Johnson Matthey Battery Materials Approves Lithium Hydroxide from Nemaska Lithium and Releases $2M Milestone Payment
QUÉBEC CITY, QUÉBEC--(Marketwired - May 5, 2017) - Nemaska Lithium Inc. and its wholly-owned subsidiaries (collectively, "Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF) and Johnson Matthey Battery Materials Ltd ("JMBM") of Candiac, Québec, a wholly-owned subsidiary of Johnson Matthey Plc (LSE:JMAT) (www.matthey.com) announced today that JMBM has made an early payment of CAD$2,000,000 (of the final CAD$3,000,000 milestone payment) following receipt of the first shipment of lithium hydroxide (see press releases of May 11, 2016 and April 17, 2017). The final CAD$1,000,000 will be paid by JMBM once Nemaska Lithium delivers a second shipment of lithium hydroxide that meets JMBM's final criteria. Nemaska Lithium expects to send the final samples once the lithium hydroxide solution is processed through the crystallizer, which has been received at the Phase 1 Plant and is being commissioned.
"JMBM's encouraging reaction to this first shipment of lithium hydroxide is a clear stamp of approval from a leading cathode material manufacturer for the lithium ion-battery market," said Guy Bourassa, President and CEO of Nemaska Lithium. "I am very pleased with the quality of the lithium hydroxide produced to date given the stage of plant commissioning. The crystallizer technology has been used in the lithium sector for years and no issues are anticipated with this equipment."
Neil Collins, Managing Director of Johnson Matthey Battery Materials commented "We are pleased with the lithium hydroxide solution that we have received to date from Nemaska Lithium. On this basis, we are comfortable to release CAD$2,000,000 of our final milestone payment for the Phase 1 Plant project. As we have said in the past, securing the long-term supply of lithium salts is an important part of our strategy as we continue to grow our Battery Materials business and Nemaska Lithium is a key supplier in that strategy."
Bourassa continued, "Qualifying our products with customers has always been the purpose of the Phase 1 Plant and today we have started to achieve this objective. JMBM has been an excellent partner and customer and I look forward to a long and mutually beneficial relationship with them as we enter the lithium supply chain as a credible and reliable supplier of lithium salts."
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.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the delivery to JMBM by the Corporation of a second shipment of lithium hydroxide monohydrate that meets JMBM's criteria and the resulting final payment of CDN$1,000,000, (ii) the Corporation sending final samples once the lithium hydroxide solution is processed through the crystallizer, in respect of which the Corporation expects no issues, (iii) the Corporation being a key supplier within JMBM's supply of lithium salts strategy, (iv) the continuous qualifying of the Corporation's products with customers, (v) the Corporation's expected long and mutually beneficial relationship with JMBM, (vi) the Corporation's entry in the lithium supply chain as a credible and reliable supplier of lithium salts, and (vii) 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, including the fact that there is no certainty that Nemaska Lithium will develop a long-term relationship with JMBM and will become a credible and reliable supplier of lithium salts, 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. Further information regarding Nemaska Lithium, including on risks that may affect forward-looking statements, is available in the SEDAR database (www.sedar.com) and on the Corporation's website at: www.nemaskalithium.com
Contact
Mr. Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Ms. Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
www.nemaskalithium.com