Business
Critical Elements Corp.: Update on Strategic Partner, Retention of Financial Advisor and Operational Update
MONTREAL, QUEBEC--(Marketwired - Dec. 20, 2017) - Critical Elements Corporation (the "Company" or "Critical Elements") (TSX VENTURE:CRE) (OTCQX:CRECF) (FRANKFUR
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - Dec. 20, 2017) - Critical Elements Corporation (the \"Company\" or \"Critical Elements\") (TSX VENTURE:CRE) (OTCQX:CRECF) (FRANKFURT:F12) is providing an update on strategic partner discussions, retention of a financial advisor and operations. Update on Strategic Partner Discussions As disclosed in the September 9, 2015 press release, in connection with their collaboration agreement (the \"Agreement\"), Critical Elements and Helm AG (\"Helm\") had a maximum delay of 60 days from the completion of the Company's feasibility study, filed October 20, 2017, to use their commercially reasonable efforts to finalize and execute a Take or Pay Off-take Agreement. As this Take or Pay Off-take Agreement has not been agreed between the parties within this specified timeframe, Critical Elements has elected not to grant any extension in this regard and has notified Helm of its decision to terminate the Agreement. Retention of Financial Advisor Global demand for lithium products has recently intensified with the aggressive launch of OEM Electric Vehicle platforms and government mandates for vehicle electrification. This has been accompanied by significant equity and project financings as well as strategic investment and merger and acquisition activities in the lithium sector. Critical Elements' strong feasibility study results, published in September 2017, increased the Company's visibility and profile within a robust lithium market. The Rose Lithium-Tantalum project (the \"Rose Project\" or the \"Project\") is a significant lithium deposit in the stable jurisdiction of Québec, Canada. The Company has engaged Canaccord Genuity Corp. as its strategic financial advisor to pursue, engage and evaluate global strategic partners and investors to advance the Rose Project to production. Operational Update Since the filing of the feasibility study, the Company has put considerable effort into the next steps for the development for the Rose Project including: Progressing on several fronts, including expanding the Company's operations team to prepare for the permitting and construction phase of the Rose Project. The team is preparing to commence the definitive feasibility study for the carbonate plant in Q1 2018 Critical Elements is working very closely with the Eastmain community to finalize the Impact and Benefit Agreeme...