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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (27722)	3/28/2017 7:06:59 AM
From: northerner3	Read Replies (1) \| Respond to of 203020

Global Energy, Beijing Easpring to develop Co projects 2017-03-22 10:38 ET - News Release Mr. Mitchell Smith reports GLOBAL ENERGY METALS SIGNS STRATEGIC PARTNERSHIP WITH LEADING BATTERY MANUFACTURING COMPANY Global Energy Metals Corp. has signed a long-term strategic co-operation agreement with Beijing Easpring Material Technology Co., a leading battery manufacturing company, to jointly invest in and develop cobalt projects. Easpring is recognized as a leader in its industry and was the first Chinese supplier to export lithium cathode material to multiple overseas markets. At present, Easpring supplies five of the world's six largest lithium battery manufacturers and is the only Chinese supplier of high-quality cathode materials to China, Japan and Korea's high-end lithium-ion battery markets. As part of the strategic co-operation agreement, Global Energy Metals and Easpring have agreed to a joint venture that will allow for the identification, acquisition, development, financing and commercialization of cobalt projects. Global Energy Metals will acquire the expertise and relationships that Easpring offers, including low-cost capital from Chinese institutions, leading Chinese engineering and construction skills, and Chinese machinery, equipment and other critical suppliers that meet world-class standards of quality at competitive costs in exchange for access to Global Energy Metals' project development opportunities. Mitchell Smith, Global Energy Metals' president and chief executive officer, stated: "Our formal agreement launches a long-term strategic relationship with one of China's leading battery cathode manufacturing companies. [Global Energy Metals] recognizes Easpring's international reputation for its world-class financing and technical capabilities. Easpring is an example of China's drive to secure stable supplies of natural resources, including cobalt, crucial to its economy. This multifaceted partnership will provide significant opportunities to work together on projects and finance as we continue to create value for our respective shareholders." "Easpring has a strong commitment to supply cathode materials of lithium-ion batteries products to leading downstream users worldwide," stated Easpring's purchasing director, Jashon Guan. "We have a vested interest in building an efficient and reliable upstream raw material supply chain and see significant value creation opportunities in partnering with Global Energy Metals on projects that fit our resource strategy and secure access to cobalt material." The parties anticipate that the strategic co-operation agreement will take the form of a joint venture, whereby the partners will complete the identification, acquisition and development, financing, and commercialization of various project(s). As opportunities for major projects arise in the future, Global Energy Metals and Easpring may agree to develop the mine together if it is considered in the best interests of both companies. Global Energy Metals has agreed to grant Easpring a right of first refusal to acquire an interest of each project by committing to pay for the pro rata project acquisition and continuing development costs. Easpring may exercise this financing option within a period of 60 days after having received written notice from Global Energy Metals to the effect that it has identified a project for acquisition. Global Energy Metals Corp. Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets. Global Energy Metals anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake cobalt mine in Ontario, Canada. We seek Safe Harbor.