Jourdan Resources Expects Global Interest with China’s CATL Battery’s $66 million Investment in North American Lithium
TSX VENTURE: JOR
Mississauga, Ontario (FSCwire) - JOURDAN RESOURCES INC. (the “Corporation”) (TSX-V: JOR, Stuttgart: 2JR1) is pleased congratulate James Xiang and his team at North American Lithium for attracting the investment from the largest Chinese automotive battery manufacturer CATL Battery. On March 3, Jilin Jien Nickel Co. Ltd., announced the investment by CATL into North American Lithium, of $50 million in new equity and $16 million in convertible debt. North American Lithium’s Quebec Lithium Mine is the only currently producing lithium mine in Canada.
Jourdan Resources welcomes China’s CATL Battery’s (commonly referred to as China’s “Tesla”) $66 million investment into North American Lithium. Jourdan has a large geologically similar set of claims that virtually surround North American Lithium (see map of September 15, 2017 – https://goo.gl/RKcCMj )
Livio Filice, global lithium expert comments on the development, “The investment from CATL confirms that large end users of lithium chemicals are still searching to secure lithium supply which is a clear indication that the market will remain tight. Significant Chinese investment continues to be deployed into battery manufacturing capacity to meet emerging demand for electric vehicles and stationary energy storage applications. It is critical for these manufacturers to secure supply for these assets to ensure a successful ramp-up over the next years. It is in my opinion, that Jourdan Resources is well positioned to benefit from growing foreign investment interest into the region. The CATL investment now places Jourdan Resources on the global stage as their land packages straddle that of North American Lithium.”
CATL Battery is in the process of completing and initial public offering that would see it raise $2 billion and have an initial valuation of $20 billion. CATL is working with both BMW and VW in Germany on electric car batteries, systems, and new technology.
Michael Dehn, President and CEO of Jourdan Resources states “Quebec’s lithium endowment has just received a huge endorsement from the investment by CATL Battery. Jourdan’s location around North American Lithium and in the La Corne intrusive are attractive targets for new lithium deposits as well as extensions to the open pit of the Quebec Lithium Mine to east and west where mineralization extends onto Jourdan’s West Lithium and Vallee Lithium Properties.”
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange and 2JR1 on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties in lithium. The company’s properties are primarily in spodumene bearing pegmatite rich La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine.
Please visit the Company’s website at www.jourdanresources.com
For further information please contact:
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
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Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Jourdan Resources.
While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Jourdan Resources filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company's public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Jourdan Resources does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.
Although the Company believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.
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