Brief: Standard Lithium And Lanxess Finalize Plan For First Commercial Lithium Project In Arkansas

Standard Lithium

24/02/2022 12:06

Feb 24 (Reuters) - STANDARD LITHIUM LTD  SLI.V :
    * STANDARD LITHIUM AND LANXESS FINALIZE PLAN FOR FIRST
COMMERCIAL
LITHIUM PROJECT IN ARKANSAS
    * UNDER AGREEMENT, STANDARD LITHIUM WILL CONTROL ALL
DEVELOPMENT
OF PROJECT LEADING UP TO AND INCLUDING COMPLETION OF FRONT END
ENGINEERING DESIGN ("FEED") STUDY
    * STANDARD LITHIUM WILL HOLD, AT A MINIMUM, A 51% MAJORITY
EQUITY
STAKE IN PROJECT AND MAY RETAIN AS MUCH AS 100% OF PROJECT
    * STANDARD LITHIUM WILL FORM AN INITIALLY WHOLLY-OWNED
COMPANY
("PROJECT COMPANY") THAT OWNS 100% OF PROJECT DURING PRE-FEED
AND FEED ENGINEERING STUDIES (SEE NEWS RELEASE DATED JANUARY
20TH, 2022). FEED ENGINEERING WILL BE USED TO PRODUCE A NI43-101
DEFINITIVE FEASIBILITY STUDY ("DFS") IN Q4 2022
    * COMPANY WILL ALSO RETAIN 100% OWNERSHIP OF ITS SOUTH WEST
ARKANSAS PROJECT, ALL ITS PROPRIETARY EXTRACTION TECHNOLOGIES,
RELEVANT INTELLECTUAL PROPERTY AND KNOW-HOW
    * LANXESS IS OBLIGED TO SUPPORT DEVELOPMENT OF PROJECT AND
UPON
COMPLETION OF A DFS, HAS OPTION TO ACQUIRE AN EQUITY INTEREST IN
PROJECT COMPANY OF UP TO 49% AND NOT LESS THAN 30%, AT A PRICE
EQUAL TO A RATABLE SHARE OF SLL'S AGGREGATE INVESTMENT IN
PROJECT COMPANY

Source text for Eikon:  ID:nGNX8b6xLV 
Further company coverage:  SLI.V 

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