Volt Lithium Corp. has announced a significant strategic investment of US$1.5 million from a company with operations in the Delaware Basin, West Texas, USA. The investment aims to facilitate the deployment of a field unit utilizing Volt’s proprietary direct lithium extraction (DLE) technology. This collaboration marks a pivotal moment for Volt as it expands its footprint in the lithium production sector, leveraging its expertise to tap into the lucrative market of lithium hydroxide monohydrate production.
Advancing Lithium Extraction Technology
The strategic investment will enable Volt to deploy a field unit in the Delaware Basin, leveraging its innovative DLE technology. This cutting-edge approach to lithium extraction has been honed through Volt’s extensive research and development efforts, culminating in the successful operation of a permanent Demonstration Plant in Calgary, Alberta. With the deployment of the field unit, Volt aims to further validate the scalability and efficiency of its technology in a real-world setting, bolstering its position as a leader in the lithium extraction industry.
Collaborative Partnership for Success
Volt’s President and CEO, Alex Wylie, expressed enthusiasm about the collaboration with the Delaware Basin operator, emphasizing the diligent efforts to ensure successful lithium extraction from the operator’s brine at Volt’s Demonstration Plant. This partnership underscores the mutual commitment to advancing sustainable lithium production and addressing the growing demand for high-quality lithium hydroxide monohydrate.
Details of the Strategic Investment
The strategic investment will be completed through a non-brokered, private placement with the investor, wherein 6,818,182 units of Volt will be issued at a price of US$0.22 per unit. Each unit will comprise one common share and one-half of one common share purchase warrant, exercisable into one common share at a price of US$0.35 per warrant share. The securities issued under the private placement will be subject to a hold period of four months and a day from the date of closing. The net proceeds will be allocated towards building and deploying the field unit in the Delaware Basin, as well as for general corporate purposes.
Volt Lithium Corp.’s strategic investment marks a significant milestone in the company’s journey towards commercializing its DLE technology for lithium extraction. With the support of the Delaware Basin operator, Volt is poised to accelerate the deployment of its field unit and pave the way for large-scale production of lithium hydroxide monohydrate. As the global demand for lithium continues to rise, Volt’s innovative approach positions it at the forefront of the lithium extraction industry, driving sustainable solutions for the future.
