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Fuse Cobalt signs MOU with Electra Battery Materials as a First Step to Supply Cobalt Raw Material for Electras Cobalt Refinery in Ontario
(TheNewswire) Coquitlam, BC – TheNewswire - August 11, 2022 – ...
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"Fuse Cobalt signs MOU with Electra Battery Materials as a First Step to Supply Cobalt Raw Material for Electras Cobalt Refinery in Ontario\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Coquitlam, BC –\n \n \n TheNewswire -\n \n \n August 11, 2022 –\n \n \n Fuse Cobalt Inc.\n \n \n (“the Company“ or “Fuse”)\n \n \n (TSXV:FUSE\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:FUSEF\n \n \n )\n \n \n (\n \n \n FRA:43W3)\n \n \n ”)\n \n \n is\n \n \n pleased\n \n \n to announce that effective August 9, 2022 , the\nCompany has signed a non-binding Memorandum of Understanding\n(“MOU”) regarding a Cobalt Raw Material Supply Agreement with\n \n \n Electra Battery Materials\nCorporation\n \n \n (“Electra”) (\n \n \n NASDAQ: ELBM, TSX: ELBM\n \n \n ). This agreement is focused primarily on Fuse’s Teledyne\nand Glencore Bucke Cobalt Exploration Projects located in Cobalt,\nOntario in close proximity to Electra’s cobalt sulfate refinery in\nTemiskaming Shores, Ontario.\n \n \n \n \n Mr. Robert Setter, Fuse CEO comments “This MOU is the\nfirst step towards a potential Definitive Agreement to supply cobalt\nraw material for Electra’s nearby cobalt refinery and sets out the\nterms by which we will exchange information with Electra to advance a\npotential transaction to involving the supply of cobalt raw materials.\n The end result of this collaboration will be the execution of a\nDefinitive Agreement to provide cobalt feed stock to the Electra\nCobalt Refinery which is roughly\n \n \n a stone’s throw away\n \n \n from our two cobalt exploration properties in\nOntario.”\n \n \n \n \n Trent Mell, Electra’s CEO stated, “Having a\ndomestic source of cobalt raw material produced ethically and with\nlow-carbon emissions will help us to better address the demand for\nonshore EV battery materials.  We look forward to working with Fuse\nCobalt as they advance development of their projects and begin\nproduction.”\n \n \n \n \n The Transaction contemplates the supply of cobalt raw\nmaterial from either one or both of the Company’s Glencore Bucke and\nTeledyne mining projects located in northeastern Ontario, Canada. The\ntransaction is expected to provide a\n \n \n ȁ...