TORONTO, Canada, February 26, 2018 – Namibian lithium developer and lithium concentrate producer Desert Lion Energy Inc. (TSXV: DLI) (“Desert Lion Energy” or the “Company”) is pleased to announce that the common shares of the Company will commence trading on the TSX Venture Exchange at the opening of market today, Monday, February 26, 2018, under the trading symbol “DLI”.
Desert Lion Energy Inc.’s President and CEO, Tim Johnston commented, “We are excited to have reached this milestone. Listing on the TSX Venture Exchange provides the company with greater visibility and accessibility to a broader group of investors, and we look forward to be a part of this well respected marketplace as we advance our Phase I production plan.”
In addition, the Company has granted a total of 1,405,000 options to various directors, officers, consultants and employees under the stock option plan of the Company. The options are exercisable at a price of $1.82 per option and shall expire on February 26, 2023, all subject to a four-month regulatory hold period.
About Desert Lion Energy
Desert Lion Energy is an emerging lithium development company focused on building Namibia’s first large-scale lithium mine to be located 30 km south east of Karibib and approximately 210 km from the nation’s capital of Windhoek. The Company’s Rubicon and Helikon mines is located within a 301 km2 prospective land package, with known lithium bearing pegmatitic mineralization and the Company is currently in Phase 1 of its production plan, producing and exporting lithium concentrate from stockpiled material. The project site is accessible year-round by road and has access to power, water, rail, port, airport and communication infrastructure.
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward-looking information includes, but is not limited to: statements and expectations regarding the initial targeted resource tonnage and grade for the Desert Lion lithium project in Namibia (the “Project”); the Company’s applications for additional licenses; the Company’s planned work program for the Project and its exploration and development schedule and timetable; the rate at which electric vehicle penetration will increase and the resultant effect on the global lithium demand; and the Company’s anticipated budget.
Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, lithium and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour and production costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in lithium prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour and operating costs; general global markets and economic conditions; risks associated with exploration, development and operations of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.
Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this presentation and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws.
For more information, please contact:
Desert Lion Energy Inc.
Tim Johnston, President & CEO
Salisha Ilyas, VP, Investor Relations
Tel: (647) 209-9200