Business
Aqua Metals Receives Additional $5.0M Insurance Payment, a Total of $10.0M to Date
MCCARRAN, Nev., March 11, 2020 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with
About this update from Aqua Metals, Inc.
[{"type":"text","content":"MCCARRAN, Nev., March 11, 2020 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with its AquaRefining™ technology, announced that it has received an additional $5,000,000 of insurance payments for a total of $10,000,000 paid to date.\n Insurance Payout Summary Thus far, the Company has received 3 payments. $2,500,000 on December 23, 2019, $2,500,000 on January 30, 2020 and this payment of $5,000,000 announced today. The Company continues to work with its public adjustor and special counsel along with the insurers with the objective of collecting additional losses, up to a potential of $50,000,000 of insured losses. “I would like to acknowledge the long hours of comprehensive and diligent work of our finance and administration team, engineering and operations teams with support of our public adjustor and special counsel to affect the $10,000,000 of payments to date in the 100 days since the fire,” said Steve Cotton, President and CEO. “There is much more work to do but these funds have and will continue to fuel the Company’s go forward efforts and plans which we will be discussing further in our Business Update Conference Call.” Year End Results and Business Update Conference Call After the market close today, Wednesday, March 11, 2020 the Company will release 2019 financial results and hold a conference call with webcast at 1:30 PM PST (4:30 PM EST) to discuss these results. Interested parties are invited to register and listen to the call live over the internet at https://event.webcasts.com/starthere.jsp?ei=1288926&tp_key=7e934c3905. The live call is also available by dialing 877-497-9067 or for international callers 201-493-6706 and use conference ID: 13699973. If you do wish to ask a question, please access the internet portal as only questions submitted online will be accepted. A replay of the teleconference will be available on https://ir.aquametals.com/ir-calendar. A replay will also be available until April 11, 2020 by dialing 877-660-6853 or 201-612-7415 and using conference ID: 13699973. About Aqua Metals Aqua Metals, Inc. (NASDAQ:AQMS) is reinventing lead recycling with its patented AquaRefining™ technology. Unlike smelting, AquaRefining is a room temperature, water-based process that emits less pollution. The modular systems are intended to allo...