Business
Pure Energy Settles with Former Management
Denver, Colorado--(Newsfile Corp. - April 1, 2019) - Pure Energy Minerals Limited (TSXV: PE) (...
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"Pure Energy Settles with Former ManagementDenver, Colorado--(Newsfile Corp. - April 1, 2019) - Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) (the \"Company\" or \"Pure Energy\") announces that subject to regulatory approval, it will be issuing 1,086,441 shares at a deemed value of $0.13 per share to settle payments owing for former management services and out of pocket expenses. Pure Energy's board of directors is focused on the successful advancement and development of the Clayton Valley (\"CV\") Project and is engaged in discussions with interested potential strategic partners and funding parties. The Company appreciates the continued support of its shareholders, and the companies and individuals who are working closely with Pure Energy towards achieving this goal. Pure Energy is seeking a partner with technical and financial resources, the critical elements required to building the pilot plant and the future development of lithium production capacity at the CV Project. About Pure Energy Minerals LimitedPure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its CV Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 948 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy's CV Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.The Company has completed a Preliminary Economic Assessment (\"PEA\") for the CV Project (news releases of June 26, 2017 and April 5, 2018) which includes an updated resource calculation and a preliminary economic evaluation. The Company and its technical consultants have also completed the basic design for the proposed pilot plant (news release of May 31, 2018). The lithium-bearing brines identified at the CV Project are of high quality with very low impurity levels, and have been shown by small scale pumping tests to be amenable to conventional extraction. Pure Energy has received a finite-term water right permit from the Nevada Department of Water Resources (\"NDWR\") which is sufficient for construction and operation of the envisioned pilot plant and testing of ...