Global Energy Metals Signs Strategic Partnership with Leading Battery Manufacturing Company
GLOBAL ENERGY METALS CORPORATION
T. +1.604.688.4219 [email protected] Twitter: @EnergyMetals
www.GlobalEnergyMetals.com
GLOBAL ENERGY METALS SIGNS STRATEGIC PARTNERSHIP WITH LEADING
BATTERY MANUFACTURING COMPANY
VANCOUVER, BC / TNW-ACCESSWIRE / MARCH 22, 2017 / GLOBAL ENERGY
METALS CORP. TSXV:GEMC (“Global Energy Metals”, the “Company” and/or
"GEMC") is pleased to announce the signing of a long-term strategic cooperation
agreement with Beijing Easpring Material Technology Co. (“Easpring”), 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 cooperation agreement, GEMC and Easpring have agreed to a
joint venture that will allow for the identification, acquisition, development, funding and
commercialization of cobalt projects. GEMC 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 GEMC’s project development opportunities.
Mitchell Smith, Global Energy Metals’ President and CEO stated:
"Our formal agreement launches a long-term strategic relationship with one of China’s
leading battery cathode manufacturing companies. GEMC 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 multi-faceted 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 cooperation agreement will take the form of a
joint venture, whereby the partners will complete the identification, acquisition and
development, funding and commercialization of various project(s). As opportunities for
major projects arise in the future, GEMC and Easpring may agree to develop the mine
together if it is considered in the best interests of both companies.
GEMC 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 ongoing
development costs. Easpring may exercise this financing option within a period of 60
days after having received written notice from GEMC to the effect that it has identified a
project for acquisition.
GLOBAL ENERGY METALS CORPORATION
T. +1.604.688.4219 [email protected] Twitter: @EnergyMetals
www.GlobalEnergyMetals.com
Beijing Easpring Material Technology Co.,Ltd, (SHE:300073)
Founded in 2001 and based in Beijing, China, Easpring engages in the research,
development, production and sale of energy materials. It offers lithium cobalt oxide,
multi-element oxide, lithium manganese oxide, and other cathode materials for small
lithium batteries and power batteries, as well as electronic ceramics materials. The
company is a leading specialized supplier of cathode material for lithium-ion batteries to
industry giants.
Global Energy Metals Corporation (TSXV:GEMC)
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. GEMC 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.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219 extensions 236/237
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