Nemaska Lithium Intended Facilities Not Impacted by Fire in Shawinigan
October 6, 2015 (Source: Marketwired) — Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX VENTURE:NMX)(OTCQX:NMKEF) announces today that the facilities it intends to use for its hydrometallurgical plant project, located in the Resolute Forest Products’ former Laurentide plant complex in Shawinigan, Quebec, are not impacted by a recent fire that occurred on Saturday, October 3, 2015. On September 8, 2015, Nemaska Lithium announced an agreement in principle to acquire certain facilities in Shawinigan, Quebec. As part of this agreement, the City of Shawinigan will tear down certain buildings on the property that are not required by Nemaska Lithium. The building damaged by the fire is one of the buildings that is scheduled to be torn down. Nemaska Lithium is not expecting any delays to the Phase 1 Plant construction or the construction of the commercial Hydromet plant due to this fire.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide supplier and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium’s Whabouchi mine will be shipped to the Corporation’s lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which patent applications have been filed.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward‐looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>