Gold Lion Acquires New Generation Battery Recycling Technologies
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GOLD LION RESOURCES INC.
NEWS RELEASE
Gold Lion Acquires New Generation Battery Recycling Technologies
Vancouver, British Columbia / July 2 5, 2022 – Gold Lion Resources Inc. (“Gold Lion” or the
“Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) announces that it has signed and closed a share
purchase agreement dated July 2 0, 2022 (the “SPA”) with Sustainable Li-Ion Research Inc. (“SLIR”)
and SLIR’s shareholders in respect of a previously announced transaction (the “Transaction”) whereby
the Company has acquired all of the issued and outstanding securities of SLIR. SLIR’s principal asset
and undertaking is its interest, through a wholly-owned subsidiary, in a license agreement and a
sponsored research agreement in the field of the recycling of lithium-ion batteries.
After in -depth research and assessment activities, Gold Lion (GL) would like to introduce new
generation battery recycling technology. This strategic acquisition of Sustainable Li -Ion Research Inc.
will allow GL to leverage a unique technology licensing opportunity from a leading Singapore
University.
This proprietary technology and process will significantly enhance the recovery, extraction and overall
recycling performance while maintaining environmental and cost-effective metrics.
With industrial approaches to recycling battery waste generating harmful pollutants, hydrometallurgy
(using water as a solvent for extraction ) is increasingly being explored as a possible alternative. This
process involves first shredding and crushing used batteries to form a crushed material called black mass.
Researchers then extract valuable metals from black mass by dissolving it in a mix of strong acids or
weak acids plus other chemicals like hydrogen peroxide under heat, before letting the metals precipitate.
While relatively more eco -friendly than conventional methods, the use of such strong chemicals on an
industrial scale could generate a substantial amount of secondary pollutants, posing significant safety and
health risks.
The NTU Singapore team found that the combination of orange peel that has been oven-dried and ground
into powder, and citric acid, a weak organic acid found in citrus fruits, can achieve the same goals.
The methodology and process to extract valuable metals from end -of-life lithium cobalt oxide (LCO)
batteries with the assistance of pulverized orange peel (OP) involve a series of mechanical and chemical
treatments/reactions that were successful. The team demonstrated their concept using orange peel, which
recovered precious metals from battery waste efficiently. They then made functional batteries from these
recovered metals, creating minimal waste in the process.
Commented, Guy Bourgeois CEO of Gold Lion, “ With growing global demand of electric vehicles and
portable electronics, n ext generation li-ion battery recycling technology is essential. Fortunately, Gold
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
Lion’s proprietary process could eliminate waste by di verting end-of-life li-ion batteries from landfills;
reduce mined raw materials by providing recycled materials for the li -ion battery supply chain; improve
manufacturing costs by recycling cathode scrap for use in future lithium−ion cathode manufacturing and
eliminate carbon emissions with its closed-loop hydrometallurgical process.”
Pursuant to the SPA, the Company issued an aggregate of 10,000,000 common shares in its capital on
July 22, 202 2 (the “Consideration Shares”) to the SLIR shareholders at a deemed price of $0.05 per
Consideration Share, representing an aggregate purchase price of $500,000. The aggregate consideration
paid under the Transaction was based on a valuation of SLIR dated July 2, 2022, which was prepared
by an independent business valuator.
The Transaction was completed pursuant to available prospectus exemptions in accordance with
applicable securities legislation. The Consideration Shares are subject to a hold period of four months
and a day from issuance pursuant to applicable securities laws. The Transaction was an arms-length
transaction for the Company and did not constitute a fundamental change or result in a change of control
of the Company, within the meaning of the policies of the CSE.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its
precious metal focused portfolio including Black Lake, Cuteye and Fairview Properties located in British
Columbia, Saskatchewan and Idaho, USA. For more information please visit:
https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Guy Bourgeois, CEO
T: 902.225.8881
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the
accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Often, but not always, forward -looking information and information can be
identified by the use of words such as “plans”, “expects” or “does not expect”, “is ex pected”,
“estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be
taken, occur or be achieved. Forward -looking information in this news release includes statements
regarding: assumptions that are subject to significant risks and uncertainties. The forward -looking
information reflects management's current expectations based on information currently available and are
subject to a number of risks and uncertainties that may cause outcomes to differ materially from those
discussed in the forward-looking information. Although the Company believes that the assumptions and
factors used in preparing the forward-looking information are reasonable, undue reliance should not be
placed on such information and no assurance can be given that such events will occur in the disclosed
time frames or at all. Factors that could cause actual results or events to differ materially from current
expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the
Company. New risk factors emerge from time to time, and it is impossible for the Company’s
management to predict all risk factors, nor can the Company assess the impact of all factors on
Company’s business or the extent to which any factor, or combination of factors, may cause actual results
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
to differ from those contained in any forward-looking information. The forward -looking information
included in this news release are made as of the date of this news release and the Company expressly
disclaims any intention or obligation to update or revise any forward-looking information whether as a
result of new information, future events or otherwise, except as required by applicable law. Additional
information identifying risks and uncertainties that could affect financial results is contained in the
Company’s filings with Canadian securities regulators, which are available at www.sedar.com.