VANCOUVER, British Columbia, February 16, 2021 (GLOBE NEWSWIRE) – Global Li-Ion Graphite Corp. (Global Li-Ion or the Business) (CSE: LION) is pleased to announce that with its partner Swiss EMX the Company will launch its Graphite Token in accordance with 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 coming weeks.
As part of the new partnership, LION will honor the original direct debit agreement announced on February 14e, 2019 and will take a 15% stake in Swiss EMX for an investment of $ 250,000.
The demand for energy storage, driven by the increasingly rapid switch to electric vehicles and alternative energies in order to meet CO2 emissions targets, is expected to increase by several orders of magnitude over the coming years, creating a supply deficit and increasing the need for liquidity in, supply and markets for graphite and electronic metals.
To solve this liquidity problem, we use Blockchain technology for trading electronic metals on the basis of smart contracts which allow faster and cheaper settlement between buyer and seller and ultimately will allow physical delivery of the commodity under -jacent between producers and consumers.
Swiss-EMX is the pioneer in the tokenization of energetic metals using a three-step approach. First, by offering commodity-backed tokens, followed by a secondary exchange of the tokens on regulated exchanges, which allows speculation and liquidity in an otherwise illiquid commodities market, and finally by offering delivery of the commodity. underlying physical commodity through smart contracts using blockchain technology.
Ambato-Arana graphite mine, Madagascar
The 3 renewable forty-year mining licenses that make up the project total 4,375 hectares (10,811 acres) are located near Andasibe in Toamasina province in Madagascar, 20 km southwest of the open pit mine. of large-scale nickel / cobalt laterite from Sheritts to Ambatovy and 15 km northeast of the town of Moramanga from which the RN2 national road connects the capital Antananarivo (114 km) and Madagascar’s main port of Toamisina (Tamatave) (240 km). Graphite was produced on license, at a modest pace constrained by the technology employed on licenses at the time, for about a century from 1910. Production was suspended by previous owners due to a collapse at the time on the world markets for graphite and with the deposits are only partially exploited. The deposits are now ready for larger scale exploitation with modern production techniques. They lie within the graphitic horizons of the very prospective Manampotsy formation and are associated with topographic summits that are mined via free digging for laterite ore and surface mining, providing low cost mining without the need for blasting. Project graphite mineralization occurs in well-defined north-south belts with friable graphite-rich layers interspersed. The geological layers of interest have a continuity of several kilometers and present a shallow angle of inclination. Sampling data indicates good grade (up to 10% carbon content with some samples up to almost 14%) and large flakes (giant size) compatible with other mines nearby eg Welsh (Elate Graphite), Sahamamy & Vatomina (Tirupati Graphite) and DNI Metals Vohitsara (DNI Metals).
The Company also wishes to point out that its shareholders 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 established 1 million incentive stock options in accordance with its option plan at a price of $ 0.22 for a period of two years.
Further information on Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on the Companys website, www. globalli-iongraphite.com.
For more information about the company, please contact:
Global Li-Ion Graphite Corp.
Email: [email protected]
Neither the Canadian Securities Exchange nor its regulatory services provider has reviewed or accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Use of any of the words anticipate, continue, estimate, expect, may, want, plan, intend, believe and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release may include, without limitation, the decision of the company and Swiss EMX to sign a definitive purchase agreement, the economics of the project, permits, development schedule, the company’s goal of producing graphite. While the Company believes that the expectations and assumptions upon which forward-looking statements are based are reasonable, forward-looking statements should not be relied on unduly because the Company can give no assurance that they will prove to be correct.
Because forward-looking statements relate to future events and conditions, by their very nature they involve inherent risks and uncertainties. These factors include, among other things, the interpretation and actual results of ongoing 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 function as intended; the inability of contracting parties to perform; labor disputes and other risks of the mining industry; delays in obtaining government approvals or funding or in completing exploration, as well as factors disclosed in the company’s public records. These statements speak only as of the date of this press release. Actual results could differ materially from those currently expected due to a number of factors and risks discussed in the Company’s MD&A under the Company’s profile at www.sedar.com. Although the Company may choose to do so, it does not undertake to update this information at any time.
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