Nemaska Lithium Receives Final Milestone Payment from Johnson Matthey Following Approval of Battery Grade Lithium Hydroxide from Phase 1 Plant
July 26, 2017 (Source) – Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX)(OTCQX:NMKEF) and Johnson Matthey Plc (LSE:JMAT) (www.matthey.com) announced today that Johnson Matthey has released the final CAD$1,000,000 milestone payment following receipt and acceptance of a second shipment of 3.5t of lithium hydroxide from Nemaska Lithium (see press release of June 20, 2017). Both Johnson Matthey and Nemaska Lithium confirm that this shipment meets Johnson Matthey’s lithium hydroxide specifications and concludes the milestone payments from Johnson Matthey, with Nemaska Lithium having met all the deliverables for the collaboration agreement announced on May 11, 2016.
“The commissioning and start-up of the Phase 1 Plant to date has gone exceptionally well and we have delivered battery grade lithium salts to Johnson Matthey. It has been a pleasure working with their battery materials team on this project and we look forward to our continued collaboration and on-going supplier relationship with this important manufacturer of cathodes for lithium ion batteries,” said Guy Bourassa, President and CEO of Nemaska Lithium.
About Johnson Matthey
Johnson Matthey is a global speciality chemicals company underpinned by science, technology and its people. A leader in sustainable technologies, many of the group’s products enhance the quality of life of millions through their beneficial impact on the environment, human health and wellbeing. The group focuses on clean air, clean energy and low carbon technologies and is an expert in the application and recycling of precious metals. Johnson Matthey has operations in over 30 countries and employs around 13,000 people. Its products and services are sold across the world to a wide range of advanced technology industries.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide 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 the Corporation holds four granted patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for preparing high purity lithium hydroxide and carbonate.
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All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the continued collaboration and on-going supplier relationship with Johnson Matthey and (ii) generally, the above “About Nemaska Lithium” paragraph which essentially describe the Corporation’s outlook constitute ”forward-looking information” or ”forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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