Spey Resources Corp. (
CSE: SPEY) (OTC: SPEYF) (“Spey” or the “Company”) is pleased to announce that it has engaged Ascenta Finance Corp. to conduct a private placement financing for gross proceeds of up to $2,000,000 through the issuance of up to 8,000,000 Units (each, a “Unit”) priced at $0.25. Each Unit will be comprised of one common share and one transferable common share purchase warrant (a “Warrant”). Each Warrant will be exercisable for one common share at $0.40 for a period of two years from the date of issuance. Under the terms of the Warrants, Spey will be permitted to accelerate their expiry date if the volume weighted average trading price of the Company’s common shares listed on the Canadian Securities Exchange (“CSE”) is at or above $0.90 for ten consecutive trading days.
Spey Resources Corp.: Spey Resources Announces Private Placement
Spey Resources Corp. (
CSE: SPEY) (OTC: SPEYF) ( Spey or the Company ) is pleased to announce that it has engaged Ascenta Finance Corp. to conduct a private placement financing for gross proceeds of up to $2,000,000 through the issuance of up to 8,000,000 Units (each, a Unit ) priced at $0.25. Each Unit will be comprised of one common share and one transferable common share purchase warrant (a Warrant ). Each Warrant will be exercisable for one common share at $0.40 for a period of two years from the date of issuance. Under the terms of the Warrants, Spey will be permitted to accelerate their expiry date if the volume weighted average trading price of the Company s common shares listed on the Canadian Securities Exchange ( CSE ) is at or above $0.90 for ten consecutive trading days.
Tech One advises they have signed a facility fee agreement to utilize the
Ekosolve™ lithium Solvent Exchange Extraction process that can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.2% and a recovery of 97% far exceeding any ion exchange or adsorption process available to date. Ekosolve™ is licensed to University of Melbourne, Australia.
The key advantage of the Ekosolve system is the high rate of lithium yield at 97% and 95% of the solvent is reclaimed. Other systems such as adsorption achieve 72-80%, fractional crystallization 50-70%, and ion exchange up to 90%. In adsorption and ion exchange extra processes may be required to manage the magnesium and boron in the brines whereas this is not an issue with the Ekosolve process. Hence the capital and operation expenditure is usually much lower. There are no ponds required which is a more eco-friendly solution.