Alset Energy Announces Name Change to Better Reflect Its Goals
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 4, 2017) - Alset Energy Corp. (TSX VENTURE:ION) ("Alset" or "the Company") is pleased to announce that it will be changing its name to Alset Minerals Corp., while keeping its current stock symbol. The name change reflects the company's broader focus and commitment of developing its Mexican salar projects, which can potentially serve a wide spectrum of agriculture, chemicals and industrial minerals markets, in addition to its lithium focus.
While a large portion of Mexico's GDP comes from farming, most of their potassium is imported resulting in the high price of fertilizer. As a result, most small farmers have limited access to these products. This issue is such a significant problem that the Mexican government instigated what they call a "National Crusade Against Hunger" in January 2013. Fertilizer components such as potassium and boron are found in Alset's Mexican salars and as such have the potential to compliment the efforts of Mexican farmers and their domestic needs.
"Considering that our Mexican salars are characterized by high-grade lithium, along with high-grade potassium and other fertilizer components, we felt it is important to better reflect our corporate goals with a new name. The new name allows us to emphasize our wide-ranging project development objectives of maximizing the value of all potential mineral compounds present in our Mexican salars. Mexico is among the world's leading agri-food producers; however, the country remains a net-food product importer. Self-sufficiency in crop nutrients and agri-minerals plays one of the critical, strategic components in the country's agriculture and chemicals sectors," said Allan Barry Laboucan, President and CEO of Alset Minerals. "We feel very fortunate to have the potential to play a role in those markets while also having exceptional exposure to the opportunities in the lithium space. As we gear up for an exciting time with our exploration and drilling campaign, we look forward to maximizing the value of our salars' multi-mineral composition, while utilizing our project location, existing infrastructure and community support."
The company also announces that it has granted, subject to regulatory approval, 250,000 stock options at an exercise price of $0.15 for 5 years to a director of the company.
About Alset Energy (ION.V)
Alset Energy is a TSX-V listed junior exploration company focused on exploring and development of a group of high-grade lithium and potassium projects in the Central Mexican Plateau. The Company is actively exploring in Mexico and Canada.
On behalf of the Board of Directors of Alset Energy Corp.,
Allan Barry Laboucan, President and CEO
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