TORONTO, May 11, 2018 /CNW/ - Namibian lithium developer
and emerging lithium concentrate producer Desert Lion Energy Inc.
(TSXV: DLI) (OTCQB: DSLEF) ("Desert Lion" or the "Company") is
pleased to announce that the common shares of the Company will
commence trading on the OTCQB in the
United States today, Friday, May 11,
2018, under the trading symbol "DSLEF".
"We are excited to begin trading on the OTCQB today. Listing in
the United States, specifically in
a marketplace designed to support growth-oriented companies, will
assist Desert Lion in engaging with a broader network of North
American investors, which plays an important role in the Company's
capital markets program. We look forward to be a part of the OTCQB
marketplace as we continue to advance our Phase I production plan,"
commented Tim Johnston, President
and Chief Executive Officer of Desert Lion Energy Inc.
About Desert Lion Energy
Desert Lion Energy is an
emerging lithium development company focused on building
Namibia's first large-scale
lithium mine to be located approximately 210km from the nation's
capital of Windhoek. The Company's
Rubicon and Helikon mines are located within a 301km2
prospective land package, with known lithium bearing pegmatitic
mineralization and the Company is currently in Phase 1 of its
production plan, producing and exporting lithium concentrate from
stockpiled material. The project site is accessible year-round by
road and has access to power, water, rail, port, airport and
communication infrastructure.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Generally, any statements that are not historical facts may contain
forward-looking information, and forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget"
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or indicates that certain actions, events or results
"may", "could", "would", "might" or "will be" taken, "occur" or "be
achieved." Forward-looking information includes, but is not limited
to: statements and expectations regarding the targeted additional
tonnage of lithium concentrate production from Phase 1 operations;
the timing for the construction and commissioning of the Company's
Phase 1 floatation plant; the exercise of the conversion option by
Jinuui pursuant to the Offtake Agreement; the anticipated timeline
for publication of the mineral resource estimate and preliminary
economic assessment; the anticipated timeline for the approval of
the Company's application for its Phase 2 mining license; and the
Company's planned work program for the Project and its exploration
and development schedule and timetable.
Forward-looking information is based on certain factors and
assumptions management believes to be reasonable at the time
such statements are made, including but not limited to, continued
exploration activities, lithium and other metal prices, the
estimation of initial and sustaining capital requirements, the
estimation of labour and production costs, the estimation of
mineral reserves and resources, assumptions with respect to
currency fluctuations, the timing and amount of future exploration
and development expenditures, receipt of required regulatory
approvals, the availability of necessary financing for the Project,
permitting and such other assumptions and factors as set out
herein.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
risks related to changes in lithium prices; sources and cost of
power and water for the Project; the estimation of initial capital
requirements; the lack of historical operations; the estimation of
labour and operating costs; general global markets and economic
conditions; risks associated with exploration, development and
operations of mineral deposits; the estimation of initial targeted
mineral resource tonnage and grade for the Project; risks
associated with uninsurable risks arising during the course of
exploration, development and production; risks associated with the
estimation of targeted production tonnages from Phase 1 operations;
risks associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support exploration activities; risks
associated with changes in the mining regulatory regime governing
the Company and the Project; completion of the environmental
assessment process; risks related to regulatory and permitting
delays; risks related to potential conflicts of interest; the
reliance on key personnel; financing, capitalization and liquidity
risks including the risk that the financing necessary to fund
continued exploration and development activities at the Project may
not be available on satisfactory terms, or at all; the risk of
potential dilution through the issuance of additional common shares
of the Company; the risk of litigation.
Although the Company has attempted to identify important
factors that cause results not to be as anticipated, estimated or
intended, there can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information is made
as of the date of this presentation and the Company does not
undertake to update or revise any forward-looking information this
is included herein, except in accordance with applicable securities
laws.
SOURCE Desert Lion Energy