VANCOUVER, BC, March 7, 2022 /CNW/ - HeliosX Lithium &
Technologies Corp. ("HeliosX") (TSXV: HX) (OTCQB: HXLTF)
(FSE: C2U0) is pleased to report that the company's common shares
have commenced trading on the OTCQB Markets on March 4, 2022, quoted under the symbol
HXLTF.
The OTCQB, operated by OTC Markets Group Inc., is designed for
developing and entrepreneurial companies in the United States and abroad. Companies must
be current in their financial reporting, and undergo an annual
verification and management certification process, including
meeting a minimum bid price and other financial conditions.
With more compliance and quality standards, the OTCQB provides
investors improved visibility to enhance trading decisions.
The OTCQB is recognized by the U.S. Securities and Exchange
Commission as an established public market providing public
information for analysis and value of securities.
"HeliosX having a listing on the OTCQB is important to our
shareholders and interested investors as it provides greater
visibility within the investment community, resulting in enhancing
our liquidity and increasing our access to institutional and retail
investors", said Brian Findlay,
President of HeliosX.
Technical Confirmation of Lithium Opportunities in
Canada (Fox Creek) and Teels Marsh, Nevada
HeliosX engaged Dahrouge Geological Consulting Ltd. to provide a
National Instrument 43-101 geological review, authored by
John Gorham, P.Geol, of HeliosX'
Canadian assets as well as Teels Marsh, Nevada. The purpose of the NI 43-101 level of
geological review at this stage was to provide HeliosX management
confidence in moving forward with the exploration programs in each
jurisdiction. The NI 43-101 was not meant to provide a resource
estimate, but an independent detailed geological review only. Both
reports will be posted to the website for investors to review.
Major take-away on the Teels Marsh was the recommendation to
continue to move forward with exploration work. This recommendation
is based on sufficient information to date indicating the region's
potential for lithium brine. The proposal is to first drill to 500
meters to test the upper units of the geological play and
subsequently continue to drill down to a depth of 2,300 meters. The
reason for the two-phase approach was to better identify expected
drilling challenges in the first 150 meters, and a staged approach
would identify the drilling risks earlier.
The interpretation and conclusion for the Canadian properties
were, "that significant potential exists for the discovery of
lithium brines, capable of economic development, in reefal
carbonates of the Devonian Beaverhill Lake and Woodbend Groups, as
well as other potential aquifers including the Granite Wash."
Overall the author states that the Fox
Creek property "is to be a property of merit".
John Gorham, has certified both
reports as a Senior Geologist with Dahrouge Geological Consulting
Ltd. and has over 45 years of experience. The author did not
conduct a field visit on the property and utilized the technical
information made available by HeliosX and publicly available data.
John Gorham is independent of the
issuer of the report and is a Qualified Person for the purposes of
National Instrument 43-101.
About HeliosX
HeliosX is an integrated lithium exploration company,
incorporating the latest in direct lithium extraction
("DLE") technologies, to unlock potential commercial
opportunities in Alberta (Canada),
Nevada (USA) and Jujuy
(Argentina). Having over 560,000
lithium brine acres across three prospective lithium jurisdictions
provides shareholders with potential exposure to multiple lithium
brine play types. The company has selected specific DLE
technologies which it believes will maximize potential lithium
opportunities in each operational jurisdiction and continues to
move forward with technical modeling and information gathering to
better delineate the prospective lithium resources.
www.heliosx.ca
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
Notice on Forward Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to the integration of the businesses of
HeliosX and ongoing performance. Often, but not always,
forward-looking statements or information can be identified by the
use of words such as "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information.
With respect to forward-looking statements and information
contained herein, HeliosX has made numerous assumptions including
among other things, assumptions about general business and economic
conditions of the Company and the market in which it operates. The
foregoing list of assumptions is not exhaustive.
Although management of HeliosX believe that the assumptions
made and the expectations represented by such statements or
information are reasonable, there can be no assurance that
forward-looking statements or information herein will prove to be
accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. These factors include, but are not
limited to: risks associated with the business of HeliosX; business
and economic conditions in the lithium industry generally; changes
in commodity prices; changes in interest and currency exchange
rates; government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); changes in general economic conditions or conditions in
the financial markets; changes in laws; risks related to the direct
and indirect impact of COVID-19 including, but not limited to, its
impact on general economic conditions, the ability to obtain
financing as required; and other risk factors as detailed from time
to time. HeliosX does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
Not for distribution to U.S. Newswire Services or for
dissemination in the United
States. Any failure to comply with this restriction may
constitute a violation of U.S. Securities laws.
SOURCE HeliosX Lithium & Technologies Corp