VANCOUVER, British Columbia, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Goat Industries Ltd. (the “Company” or “GOAT”) (CSE: GOAT), is pleased to provide the following guidance relating to ongoing corporate development initiatives focused on its Canadian lithium solvent extraction technology license.
GOAT controls a Canadian license for use of a leading lithium solvent extraction technology (the “Technology”) in Canada from Australia-based Ekosolve Ltd. (“Ekosolve”). The Technology is the culmination of four years of research and development by the faculty at the University of Melbourne’s Chemical Engineering Department. The Technology is positioned as a more cost-effective extraction technology than fractional crystallization, membrane filtering, MOF’s, adsorption, reverse osmosis, and ion exchange.
One of the key advantages of the Technology is the high rate of lithium yield targeting, which in some instances has been shown to be over 95%. Operating costs have also been shown to be reduced by more than 90%, as much of the solvent is reclaimed. Other systems, such as adsorption traditionally achieve between 72-80% yield, fractional crystallization of 50-70%, and ion exchange up to 80%. Further, evaporation ponds are not required, which the Company believes will provide an eco-friendlier solution than traditional extraction processes.
Since acquiring the Technology on October 27, 2022, GOAT has commenced a dedicated corporate development and educational outreach campaign focused with the objective of partnering with high-potential Canadian Companies with lithium-brine rich asset stacks. To date, the Company is engaged in multiple mature discussions regarding potential sub-licensing opportunities for the Technology. Further, GOAT is supporting the shipment of brine solution from an exploration and development Company focused on lithium-enriched brine projects in Western Canada to Ekosolve’s laboratory at the University of Melbourne for testing purposes. The Company will continue to report material updates regarding the Technology as they emerge.
ABOUT GOAT INDUSTRIES
GOAT Industries is an investment issuer focused on investing in high-potential companies operating across a variety of sectors. The paramount goal of the Company will be to generate maximum returns from its investments.
The Company’s final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” INFORMATION
This news release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. All such forward-looking statements involve substantial known and unknown risks and uncertainties (including those risk factors identified in the Company’s prospectus dated February 15, 2022), certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, the Technology; expectations relating to the use of the Technology by the Company; the anticipated advantages of the Technology; and the benefits of the Technology over traditional lithium extraction processes. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect and the actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
GOAT Industries Ltd.