Business
Standard Lithium Completes US$100 Million Direct Investment From Koch Strategic Platforms
VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), a
About this update from Standard Lithium Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an innovative technology and lithium project development company, announces that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, has completed its US$100 million investment in Standard Lithium through a direct private placement (the “Direct Investment”). The Direct Investment is intended to support the Company’s strategic development goals and will be used by the Company to pursue the following objectives: Continue to rapidly advance the first commercial project proposed for the Lanxess facility; Accelerate and expand the Company’s development of the South West Arkansas Lithium Project; Continue to develop and commercialise modern lithium extraction and processing technologies and work collaboratively with Koch Engineered Solutions (“KES”) businesses; and, Allow for strategic project expansion. The Company, along with several Koch Industries subsidiaries, is also exploring opportunities to work collaboratively in several key areas. These potentially include working with KES which provides key process equipment, engineering, procurement, and construction services; as well as Koch Minerals & Trading which is involved in the trading of many of the materials that will be required by the Company in the future, as well as the lithium products it intends to produce. Terms of the Direct Investment Under the terms of the Direct Investment, KSP was issued 13,480,083 common shares of Standard Lithium (“Common Shares”) at a price of CDN$9.43 (US$7.42) per Common Share for aggregate gross proceeds to Standard Lithium of CDN$127,070,000 (US$100,000,000). All Common Shares issued to KSP are subject to statutory restrictions on resale until March 31, 2022 in accordance with applicable securities laws. In connection with the Direct Investment, Standard Lithium has granted KSP the right of first offer to participate in future equity financings for a period of sixty months. MaxEn Capital Advisors, Ltd., Howard L. Margulis, PLLC and related parties provided advisory services to the Company in connection with the Direct Investment, and as consideration for such services received a one-time fee of US$5,000,000 and 336,877 common share purchase warrants (each, a “W...