VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to announce that with its partner Swiss EMX the Company will proceed with the launch of its Graphite Token as per the proposed offtake agreement to supply Graphite from the Ambato-Arana graphite project in Madagascar (the “Malagasy Project”). Swiss EMX plans to launch pre-sales of its Commodity backed Graphite Token in the upcoming weeks.
Under the new partnership LION will honor the original off-take agreement announced Feb 14th, 2019 and will take a 15% interest in Swiss EMX for an investment of $250,000 dollars.
Demand for energy storage, driven by the accelerating move to electric vehicles and alternative energy with a view to meeting CO2 emissions targets, is expected to increase by orders of magnitude over coming years creating a supply shortfall in, and increasing the need for liquidity in, graphite and e-metals supplies and markets.
To solve this liquidity problem, we utilize Blockchain Technology for the trading of the e-metals based on smart contracts which build in faster and cheaper settlement between the buyer and seller and will ultimately allow for the physical delivery of the underlying commodity between the producers and the consumers.
Swiss-EMX is pioneering the tokenization of the energy metals using a three-stage approach. First, by offering commodity backed tokens followed by secondary trading of the tokens on regulated exchanges, which allows for speculation and liquidity in otherwise illiquid commodities market and finally by offering delivery of the physical under lying commodity via smart contracts using blockchain technology.
Ambato-Arana Graphite Mine, Madagascar
The 3 forty-year renewable mining exploitation licenses that comprise the Project total 4,375 hectares (10,811 acres) are located in the vicinity of Andasibe in Toamasina Province in Madagascar, 20 km to the southwest of Sheritt’s large-scale nickel/cobalt laterite open pit mine at Ambatovy and 15 km north east of the town of Moramanga from which national highway RN2 connects with capital city Antananarivo (114 km) and Madagascar’s main port of Toamisina (Tamatave) (240 km). Graphite was produced on the licenses, at a modest rate constrained by the technology employed on the licenses at that time, for roughly a century from 1910. Production was suspended by the previous owners due to a slump at the time in Global Graphite markets and with the deposits only partially mined. The deposits are now ready for larger scale exploitation with modern production techniques. They lie within the graphitic horizons of the highly prospective Manampotsy Formation and are associated with topographic highs that are exploited via free digging of lateritic ore and open pit mining, providing a lower cost exploitation without need for blasting. The graphite mineralization on the Project appears within well-defined north-south belts with interbedded graphite-rich friable layers. The geological layers of interest have continuity of several kilometres and exhibit a shallow dip angle. Sample data indicate good grade (up to 10% carbon content with some samples up to nearly 14%) and large flake (jumbo size) consistent with other nearby mines e.g. Gallois (Elate Graphite), Sahamamy & Vatomina (Tirupati Graphite) and DNI Metals’ Vohitsara (DNI Metals).
The Company would also like to report that its shareholders have exercised a total of 6 million warrants at $0.12 for total gross proceeds of just over $720,000.
The company would also like to announce that it has set 1 million incentive stock options as per its option plan at a price of $0.22 for a period of two years.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.
For Further information about the Company, please contact:
Global Li-Ion Graphite Corp.
Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. Forward looking statements in this release may include, without limitation, the decision of Company and Swiss EMX to sign a definitive offtake agreement, project economics, permitting, the development timeline, the Company’s objective to produce graphite. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Such factors include, among other things, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of graphite; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.