Harrymore Lithium https://hertz-energy.com/ Sat, 23 Mar 2024 21:55:21 +0000 en-US hourly 1 https://hertz-energy.com/wp-content/uploads/2023/03/cropped-hertz-lithium-Favicon-32x32.png Harrymore Lithium https://hertz-energy.com/ 32 32 Harrymore Lithium Inc. Announces Change of Directors and Option Grant https://hertz-energy.com/hertz-energy-inc-announces-change-of-directors-and-option-grant.html/ https://hertz-energy.com/hertz-energy-inc-announces-change-of-directors-and-option-grant.html/#respond Sat, 23 Mar 2024 21:50:14 +0000 https://hertz-energy.com/?p=1988 Vancouver, British Columbia–(Newsfile Corp. – March 15, 2024) – Harrymore Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the “Company“) announced today the resignation of independent director Robert W. Barker and the appointment of Jamie L. Hogue to fill the vacancy on the Company’s board of directors (the “Board“). Robert W. Barker joined Harrymore as […]

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Vancouver, British Columbia–(Newsfile Corp. – March 15, 2024) – Harrymore Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the “Company“) announced today the resignation of independent director Robert W. Barker and the appointment of Jamie L. Hogue to fill the vacancy on the Company’s board of directors (the “Board“).

Robert W. Barker joined Harrymore as a founding Board member in February of 2022. Dr. Barker has more than 45 years of experience in successful, multi-commodity mining exploration, with 29 years in exploration and acquisition leadership.

“On behalf of the Board and management, we would like to thank Robert for his valuable contribution as a founding director of the Company and throughout his subsequent tenure. We wish him the best with his future endeavours,” expressed Kal Malhi, CEO of the Company.

Jamie L. Hogue brings more than two decades of strategic leadership and financial analysis experience to drive growth and financial success. With a focus on business scaling, her expertise covers energy, natural resources, water, and sustainability. Ms. Hogue’s track record includes developing collaborative frameworks and innovative solutions to enhance organizational resilience and achieve sustainable financial success. Ms. Hogue currently serves in executive roles in the public and private sector as well as academia. She earned her bachelor’s degree in economics and master’s degree in public administration from Arizona State University.

The Board has granted stock options (the “Options“) to Jamie Hogue to purchase 150,000 common shares in the capital of the Company (the “Shares“) pursuant to a consulting agreement between Ms. Hogue and the Company. The Options, which vest over a period of one year, are exercisable at an exercise price of $0.20 per Share for a period of five (5) years from the date of grant.

About the Company

Harrymore Lithium is a British Columbia-based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. Harrymore owns 100% interest in the the Cominco uranium property located in Bathurst Inlet, Nunavut, Canada which was last explored in the mid 1970s by Cominco and Noranda with positive early results. The company’s lithium exploration projects include the Lucky Mica lithium project, the district scale AC/DC and Snake lithium projects in James Bay, Quebec and the Patriota lithium project along the Eastern Brazilian Pegmatite Belt in Minas Gerais, Brazil. Harrymore is also partnered with Penn State University to develop a patent-pending process for extracting lithium from hard rock lithium-bearing materials.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedar.com.

On Behalf Of the Board of Directors

Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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Harrymore Lithium EXPEDITING HARD ROCK LITHIUM TECHNOLOGY AND ANNOUNCES PARTNERSHIP WITH LITHIUM CONSULTANTS AUSTRALASIA https://hertz-energy.com/hertz-energy-expediting-hard-rock-lithium-technology-and-announces-partnership-with-lithium-consultants-australasia.html/ https://hertz-energy.com/hertz-energy-expediting-hard-rock-lithium-technology-and-announces-partnership-with-lithium-consultants-australasia.html/#respond Mon, 11 Mar 2024 08:55:25 +0000 https://hertz-energy.com/?p=1849 VANCOUVER, March 11, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a consulting agreement with Lithium Consultants Australasia (LCA) to advance the development of its hard rock lithium extraction process optimization technology being conducted at  Penn State University (PSU) as well […]

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VANCOUVER, March 11, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a consulting agreement with Lithium Consultants Australasia (LCA) to advance the development of its hard rock lithium extraction process optimization technology being conducted at  Penn State University (PSU) as well as advance the Company’s commercialization  of the technology.

Lithium Consultants Australasia (LCA) is based in Perth, Australia and assists companies to advance their lithium projects by conducting test work on their behalf which provides the necessary data required to design pilot and commercial scale plants. LCA has specialized knowledge and expertise in the extraction of lithium, along with a commitment to providing innovative solutions and exceptional support, to successfully develop rare mineral resources. Their services include test work design, flowsheet development, process modelling, lithium market intelligence, commercial plant design and development and feasibility studies.

Harrymore has partnered with LCA to work with PSU through their remaining optimization trials to ensure all work is performed with a near term commercialization goal.  LCA will develop overall flowsheet, high-level operating cost estimates, conduct a validation study and run a pilot plant scale-up program.

The Company’s technology comprises a patent-pending process for the extraction of lithium from alpha-spodumene. Lithium is one of the critical elements with widespread applications in next-generation technologies, including energy storage, electric mobility and cordless devices.[1] Due to its unique applications, lithium cannot be substituted in most applications; therefore, a steady increase of 8-11% in annual demand is anticipated.[2]  Meeting a rising demand for lithium requires prospecting and processing all viable resources. Two primary sources of lithium are hard rock ores (e.g., spodumene mineral) and brine, with clay sources considered secondary. Spodumene mineral is the major source of high-purity lithium; however, current technologies do not allow leaching of lithium from alpha-spodumene, and therefore most of the methods of lithium extraction from spodumene are focused on modifying the crystal structure of concentrated spodumene mineral into beta-spodumene using conventional heating (roasting) at 950-1100 degrees Celsius. However, such high-temperature roasting processes are very energy intensive and have been the bottleneck of the economic extraction of lithium from ores. Thus, there is a need for more energy-efficient and environmentally friendly methods for a high-yield extraction of lithium. The Technology is designed to satisfy these needs[3][4].

The Company’s technology begins with taking spodumene concentrate, introducing sodium hydroxide, and then proceeding with conventional or microwave roasting which transforms the alpha-spodumene into a soluble phase and is followed by a water leaching process to recover lithium.

More recently, the team at PSU has conducted a multi-step optimization phase on the current extraction process. To date, they have concluded optimization on the stage 1 roasting and water leaching process. The efforts of the optimization work have resulted in advancement of the alpha-spodumene extraction process running a two-stage roasting and leaching method with Li recovery now reaching over 99%. Updates to the patent applications have been filed with the proper authorities to encompass the breakthrough achieved by Mohammad Rezaee and his team at Penn State.

Furthermore, Harrymore is continuing in-depth discussions with a major international mining conglomerate for collaboration on the development of the hard rock lithium extraction technology in partnership with Penn State University and LCA. This potential agreement will allow for funding and expertise from the third-party towards the validation study and pilot plant program as well as additional expertise to aid in the commercialization of the extraction technology.”With hard rock lithium becoming a focus for lithium supply and many new hard rock lithium discoveries occurring around the world, including the world class Patriot Battery Metals’ Corvette discovery, in Quebec, the need for updated and efficient extraction technology is urgent. I commend the great work being conducted by our teams at Harrymore and Penn State and the recent advancement of the IP being generated. We are excited to have Grant Harman and his team at LCA run the commercialization efforts for our extraction technology,” states Kal Malhi, CEO & Director of Harrymore Lithium. Mr. Malhi continues, “They are top tier in the lithium extraction world, and we have all the confidence in their ability to guide the remaining optimization efforts and bring the technology towards commercialization in an expedited fashion.” 

About Harrymore Lithium Inc.

Harrymore Lithium is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company recently entered into the Definitive Agreement to acquire the Cominco Uranium Property located in Bathurst Inlet, Nunavut, Canada. Harrymore rebrand to “Harrymore Lithium” to better reflect the Company’s commitment to critical mineral exploration in support of the global green energy transition. The Company’s lithium exploration projects include the Lucky Mica Lithium Project, the ACDC Lithium Project and the Patriota Lithium Projection. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The ACDC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto’s Kaanaayaa project claims. The Patriota Lithium Project is 2,963 hectares located within the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil and host to similar geology as Sigma’s “Green Lithium Mine”. The Company also holds a long-term, exclusive license for a patent-pending process for extracting lithium directly from lithium-bearing materials, including but not limited to alpha-spodumene and other hard rock hosted minerals.  Such process was invented by researchers affiliated with Penn State and is co-owned by the Penn State Research Foundation and North Carolina State University.

 

About Penn State University, College of Earth and Mineral Sciences

For more than a century, Penn State’s College of Earth and Mineral Sciences has been a beacon of intellectual leadership on issues of utmost importance to the welfare of the Commonwealth, the nation, and beyond. We are a vibrant, inclusive community driven by curiosity to unlock how Earth’s systems, energy, and materials interact with one another and society. With our top-ranked programs; five academic departments; and more than 40 majors, minors, and certificates, we provide a comprehensive, high-quality education at the forefront of both innovative teaching and path-breaking research focused on meeting the needs of our global society.

The mission of the college is to advance knowledge, talent and leadership to elucidate Earth processes and history, harness and sustain natural resources and materials, and develop novel solutions to major challenges in energy, environment and wellbeing. We continue a strong tradition of building deep disciplinary expertise along with interdisciplinary teams, focusing on the interfaces of the natural science, social science, and engineering disciplines, where answers to the most pressing problems facing society await discovery.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.ca.

On Behalf of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

1 Meshram, P., Pandey, B. D., & Mankhand, T R. (2014) “Extraction of lithium from primary and secondary sources by pre-treatment, leaching and separation: A comprehensive review. Hydrometallurgy,” 150, 192-208.; Martin, G., Rentsch, L., Hoeck, M, & Bertau, M (2017). “Lithium market research-global supply, future demand and price development.” Energy Storage Materials, 6, 171-179.

2 Baylis, R, 2013, January. “Evaluating and forecasting the lithium market from a value perspective.” In Roskill presentation, 5 the Lithium Supply and Markets Conference, Las Vegas (pp. 29-31); ENTR, E (2014). “Report on Critical Raw Materials for the EU Ares” (2015), 1819503.

3 Shihua, H., Daulet, S., Pan, J., Vaziri Hassas, B., Akbari, H., Mensah-Biney, R. Rezaee, M.*, (2022). Direct Extraction of lithium from α-spodumene by salt roasting-leaching process. ACS Sustainable Chemistry and Engineering.

4 Rezaee, M., Shihua, H., Daulet, S., Vaziri Hassas, B., Slawecki, T. M., Agrawal, D., Akbari, H., Mensah-Biney, R. (2022). Microwave-assisted calcination of spodumene for efficient, low-cost, and environmentally friendly extraction of lithium. Powder Technology, 397, 116992.

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Harrymore Lithium ENTERS AGREEMENT TO ACQUIRE COMINCO URANIUM PROPERTY https://hertz-energy.com/hertz-energy-enters-agreement-to-acquire-cominco-uranium-property.html/ https://hertz-energy.com/hertz-energy-enters-agreement-to-acquire-cominco-uranium-property.html/#respond Tue, 13 Feb 2024 08:40:46 +0000 https://hertz-energy.com/?p=1843 VANCOUVER, February 13, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a Property Purchase and Sale Agreement dated February 2, 2024 (the “Definitive Agreement”) with BullRun Capital Inc. (the “Vendor”) pursuant to which the Company has agreed to acquire the Cominco […]

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VANCOUVER, February 13, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a Property Purchase and Sale Agreement dated February 2, 2024 (the “Definitive Agreement”) with BullRun Capital Inc. (the “Vendor”) pursuant to which the Company has agreed to acquire the Cominco Uranium Project, located in Bathurst Inlet, Nunavut, Canada (the “Cominco Property”).

PURCHASE AGREEMENT

The Company has entered into the Definitive Agreement to acquire the Cominco Property. Pursuant to the terms and conditions of the Definitive Agreement and as consideration for the acquisition of a 100% undivided interest in the Cominco Property, the has agreed to:

  • Reimburse the Vendor acquisition costs to date estimated not to exceed $75,000; and
  • grant the Vendor a two percent (2%) net smelter returns royalty on the Cominco Property.

Mr. Kal Malhi, CEO of Harrymore states, “Harrymore was always founded and positioned to explore for mineral deposits that will power the future. We started with our Lucky Mica project and have added the AC/DC Lithium Project, while also obtaining options to acquire the Snake and Patriota Lithium Projects, since our listing in April 2023. Adding the Cominco Property fits extremely well with our energy metals offering and we aim to aggressively explore both the lithium and uranium mineral projects and continue to offer investors a well-diversified energy metals project portfolio.”

The Vendor is wholly-owned by Kal Malhi, a director and officer of the Company. Accordingly, the Company’s acquisition of the Cominco Property constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for its acquisition of the Cominco Property, as the value of the consideration to be paid by the Company for the acquisition of the Cominco Property does not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

COMINCO URANIUM PROPERTY

The Cominco Property is focused on two main uranium showings of interest, the Pomie and the Yon showings in Nunavut (see Figure 1 below). Additional showings of uranium, copper, gold, nickel, and lead are known in the area. The Pomie and Yon showings were both explored in the mid 1970s by Cominco and Noranda and no work using modern exploration technologies has taken place since.

Previous regional work in the area by the Geological Survey of Canada (GSC) identified mineral potential for uranium in the area (Roscoe, 1984), based on the presence of the above showings and favourable stratigraphy for the formation of Unconformity Related Uranium (URU) deposits, similar to the stratigraphy found in the Athabasca and Thelon basins.

The Cominco Property covers the Yon and Pomie “Advanced Exploration” stage showings and is comprised of four licensing spanning 5,046.25 hectares covering favourable geology.

The two main uranium showings on the Cominco Property, the Yon and Pomie showings, are described in greater detail below. There are other smaller occurrences usually associated with copper mineralization in the region.

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HERTZ ANNOUNCES EFFECTIVE DATE OF NAME CHANGE TO Harrymore Lithium INC. https://hertz-energy.com/hertz-announces-effective-date-of-name-change-to-hertz-energy-inc.html/ https://hertz-energy.com/hertz-announces-effective-date-of-name-change-to-hertz-energy-inc.html/#respond Tue, 06 Feb 2024 08:39:07 +0000 https://hertz-energy.com/?p=1841 VANCOUVER, February 6, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that further to the Company’s news release February 1, 2024, the Company’s name will change from “Harrymore Lithium Inc.” to “Harrymore Lithium Inc.” effective February 9, 2024. The trading symbol for the Company will remain […]

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VANCOUVER, February 6, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that further to the Company’s news release February 1, 2024, the Company’s name will change from “Harrymore Lithium Inc.” to “Harrymore Lithium Inc.” effective February 9, 2024. The trading symbol for the Company will remain unchanged. The new CUSIP for the Company’s common shares will be 42804X107 and the new ISIN number will be CA42804X1078. The new CUSIP for the Company’s listed warrants will be 42804X115 and the new ISIN number will be CA42804X1151. The share capital of the Company remains unchanged.

Mr. Kal Malhi, CEO of Harrymore states, “This is a positive step forward in our rebrand towards diversified holdings focusing on multiple energy pathways that will power the future. Adding more critical minerals to our portfolio creates greater value potential for our shareholders. We are continuing our due diligence on uranium mineral projects in various jurisdictions and look forward to providing an update in due time.”

About the Company

The Company is a British Columbia-based mineral exploration company primarily engaged in the acquisition and exploration of energy mineral properties. The Company’s lithium exploration projects include the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the district scale AC/DC Lithium Project and Snake Lithium Project, both located in James Bay, Quebec. In addition, the Company is advancing a patent-pending hard rock lithium extraction technology in partnership with Penn State University.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.ca.

On Behalf of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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HERTZ LITHIUM INC. ANNOUNCES PROPOSED NAME CHANGE TO Harrymore Lithium INC. CONSIDERS URANIUM PROJECTS https://hertz-energy.com/hertz-lithium-inc-announces-proposed-name-change-to-hertz-energy-inc-considers-uranium-projects.html/ https://hertz-energy.com/hertz-lithium-inc-announces-proposed-name-change-to-hertz-energy-inc-considers-uranium-projects.html/#respond Thu, 01 Feb 2024 08:32:50 +0000 https://hertz-energy.com/?p=1839 VANCOUVER, February 1, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that, subject to approval of the Canadian Securities Exchange, the Company will be changing its name to “Harrymore Lithium Inc.” (the “Name Change”). The Company will provide further details with respect to the Name Change […]

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VANCOUVER, February 1, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that, subject to approval of the Canadian Securities Exchange, the Company will be changing its name to “Harrymore Lithium Inc.” (the “Name Change”). The Company will provide further details with respect to the Name Change in a subsequent news release.

 

HERTZ – CONSIDERING ACQUISITION OF URANIUM PROJECT(S)

Harrymore is also pleased to announce that the company is looking to ADD to its energy metals portfolio and conducting  advanced-stage due diligence on uranium mineral projects in various jurisdictions.  There is no guarantee that a project acquisition will be consummated and Harrymore will provide updates as due diligence progresses.

Kal Malhi, CEO states:” Harrymore was always founded to be an energy metals focussed company.  Since our listing last April, we have quickly built Harrymore with an amazing portfolio of lithium projects and recently closed our private placement of  $2,537,400. We believe uranium is also going to be an energy metal of the future and are conducting due diligence on several projects for possible acquisition if due diligence is positive.  We are not switching our focus away from  lithium projects, but complementing our energy metals project portfolio offering”

About Harrymore Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of  energy mineral properties. The Company’s lithium exploration projects include, the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the AC/DC Lithium Project located in James Bay, Quebec.  In addition, The Company in advancing hard rock lithium extraction technologies in partnership with Penn State Unviersity.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.com.

 

On Behalf of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change

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HERTZ LITHIUM INC. ENTERS LICENSE AGREEMENT WITH PENN STATE RESEARCH FOUNDATION https://hertz-energy.com/hertz-lithium-inc-enters-license-agreement-with-penn-state-research-foundation.html/ https://hertz-energy.com/hertz-lithium-inc-enters-license-agreement-with-penn-state-research-foundation.html/#respond Tue, 09 Jan 2024 15:00:00 +0000 https://hertz-energy.com/?p=1462 VANCOUVER, January 9, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a license agreement (the “License Agreement”) with the Penn State Research Foundation (the “PSRF”). Pursuant to the License Agreement, the PSRF has granted the Company a royalty-bearing exclusive license (the […]

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VANCOUVER, January 9, 2024 – Harrymore Lithium Inc. (the “Company”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that it has entered into a license agreement (the “License Agreement”) with the Penn State Research Foundation (the “PSRF”).

Pursuant to the License Agreement, the PSRF has granted the Company a royalty-bearing exclusive license (the “Patent Rights License”) to the PSRF’s patent-pending process for extraction of lithium from alpha-spodumene (the “Technology”)[1]. Further, pursuant to the License Agreement the PSRF has granted the Company a royalty-bearing non-exclusive license to certain know-how (the “Know-How”) necessary to derive the benefits of the Patent Rights (the “Know-How License” and together with the Patent Rights License, the “Licenses”). The Company maintains the right to sublicense the Licenses under the License Agreement to third parties.

The Technology comprises a patent-pending process for the extraction of lithium from alpha-spodumene. Lithium is one of the critical elements with widespread applications in next-generation technologies, including energy storage, electric mobility and cordless devices.[2] Due to its unique applications, lithium cannot be substituted in most applications; therefore, a steady increase of 8-11% in annual demand is anticipated.[3]  Meeting a rising demand for lithium requires prospecting and processing all viable resources. Two primary sources of lithium are hard rock ores (e.g., spodumene mineral) and brine, with clay sources considered secondary. Spodumene mineral is the major source of high-purity lithium; however, current technologies do not allow leaching of lithium from alpha-spodumene, and therefore most of the methods of lithium extraction from spodumene are focused on modifying the crystal structure of concentrated spodumene mineral into beta-spodumene using conventional heating (roasting) at 950-1100 degrees Celsius. However, such high-temperature roasting processes are very energy intensive and have been the bottleneck of the economic extraction of lithium from ores. Thus, there is a need for more energy-efficient and environmentally friendly methods for a high-yield extraction of lithium. The Technology is designed to satisfy these needs[4][5].

The Technology begins with taking spodumene concentrate, introducing sodium hydroxide, and then proceeding with conventional or microwave roasting which transforms the alpha-spodumene into a soluble phase. Next, the water leaching is currently used to recover up to 95% of the water-soluble lithiumc

“We are excited to have executed the license agreement with Penn State University and further solidify our partnership,” states Kal Malhi, CEO & Director or Harrymore Lithium. Mr. Malhi continues, “Owning the worldwide exclusive rights to develop and commercialize this patent-pending extraction process is a major differentiator for us in the junior exploration industry. We are in discussions with commercial lithium extraction experts to join our team and begin the next phase of development following the current optimization phase and we look forward to providing updates in the months ahead.”

About Harrymore Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include, the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the AC/DC Lithium Project located in James Bay, Quebec.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.com.

On Behalf of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

[1] Rezaee, M., Vaziri Hassas, B., Akbari, H., Agrawal, D., and Slawecki, T. (2021). Process for Extraction of Lithium. International Patent Application Number: WO2021155224A1.

[2] Meshram, P., Pandey, B. D., & Mankhand, T R. (2014) “Extraction of lithium from primary and secondary sources by pre-treatment, leaching and separation: A comprehensive review. Hydrometallurgy,” 150, 192-208.; Martin, G., Rentsch, L., Hoeck, M, & Bertau, M (2017). “Lithium market research-global supply, future demand and price development.” Energy Storage Materials, 6, 171-179.

[3] Baylis, R, 2013, January. “Evaluating and forecasting the lithium market from a value perspective.” In Roskill presentation, 5 the Lithium Supply and Markets Conference, Las Vegas (pp. 29-31); ENTR, E (2014). “Report on Critical Raw Materials for the EU Ares” (2015), 1819503.

[4] Shihua, H., Daulet, S., Pan, J., Vaziri Hassas, B., Akbari, H., Mensah-Biney, R. Rezaee, M.*, (2022). Direct Extraction of lithium from α-spodumene by salt roasting-leaching process. ACS Sustainable Chemistry and Engineering.

[5] Rezaee, M., Shihua, H., Daulet, S., Vaziri Hassas, B., Slawecki, T. M., Agrawal, D., Akbari, H., Mensah-Biney, R. (2022). Microwave-assisted calcination of spodumene for efficient, low-cost, and environmentally friendly extraction of lithium. Powder Technology, 397, 116992.

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Harrymore Lithium Enters Option Agreement for Maskwa Lithium Property https://hertz-energy.com/hertz-lithium-enters-option-agreement-for-maskwa-lithium-property.html/ https://hertz-energy.com/hertz-lithium-enters-option-agreement-for-maskwa-lithium-property.html/#respond Thu, 21 Dec 2023 17:05:19 +0000 https://hertz-energy.com/?p=1413 VANCOUVER, B.C –HERTZ LITHIUM INC. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce it has entered into an option agreement (the “Option Agreement”) with Sirios Resources Inc. (TSXV: SOI.V) (the “Vendor”) pursuant to which the Company has acquired the option (the “Option”) to acquire a 100% interest in the […]

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VANCOUVER, B.C –HERTZ LITHIUM INC. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce it has entered into an option agreement (the “Option Agreement”) with Sirios Resources Inc. (TSXV: SOI.V) (the “Vendor”) pursuant to which the Company has acquired the option (the “Option”) to acquire a 100% interest in the Maskwa property located in Eeyou Istchee James Bay in Quebec (the “Property”).

Pursuant to the terms and conditions of the Option Agreement, in order to exercise the Option the Company must:

  • pay the Vendor one hundred thousand dollars ($100,000) within three business days of the execution of the Option Agreement;
  • pay the Vendor one hundred thousand dollars ($100,000) in cash plus one hundred thousand dollars ($100,000) either in cash or in common shares upon the earlier of (i) receipt of the surface sampling results from the laboratory engaged by the Company to carry out the analysis of the surface samplings from the Property, and (ii) December 20, 2024; and
  • incur not less than five hundred thousand dollars ($500,000) in exploration expenditures on the Property on or before December 31, 2024, incur an additional seven hundred and fifty thousand dollars ($750,000) in exploration expenditures on the Property on or before December 31, 2025, and incur an additional one million dollars ($1,000,000) in exploration expenditures on the Property on or before December 31, 2026, exclusive of any tax.

 

Further, the Company must pay the Vendor two hundred and fifty thousand dollars ($250,000) either in cash or in common shares upon the successful confirmation of drilling results indicating a lithium concentration of one percent (1% Li2O) or more over a minimum of twenty-five (25) meters on the Property.

Upon the Company’s exercise of the Option it will also grant the Vendor a 1.5% NSR royalty on the Property. Additionally, the Company will grant the Vendor an option to purchase 100% of the mining rights related to the non-critical minerals located on the Property (the “Buy-Back Option”). In order to exercise the Buy-Back Option the Vendor must reimburse the Company for all exploration expenditures incurred on the Property, up to a maximum of $2,000,000.

Any shares issued to the Vendor pursuant to the Option Agreement will be subject to a statutory four month hold period pursuant to applicable Canadian securities laws

About Harrymore Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include, the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the AC/DC Lithium Project located in James Bay, Quebec. The Company is also working with Penn State University’s College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.ca.

On Behalf Of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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HERTZ LITHIUM ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT https://hertz-energy.com/hertz-lithium-announces-closing-of-non-brokered-private-placement.html/ https://hertz-energy.com/hertz-lithium-announces-closing-of-non-brokered-private-placement.html/#respond Thu, 21 Dec 2023 05:32:00 +0000 https://hertz-energy.com/?p=1410 VANCOUVER, December 20, 2023 – Harrymore Lithium Inc. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that, further to its news release on November 21, 2023, that the Company has closed its non-brokered private placement for aggregate gross proceeds of $2,537,400 (the “Private Placement”). The Private Placement consisted of […]

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VANCOUVER, December 20, 2023 – Harrymore Lithium Inc. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) is pleased to announce that, further to its news release on November 21, 2023, that the Company has closed its non-brokered private placement for aggregate gross proceeds of $2,537,400 (the “Private Placement”). The Private Placement consisted of the issuance of:

  • 5,763,333 units (the “Non-FT Units”) at a price of $0.18 per Non-FT Unit for gross proceeds of $1,037,400, with each Non-FT Unit consisting of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (each, a “Warrant”); and
  • 3,750,000 flow-through units (the “Charity FT Units”) at a price of $0.40 per Charity FT Unit, for gross proceeds of $1,500,000, with each Charity FT Unit consisting of one Share, to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”), and one Warrant.

 

Each Warrant entitles the holder thereof to purchase one additional Share (a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.40 per Warrant Share. The Warrants are subject to an accelerated expiry upon thirty (30) business days notice from the Company in the event the Shares trade for fourteen (14) consecutive trading days anytime after four (4) months from closing of the Private Placement at a volume-weighted average price of at least $0.60 on the Canadian Securities Exchange.

The net proceeds from the sale of Non-FT Units will be used for the advancement of the Company’s Lithium Extraction Technology, exploration at its Lucky Mica Project, Consulting/Management fees, marketing/IR, and general and administrative matters. The gross proceeds from the issuance of the Charity FT Units will be used for “Canadian Exploration Expenses” within the meaning of the Tax Act, which will be incurred on or before December 31, 2024, and renounced with an effective date no later than December 31, 2023, to the initial purchasers of the Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of Charity FT Units.

About Harrymore Lithium Inc. 

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include, the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the AC/DC Lithium Project located in James Bay, Quebec. The Company is also working with Penn State University’s College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.ca.

On Behalf Of the Board of Directors

Kal Malhi

Chief Executive Officer and Director

Phone: 604-805-4602

Email: kal@bullruncapital.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information 

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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HERTZ LITHIUM ANNOUNCES REVISED TERMS OF NON-BROKERED PRIVATE PLACEMENT https://hertz-energy.com/hertz-lithium-announces-revised-terms-of-non-brokered-private-placement.html/ https://hertz-energy.com/hertz-lithium-announces-revised-terms-of-non-brokered-private-placement.html/#respond Tue, 21 Nov 2023 18:29:37 +0000 https://hertz-energy.com/?p=1230 NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICE VANCOUVER, November 21, 2023 – Harrymore Lithium Inc. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) announces, further to its news release on November 3, 2023, that the Company has revised the terms of its previously announced non-brokered private placement. […]

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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICE


VANCOUVER, November 21, 2023 – Harrymore Lithium Inc. (the “Company” or “Hertz”) (CSE: HZ; OTCQB: HZLIF; FSE: QE2) announces, further to its news release on November 3, 2023, that the Company has revised the terms of its previously announced non-brokered private placement. The Company will now be conducting a non-brokered private placement for gross proceeds of up to $3,500,000 (the “Private Placement”).

The Private Placement will consist of the issuance of up to 11,111,111 units (the “Non-FT Units”) at a price of $0.18 per Non-FT Unit for gross proceeds of up to $2,000,000, and up to 3,750,000 flow-through units (the “Charity FT Units”) at a price of $0.40 per Charity FT Unit, for gross proceeds of up to $1,500,000. Each Non-FT Unit will be comprised of one common share in the capital of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share (each, a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.40 per Warrant Share. The Warrants will be subject to an accelerated expiry upon thirty (30) business days notice from the Company in the event the Shares trade for fourteen (14) consecutive trading days anytime after four (4) months from closing of the Private Placement at a volume-weighted average price of at least $0.60 on the Canadian Securities Exchange (the “CSE”).

Each FT Charity Unit will be comprised of one Share, to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) that will be issued as part of a charity arrangement, and one Warrant.

The net proceeds from the sale of Non-FT Units will be used for the advancement of the Company’s Lithium Extraction Technology, exploration at its Lucky Mica Project, Consulting/Management fees, marketing/IR, and general and administrative matters. The gross proceeds from the issuance of the Charity FT Units will be used for “Canadian Exploration Expenses” within the meaning of the Tax Act, which will be incurred on or before December 31, 2024, and renounced with an effective date no later than December 31, 2023, to the initial purchasers of the Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of Charity FT Units.

The Private Placement may close on one or more dates as the Company may determine.

The Company may pay a finder’s fee in connection with the Private Placement to eligible arm’s length finders in accordance with the policies of the CSE. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The securities issued pursuant to the Private Placement have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Harrymore Lithium Inc.

Harrymore Lithium is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include the Lucky Mica Lithium Project, the ACDC Lithium Project and the Patriota Lithium Projection. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The ACDC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto’s Kaanaayaa project claims. The Patriota Lithium Project is 2,963 hectares located within the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil and host to similar geology as Sigma’s “Green Lithium Mine”. The Company is also working with Penn State University’s College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology that utilizes a process for extracting lithium directly from alpha-spodumene.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedarplus.ca.

On Behalf Of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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Harrymore Lithium: Discovery of multiple outcropping pegmatite dykes identified at AC/DC Lithium Project – James Bay, Canada https://hertz-energy.com/hertz-lithium-discovery-of-multiple-outcropping-pegmatite-dykes-identified-at-ac-dc-lithium-project-james-bay-canada.html/ https://hertz-energy.com/hertz-lithium-discovery-of-multiple-outcropping-pegmatite-dykes-identified-at-ac-dc-lithium-project-james-bay-canada.html/#respond Fri, 03 Nov 2023 18:33:38 +0000 https://hertz-energy.com/?p=1196 Highlights Discovery of at least 7 pegmatite occurrences during maiden field program at AC/DC project. Field work followed up on twelve priority targets generates from a recent hyperspectral survey. Field work pin-pointed an approximately 100m long, 5-10m wide, and 5m thick pegmatite. Pegmatite compositions include white-pink feldspar, grey quartz, trace biotite +/- garnet, +/-tourmaline. Project […]

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Highlights

  • Discovery of at least 7 pegmatite occurrences during maiden field program at AC/DC project.
  • Field work followed up on twelve priority targets generates from a recent hyperspectral survey.
  • Field work pin-pointed an approximately 100m long, 5-10m wide, and 5m thick pegmatite.
  • Pegmatite compositions include white-pink feldspar, grey quartz, trace biotite +/- garnet, +/-tourmaline.
  • Project encompassing 516 contiguous mineral claims spanning 265 square kilometers, shares geology and is located contiguous to Rio Tinto’s Kaanaayaa Lithium Project.
  • Located 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals with an inferred mineral resource of 109.2 Mt at 1.4% Li2O¹.
  • Assays from maiden site visit expected in coming weeks.

Harrymore Lithium CEO & Director, Kal Malhi stated, “Harrymore Lithium just closed the transaction to acquire Canuck Lithium and the AC/DC Lithium project in James Bay on October 25, 2023. With the help of Dahrouge Geological and Mercator Geological, we were able to assemble an exploration crew to rush onto the property during the final workdays of the exploration season.  With only 3.5 workdays on the ground before the weather in James Bay turned adverse, we were able to target some very high-priority targets on the property and complete initial prospecting. The identification of multiple advanced pegmatites with lithium-associated minerals on the property is encouraging and provides our exploration teams strong confidence on the merits of the AC/DC project as well the adjoining Rio Tinto Kaanaayaa Lithium project which hosts similar geology as the AC/DC Lithium Project.”

Vancouver, British Columbia (Newsfile Corp. – November 3, 2023) – Harrymore Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the “Company” or “Hertz”) is pleased to announce that initial field work has been completed by consulting geologist from Mercator Geological Services Limited (Mercator). This initial work has resulted in the discovery of several pegmatite outcrops on the property with strike lengths up to 100 meters (Figure 1).

The AC/DC Project encompasses 516 contiguous mineral claims spanning 265 square kilometers, located contiguous to Rio Tinto’s Kaanaayaa Lithium Project (Figure 1) as well as 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals with an inferred mineral resource of 109.2 Mt at 1.4% Li2O¹ and 60 km west of Winsome Resources’ Adina Lithium property (Figure 2).

Work Completed on AC/DC Project in 2023

The Mercator Geological team was following up on targets generated from desktop research and hyperspectral surveys on the property that generated twelve (12) highly prospective pegmatite targets by Dahrouge Geological (Figure 1). Of significance was Target 7, where a 100-meter long by 10-meter wide pegmatite was discovered within the host amphibolite (Figure 3 to 5). Pegmatite compositions include white to pink feldspar, grey quartz, trace biotite +/- red garnet.

In addition, the field work positively identified tourmaline within pegmatite veins (up to 50 cm wide) hosted in strongly deformed biotite-schist within Target 9 (Figure 6). Composition of these veins included white feldspar, grey/purple quartz, common black tourmaline, trace red garnets, and rare biotite. The presence of tourmaline in a pegmatite body could be indicative of an evolved melt source that may be related to the emplacement of LCT-type pegmatites in the area. Further detailed mapping and sampling is required to confirm the presence of an LCT-type pegmatite system within the property.

A total of 10 outcrop and rock samples were collected (Table 1, Figure 1) by Mercator geologist across the property during the initial 3-day field visit. All samples have now been sent to ALS in Val d’Or Quebec for sodium peroxide borate fusion analysis. Results are expected in 4-6 weeks.

Property Geology

The property encompasses amphibolized mafic volcanics of the Rouget and Corvette Formations and plutons of the Vieux Comptoir Intrusive suite, similar to the geological setting that hosts both the Cancet and Corvette lithium projects. Both Cancet and Corvette are hosted by amphibolite rocks of Guyer Group, which is similar in age to the Rouget formation (Mesoarchean). The northwest trending mafic volcanics of Rouget and Corvette Formations and associated Vieux Comptoir suite continue northwest to the adjacent Rio Tino/Exploration Azimut Inc. and Rio Tinto/Exploration Midland Inc. project areas.

Harrymore Lithium CEO & Director, Kal Malhi continues, “In James Bay, the Patriot Battery Metals 109.2Mt discovery launched a frenzy of activity in the region this past summer with the first ever focus on lithium exploration. However, a severe summer fire season in June delayed exploration until mid to late October.  The theory that James Bay is a world class lithium district is proving to be true with many new discoveries being announced around the Patriot Battery Deposit. We are very pleased with exploration results from our AC/DC Lithium project that Harrymore acquired and congratulate the other companies and their discoveries shown in Figure 2 below.

Figure 1: ACDC project and confirmed pegmatite occurrences
Figure 2: Project location map
Figure 3: 100 meter long by 10 wide pegmatite outcrop at 23OP280 (looking SW)
Figure 4: Pegmatite outcrop at 23OP280
Figure 5: Pegmatitic texture at 23OP280
Figure 6: Tourmaline crystals identified in pegmatite vein at 23OP281
Table 1: Sample Descriptions

Harrymore Lithium Exploration Plans: Engaged Dahrouge Geological Consulting Ltd.

The Company is working with  Dahrouge Geological Consulting Ltd and Mercator Geolgoical Services to further advance the project. With the confidence generated from the current surface exploration, Harrymore is undertaking a flow through financing to fund an agreesive exploration program at the project.

Immediate plans are to  complete an aerial Light Detection and Ranging (LiDAR) Survey (the “Survey”) and high-resolution ortho imagery for an enhanced understanding of the AC/DC Project’s lithology and further confirmation of the priority targets prior to undertaking ground exploration programs. The Survey is designed to produce a sub-metric scale topographic model of the ground surface and high-resolution imagery with less than 20 cm pixel resolution. Pegmatite structures occur as elongated bodies, often relatively more resistant to erosion than their surrounding wall-rock and can form subtle elongated ridge like features. These discrete topographic highs and other geological features of interest can be identified through analysis of the high-resolution remote sensing datasets even in areas of thick vegetation.

In the Media

Please visit Resource World Magazine here to read the latest article on Harrymore Lithium. The article highlights the Company’s multi-pronged lithium assets including exploration properties and its novel patent-pending extraction technology currently in development.

Non-brokered Private Placement of Units

Additionally, the Company is pleased to announce a non-brokered private placement for gross proceeds of up to $2,000,000 (the “Private Placement”).

The Private Placement will consist of the issuance of up to 5,263,158 flow through units (the “Charity FT Units”) at a price of $0.38 per Charity FT Unit for gross proceeds of up to $2,000,000. Each  Charity FT Unit will be comprised of one common share in the capital of the Company (each, a “Share”), to be issued as a “flow-through share” in the capital of the Company within the meaning of the Income Tax Act (Canada) (the “Tax Act”) that will be issued as part of a charity arrangement, and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional non flow-through Share (each, a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.40 per Warrant Share. The Warrants will contain an accelerated option clause that states that if the Shares close at or above $0.60 for a period of 14 consecutive trading days on the Canadian Securities Exchange, then the Company may accelerate the expiry date of the Warrants by issuing a news release announced the reduced Warrant term, pursuant to which the Warrants will expire on the 30th calendar day after the date of such news release.

The gross proceeds from the issuance of the Charity FT Units will be used for “Canadian Exploration Expenses” within the meaning of the Tax Act, which will be incurred on or before December 31, 2024, and renounced with an effective date no later than December 31, 2023, to the initial purchasers of the Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of Charity FT Units.

The Private Placement may close on one or more dates as the Company may determine.

All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The securities issued pursuant to the Private Placement have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

“This strategic financing will garner the required funds to ensure a robust exploration program in James Bay, Quebec through the charity flow-through as well as additional funds for our projects in the Americas. We’d like to thank Mercator’s team for their efforts in the challenging conditions they faced. Once again, these results confirm the merits of the ACDC project and we look forward to spending much more time on the property next field season,“ said Harrymore CEO and Director, Kal Malhi.

About Harrymore Lithium Inc.

Harrymore Lithium is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include the Lucky Mica Lithium Project, the ACDC Lithium Project and the Patriota Lithium Projection. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The ACDC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto’s Kaanaayaa project claims. The Patriota Lithium Project is 2,963 hectares located within the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil and host to similar geology as Sigma’s “Green Lithium Mine”. The Company is also working with Penn State University’s College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology that utilizes a process for extracting lithium directly from alpha-spodumene.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at sedarplus.ca.

The scientific and technical information contained in this news release has been reviewed and approved by Matthew Harrington, P. Geo. OGQ, President of Mercator Geological Services Limited, a Qualified Person within the context of Canadian Securities Administrators’ National Instrument 43-101; Standards of Disclosure for Mineral Projects.

On Behalf of the Board of Directors

Kal Malhi

Chief Executive Officer and Director

Phone: 604-805-4602

Email: kal@bullruncapital.ca

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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