Vancouver, British Columbia--(Newsfile Corp. - November 16, 2018) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay") Further to its May 4, 2018 news release Lions Bay is pleased to provide the following update regarding Consolidated Potash Corporation (CPC):
Business Development of Consolidated Potash Corporation
CPC has been actively evaluating a number of prospective project opportunities where the company believes there is a reasonable prospect of the aMESTM technology to create substantial value, by improving overall project financial performance. The majority of prospective potash and lithium brine projects that have been evaluated are located in Australia, Europe, North America and South America.
Based on the recently performed preliminary project evaluations, CPC remains optimistic the aMESTM technology has the potential to substantially improve brine hosted mineral processing applications. Investigations to date have identified opportunities where the aMESTM technology may be able to allow certain projects to substantially reduce or potentially eliminate the need for fresh water bore fields as well as evaporation ponds.
The anticipated capex savings address critical industry challenges facing greenfield project development and together with improved mineral processing efficiencies, provide a strong platform for commercialising the aMESTM technology.
CPC has recently identified a highly prospective North American potash and lithium project where the aMESTM technology is particularly well suited to an integrated and accelerated development schedule, should mineral resource definition studies progress satisfactorily. CPC has agreed to a conditional earn-in agreement where CPC has a visible pathway to acquiring a 100% interest in the project, which covers the core area of a significant regional playa.
Commercialisation
CPC and its strategic research partner, Victoria University's Institute of Sustainable Industries & Liveable Cities, have recently completed constructing and commissioning a scaled-up aMESTM pilot plant. Successfully commissioning the pilot plant is an important step in scaling-up the aMESTM technology towards commercial applications.
Current testing of the aMESTM pilot plant is focused on processing various brine and salt samples sourced from the Karinga Lakes project, with the objective of producing sulphate of potash. CPC has recently commenced the preparation of a scoping study to evaluate the potential of developing the Karinga Lakes potash project with the aMESTM technology.
IPO Timeline & Pre-IPO Funding
Leading up to the planned initial public offering (IPO) of CPC in the first half of calendar year 2019, CPC is exploring pre-IPO funding opportunities with strategic partners that may be able to assist CPC achieve its corporate objectives, most notably the commercialisation of the aMESTM technology. Lions Bay remains optimistic about the future of CPC and believes the planned acquisition of the North American potash lithium project will further bolster the value of CPC. Lions Bay looks forward to providing further updates on the progress of CPC, in the near future.
About Lions Bay Capital Inc.
Lions Bay Capital Inc. is a TSXV-listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it will provide public and private companies early-stage financial support by way of equity or debt.
On behalf of the Board of Lions Bay.
John Byrne
Director Director
Tel: +613 9236 2800
Email: [email protected]
Bahay Ozcakmak
Tel: +613 9236 2800
Email: [email protected]
For more information, please visit the corporate website at www.lionsbaycapital.com or contact the above.
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This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "will", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing Lions Bay and other forward-looking statements are discussed in Lions Bay's Management's Discussion and Analysis which is available under the Company's profile on www.sedar.com.
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