Standard Lithium Announces US$100 Million Direct Investment From Koch Strategic Platforms
Standard Lithium Ltd.Wed, November 24, 2021, 12:00 PMIn this article:SLI+3.20%VANCOUVER, British Columbia, Nov. 24, 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, today announced that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, will make a US$100 million investment in Standard Lithium through a direct private placement to support the Company’s strategic development goals.Key Points:US$100 million direct private placement (the “Direct Investment”);Standard Lithium to issue 13,480,083 common shares (“Common Shares”) of the Company at a price of CDN$9.43 (US$7.42) per Common Share;Direct Investment follows extensive due diligence into Standard Lithium’s LiSTR DLE technology, Demonstration Plant and project development objectives; and,Parties to explore opportunities to work with several Koch Industries subsidiaries in key areas of alignment with Standard Lithium’s project development needs (the “Strategic Opportunities”).In addition to the new capital, the Company, along with several Koch Industries subsidiaries, are exploring Strategic Opportunities to work collaboratively in several key areas. These potentially include working with Koch Engineered Solutions (“KES”) which provides key process equipment, engineering, procurement, and construction services; as well as Koch Minerals & Trading (“KM&T”) 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.The net proceeds of the US$100 million Direct Investment 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 KES businesses; and,Allow for strategic project expansion.“We’re entering an important phase for Standard Lithium and we’re thrilled to be starting it with a globally recognized industrial leader like Koch Strategic Platforms as a partner” said Robert Mintak, CEO of Standard Lithium. “KSP has an impressive track record of investing in disruptive technologies and their backing is an important endorsement of the Company’s core technology, development plans and of our intent to make the Gulf Region a leading supplier of lithium resources.”
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