Standard Lithium Ltd. (“
Standard
Lithium” or the “
Company”) (TSXV: SLI)
(NYSE American: SLI) (FRA: S5L), an innovative technology and
lithium project development company, announces that effective
immediately Dr. Volker Berl has been appointed as an independent
director of the Company.
“I am pleased to welcome Dr. Berl to the board
at this significant juncture in the Company’s evolution,” said
Robert Cross, Chair of Standard Lithium’s board of directors. “Dr.
Berl’s deep knowledge of the chemical industry coupled with his
experience in institutional capital markets and an outstanding
track record of investments in technology companies will be
extremely valuable as we advance our goal of bringing the first new
US lithium project into production in over 50 years.”
“I am excited to expand my involvement with Standard Lithium on
the heels of the recent NYSE American listing and technological
achievements”, Dr. Berl stated. “I look forward to representing
shareholders and working closely with the board and team as they
continue to execute on their strategic developments plans”.
Dr. Berl has been a venture builder and an avid
serial investor since 2009. He is the Founder, Managing Partner and
Chief Executive Officer of New Age Ventures, a venture studio with
a portfolio of earlier stage and actively managed investments
across healthcare, medical devices, digital health, cleantech,
consumer tech, deep tech, applied artificial intelligence, and
more. Mr. Berl is well connected in the New York technology
investment community, and currently serves as a director for
Gaussin S.A. (EPA:ALGAU) (since 2006), Leaderlease S.A. (since
2015), OrthogenRx, Inc. (since 2015), Venock, Inc. (since 2017),
Emoshape, Inc. (since 2020), and Artract Medical, Inc. (since
2021).
Dr. Berl has held positions with BASF AG in
Germany, from 2002 to 2005 in chemical manufacturing and process
engineering, and in global new business development for chemical
intermediates. In 2006, he was Vice President Equity Research
Pharmaceuticals for Deutsche Bank, and Chief Technology Officer for
bioscience company Zymes LLC from 2007 to 2009. Dr. Berl holds an
M.B.A. in General Management from Concordia University (Canada), a
post-doctoral chemistry fellowship from Stanford University (USA),
a Ph.D. in Chemistry from the University of Strasbourg (France), a
Masters in Chemical Engineering from the École Nationale Supérieure
de Chimie, Polymères et Matériaux (France), and an M.Sc. in
Chemistry from the Eidgenössische Technische Hochschule
(Switzerland).
In connection with the appointment, Dr. Berl has
been granted 22,500 performance share units (the
“PSUs”), 7,500 restricted share units (the
“RSUs”) and 200,000 incentive stock options (the
“Options”). Each PSU and RSU represents the right
to receive, once vested, one common share in the capital of the
Company. The PSUs will vest upon the achievement of the performance
milestones set forth in the Company’s news release of January 18,
2021. The RSUs vest quarterly in four equal parts over a
twelve-month period, with the first part vesting on September 30,
2021. The Options vest immediately and are exercisable at a price
of $6.08 until July 19, 2026.
The RSUs and PSUs were granted pursuant to the
long-term incentive plan (the “LTIP”) previously
adopted by the board of directors of the Company. Implementation of
the LTIP remains subject to ratification by disinterested
shareholders of the Company and approval of the TSX Venture
Exchange. No PSUs or RSUs will vest, and no common shares of the
Company will be issued in connection with any outstanding PSUs or
RSUs, until such time as the LTIP as received approval of
disinterested shareholders and the TSX Venture Exchange. In the
event such approvals are not received prior to December 31, 2021,
all PSUs and RSUs will be automatically cancelled without any
further right or entitlement.
About Standard Lithium Ltd.
Standard Lithium is an innovative technology and
lithium development company. The company's flagship project is
located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations. The company has
commissioned its first-of-a-kind industrial-scale direct lithium
extraction demonstration plant at Lanxess's south plant facility in
southern Arkansas. The demonstration plant utilizes the company's
proprietary LiSTR technology to selectively extract lithium from
Lanxess's tail brine. The demonstration plant is being used for
proof-of-concept and commercial feasibility studies. The scalable,
environmentally friendly process eliminates the use of evaporation
ponds, reduces processing time from months to hours and greatly
increases the effective recovery of lithium. The company is also
pursuing the resource development of over 30,000 acres of separate
brine leases located in southwestern Arkansas and approximately
45,000 acres of mineral leases located in the Mojave Desert in San
Bernardino county, California.
Standard Lithium is listed on the TSX Venture
Exchange and the NYSE American under the trading symbol “SLI” and
on the Frankfurt Stock Exchange under the symbol “S5L”. Please
visit the Company’s website at www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.
Robert Mintak, CEO & Director
For further information, contact Anthony Alvaro at (604) 240
4793
Twitter @standardlithium
LinkedIn https://www.linkedin.com/company/standard-lithium/
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. This news release may contain certain
“Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
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