Perth, Australia, August 20, 2024 – Green Technology Metals Limited (ASX: GT1), a Canadian-focused multi-asset lithium business, is pleased to announce it has executed a Framework Agreement and Corporate Equity Investment with leading South Korean EV battery metals producer EcoPro Innovation Co., Ltd.
Key highlights of the agreement include GT1 securing a A$8 million investment and a Framework Agreement with EcoPro Innovation Co., Ltd. This partnership supports GT1’s strategy to become Ontario’s first integrated lithium producer. The agreements cover both upstream (mining and raw material extraction) and downstream (processing and conversion) activities. Potential collaborations include developing mines and a proposed Lithium Conversion Facility.
The corporate equity investment is at a significant premium to the last closing price and a 40% premium to the 90-day VWAP for an investment of A$8 million via a two-tranche placement. Asset level investment options allow up to 12 months of exclusive rights to negotiate and agree on staged asset-level investments in the Seymour and Root mine developments.
The partnership with EcoPro brings extensive experience in lithium hydroxide production along with patented technology for lithium extraction. Joint funding applications have been submitted to Invest Ontario for government funding on the proposed Lithium Conversion Facility.
GT1 Managing Director, Cameron Henry, expressed optimism about the partnership with EcoPro and the potential for growth in North America. For further information, visit www.greentm.com.au or contact Jacinta Martino, Investor Relations Manager at [email protected]
SOURCE Green Technology Metals
