VANCOUVER, BC (July 21, 2022) —Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (“Clear Sky” or the “Company”), a mineral exploration and development company focused on American lithium deposits to support domestic demand, is pleased to offer a perspective of the lithium mining opportunity present within its regional area of operations in Nevada, USA.
Today, the USA is home to only one active lithium mine in Nevada. Consequently, much of the world’s lithium comes from South America, Australia, and China, with the U.S. producing less than 2% of the world’s supply of lithium. According to a report by the USGS, lithium supply security has become a top priority for technology companies in the United States and Asia. Strategic alliances and joint ventures among technology companies and exploration companies continue to be established to ensure a reliable, diversified supply of lithium for battery suppliers and vehicle manufacturers. In a strategic response, the Biden administration announced access to funding for a variety of resource sector initiatives through the Defense Production Act as well as a $5B plan. This plan has shown to be successful with the announcement in the last month of two multi-billion dollar lithium-ion battery factories to be built in the USA.
Clear Sky’s CEO and Director, Craig Engelsman, comments, “We are really excited for our prospects in central Nevada. It’s a mining-friendly region and once the industry hits the tipping point in transforming development projects into producers, I believe we will see job creation and capital investment flow into the region like the big oil days in Texas, Oklahoma, North Dakota, New Mexico, Colorado, and Alaska. Lithium is the new oil and Nevada is the right place at the right time. There are already several advanced stage lithium projects nearby, and we look forward to advancing our current ELi lithium property and any future claims into playing an important role in this exciting segment of the resource sector, in support of the world’s remarkable new generation of domestic electrification.”
Its not just electric vehicles driving battery demand either, significant demand for intermittent renewable energy generation such as solar and wind are increasing the demand and viability for lithium battery solutions that encompass home storage to mega grid installations. The growth of the large storage sector is transforming job opportunities and investment across the nation in a myriad of ways and breathing new life into regions and communities which have languished due to the exodus of American manufacturing to China in previous decades.
In fact, research data from BMI reported the gigafactory pipeline is now over 300 projects and is up 68% YoY to 6,387.6 GWh, which would require about 5.4 million tons of lithium (LCE) per year by 2030-32. In 2021, the world produced just 0.54 million tons of lithium (LCE). Recently, the Nevada Division of Minerals published that as of May 28, 2022 an estimated 15,494 active, filed, and submitted lithium placer claims, have been located in Nevada. With the U.S. lithium battery market alone expected to reach $10.3B by 2026, and with global demand poised to achieve $52.5B for the same period, recent media reports indicate the world is beginning to understand that large volumes, perhaps ten times (10X) the current production of new lithium supply will be needed this decade to meet growing demand.
The Company is pleased to announce that certain holders of its share purchase warrants (“Warrants”), have exercised an aggregate of $145,017. The Company intends to use the proceeds from the exercise of the Warrants to fund digital marketing and awareness campaigns.
The Company also announces that it has engaged bullVestor Medien GmBH (“bullVestor”), an arm’s length party to the Company, to provide digital marketing services commencing on July 15, 2022, and running through October 15, 2022. The services will include the creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns (collectively, the “Services”). In consideration for providing the Services, the Company has agreed to pay to bullVestor EUR250,000. Consideration offered to bullVestor does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with bullVestor.
BullVestor’s business address is located at Gutenhofen 4, 4300 St. Valentin, Austria, email is email@example.com, telephone number is +43 (0) 74354407 and website is www.bullvestor.com.
Clear Sky Lithium advises that as part of its disclosure obligations as a public issuer, all material and regulatory filings can be found on www.sedar.com. We also invite the public to visit our website at www.powrlithium.com and to sign up to our “news alerts” to be advised of future news releases and related company information. Please also ensure you watch our video which is available on the website.
On Behalf of The Board of Directors,
Chief Executive Officer & Director
Clear Sky Lithium Corp.
About Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W)
Clear Sky Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The Company holds interests on the ELi property in Nevada. The Company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner. Find out more visit www.powrlithium.com and watch our video.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, global trends towards clean energy, projected growth of demand for lithium and domestic resource production, technological advancements increasing the viability of lithium-ion batteries, the Company’s ability to develop new lithium extraction and processing techniques, the Company’s plan to further strategic exploration on the ELi property, and the Company’s plans to engage key partnerships across relevant fields of academia, as well as industry experts, commercial research and development labs, and end-users to evaluate the highest value clean-tech extraction and processing techniques.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s final long form prospectus dated May 31, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Clear Sky Lithium Corp.
Telephone: +1 (778) 383-7240