NYSE American Exchanges below the buying and selling image “SLI”; and on the Frankfurt Inventory Change below the image “S5L”. Please go to the Firm’s web site at www.standardlithium.com.
On behalf of the Board of Commonplace Lithium Ltd.
Robert Mintak, CEO & Director
About Koch Strategic Platforms
With workplaces in Atlanta and Wichita, KSP wishes to be the popular funding companion of development centered, strategic firms who’re innovating in industries with disruptive potential. Created in 2020, the KSP group pursues private and non-private investments with firms the place long-term mutual profit might be realized. https://www.kochind.com/
For additional data, contact Anthony Alvaro at (604) 240 4793
Contact: [email protected]
Christin Fernandez, Director of Communications
Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch. This information launch might comprise sure “Ahead-Trying Statements” throughout the that means of america Non-public Securities Litigation Reform Act of 1995 and relevant Canadian securities legal guidelines. When used on this information launch, the phrases “anticipate”, “imagine”, “estimate”, “count on”, “goal, “plan”, “forecast”, “might”, “schedule” and different comparable phrases or expressions determine forward-looking statements or data. These forward-looking statements or data might relate to future plans and aims of the Firm, together with, with out limitation, the pursuit and/or realization of any Strategic Alternatives, satisfaction of all circumstances to completion of, and shutting of, the Direct Funding, anticipated advantages of the Direct Funding and Strategic Alternatives being realized, future costs of commodities, accuracy of mineral or useful resource exploration exercise, reserves or sources, accuracy of preliminary financial assessments, together with web current worth, inner fee of return, capital and working prices, lifetime of mine manufacturing, development of the venture, together with to a pre-feasibility research, regulatory or authorities necessities or approvals, the reliability of third celebration data, continued entry to mineral properties or infrastructure, fluctuations available in the market for lithium and its derivatives, adjustments in exploration prices and authorities regulation in Canada and america, and different elements or data. Such statements symbolize the Firm’s present views with respect to future occasions and are essentially based mostly upon various assumptions and estimates that, whereas thought-about affordable by the Firm, are inherently topic to important enterprise, financial, aggressive, political and social dangers, contingencies and uncertainties. Many elements, each recognized and unknown, may trigger outcomes, efficiency or achievements to be materially totally different from the outcomes, efficiency or achievements which can be or could also be expressed or implied by such forward-looking statements. The Firm doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements or data to mirror adjustments in assumptions or adjustments in circumstances or every other occasions affections such statements and data apart from as required by relevant legal guidelines, guidelines and laws.
CONTACT: [email protected]