Pure Energy Signs Enhanced MOU With POSCO
May 19, 2015 (Source: Marketwired) — Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTC: HMGLF) (the “Company” or “Pure Energy“) is pleased to announce the signing of non-binding Memorandum of Understanding (“MOU“) with Korean Multinational POSCO extending the scope of their previous MOU (www.pureenergyminerals.com/pure-energy-extends-mou-with-posco/) to include business opportunities relating to the lithium industry such as the development of business relationships with potential customers, and consolidation with other lithium development properties/lithium producers and the relevant financial participation opportunities.
POSCO (NYSE) is one of the largest steel manufacturers in the world and a leader in the development of lithium brine processing technologies and advanced battery materials processes.
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“We are very pleased with this expanded opportunity for collaboration on our Nevada Lithium project with POSCO,” commented Robert Mintak, CEO, Pure Energy Minerals. “Since our initial discussions with POSCO last year, we have rapidly advanced and expanded our Clayton Valley project. Our management team is keen to highlight our strategic U.S. brine resource and explore ways to cooperate with one of world’s leading companies in the development of lithium resources and battery materials.”
The final terms and structure of the proposed joint business opportunities are subject to the Definitive Agreement. PURE and POSCO will pursue reasonable efforts to enter into a definitive agreement over the next 6 months from the date of execution on the MOU.
About Pure Energy:
Pure Energy is an integrated lithium mining and processing developer with a focus on green ‘cradle to cradle’ lifecycle solutions for lithium supply in North America. Pure Energy is currently focused on the advancement of our prospective 8,000 acre Clayton Valley Lithium Brine Project, located contiguous and to the southeast of the only producing lithium mine in the United States, Rockwood Lithium’s Silver Peak lithium brine mine.
On behalf of the Board of Directors
Chief Executive Officer
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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>