Pure Energy Minerals Enters into Strategic Advisory Engagement with Haywood Securities
August 4, 2015, Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTC: HMGLF) (the “Company” or “Pure”) announces that it has entered into a Strategic Advisory Agreement with Haywood Securities Inc. (“Haywood” or the “ Advisor”) whereby Haywood has agreed to provide strategic advisory services to the Company for a period of 18 months to unlock value from the Company’s assets, including but not limited to, the evaluation of supply agreements and off-takes, business development and corporate opportunities, the introduction of the Company to potential parties to a transaction, to attend any or all meetings as requested by the Company and such other ancillary financial advisory and investment banking services as the Company and the Adviser agree appropriate in the circumstances.
As part of Haywood’s fee, the Company has granted Haywood share purchase warrants exercisable into 800,000 common shares during the term of the Agreement at a price of $.35 per share.
The Strategic Advisory Agreement is subject to the acceptance of the TSX Venture Exchange.
Robert Mintak, Pure Energy CEO, stated” “We are pleased about our engagement of Haywood Securities. Retaining an experienced team is a key step in the process to evaluate and develop a range of strategic opportunities to maximize shareholder value” Mr. Mintak added, ” We look forward to working closely with Haywood’s investment banking team to capitalize on the significance of our recently announced NI 43-101 Inferred Resource. Now that we have achieved the first significant milestone by publishing the first ever Inferred Resource on our Clayton Valley South Lithium Brine Project, we expect to be presented with several strategic alternatives as we move towards a pre-feasibility study, and will rely on Haywood’s advice as we analyze strategic options and pursue transactions that will position the Company for growth to the next level”
About Haywood Securities:
Founded in 1981, Haywood Securities is a private, 100-per-cent employee-owned investment dealer with more than 275 employees and Canadian offices in Vancouver, Calgary and Toronto. The firm is a member of the Toronto Stock Exchange, the TSX Venture Exchange, the Bourse de Montreal, Canadian National Stock Exchange, Investment Industry Regulatory Organization of Canada, the Canadian Investor Protection Fund and the Investment Industry Association of Canada. Haywood is known for its activity in the resource based sector providing extensive research, trading and investment banking services.
About Pure Energy:
Pure Energy is a lithium-brine resource developer with a focus on becoming the lowest cost, lithium supplier for the burgeoning lithium battery industry in North America. Pure Energy is currently focused on the development of our prospective Clayton Valley South Lithium Brine Project, which has the following key attributes:
Three main claim areas, covering approximately 8000 acres in the southern half of Clayton Valley, Esmeralda County, Nevada, are located next to the only producing lithium operation in the United States; Albemarle’s Silver Peak lithium brine mine.
Through drilling and exploration work to date, the Company has established an Inferred Resource (in accordance with NI 43-101) of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE).
The Company is undertaking pre-feasibility level work to better understand the economics and feasibility of using modern processing techniques to convert the Clayton Valley South brines into the high purity lithium products required for new energy storage uses.
Pure Energy is aligned with global technology partners focused on innovative solutions for lithium brine processing. Through process testing work on Clayton Valley brines with Tenova Bateman, the Company has received lab scale results achieving >99.9 % lithium recovery and produced a LiCl solution with a purity greater than 99.9%. Tenova’s LiSX technology works on brine with Li concentrations as low as 14 PPM. The Company has recently shipped brine samples to Korean Multi National POSCO’s research facility to begin process testing using POSCO’s proprietary lithium extraction technology.
On behalf of the Board of Directors
Chief Executive Officer
We seek Safe Harbor.