Standard Lithium Announces Appointment of Senior Corporate Development Officer, John E. Young
VANCOUVER, British Columbia, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSX-V:SLL) (OTCQX:STLHF) (FRA:S5L), is pleased to announce the appointment of John E Young, P.E., as Senior Corporate Development Officer. In this new role, Mr. Young will be managing and expanding strategic partnerships and alliances, and spearheading Standard Lithium's acquisition and development activities, principally in the southern U.S.
Mr. Young is a registered professional engineer with over 35 years’ experience in reservoir engineering, economic evaluations, property acquisitions and project development. Prior to his appointment, Mr. Young served as Director of Business Development for Legacy Reserves LP, where he led the company’s entry into the Mid-Continent region through $500MM in property acquisitions from Anadarko and Marathon in 2015. Mr. Young previously managed the growth of an international company’s U.S. portfolio, serving in senior technical and management roles while building a highly competent technical team. Mr. Young is a member of the Society of Petroleum Engineers and the Society of Petroleum Evaluation Engineers, and earned a Petroleum Engineering degree from Texas Tech University.
Standard Lithium’s Board of Directors and management team are very pleased to have Mr. Young join Standard Lithium’s team and are confident that his wealth of technical and operational knowledge and experience in the Smackover Formation will be a key component to the Company’s ongoing success.
Additionally, the Company is pleased to announce that it has entered into a definitive agreement to acquire a series of fifty-four prospective mineral claims located in San Bernardino County, California. Pursuant to the terms of the definitive agreement, the Company will acquire all of the outstanding share capital of a privately-held British Columbia-based mineral exploration company which holds the rights to the claims (the “Vendor”).
In consideration for the acquisition of the Vendor, the Company will issue 1,000,000 common shares, and will assume responsibility for all outstanding liabilities of the Vendor. Closing of the acquisition remains subject to the final approval of the TSX Venture Exchange, as well as certain other conditions as are customary in transactions of this nature. All common shares issued in connection with the acquisition will be subject to a four-month-and-one-day hold period in accordance with the policies of the TSX Venture Exchange.
About Standard Lithium Ltd.
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. The Company is also commencing resource evaluation on 33,000 acres of brine leases located in the Smackover Formation.
Standard Lithium is listed on the TSX Venture under the trading symbol “SLL”; quoted on the OTCQX under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
For further information, contact Anthony Alvaro at (604) 240 4793