VANCOUVER, BC (December 14, 2018) — Liberty One Lithium Corp. (“Liberty One” or the “Company”) (TSX.V: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T), an exploration and development company focused on the acquisition and recovery of high-grade lithium deposits, wishes to provide a 2018 Summary and Outlook for 2019 activities.
The Company is pleased to advise it maintains an excellent cash position with approximately $8.2 million in cash and equivalents as noted in recent Q3 financial filings.
The financial health of the Company ensures working capital to maintain all aspects of the business including an ability to source undervalued lithium deposit opportunities in jurisdictions best positioned to deliver shareholder value.
Over the past year, the lithium market has seen significant depreciation due principally to perceived over capacity. However, in terms of actual production, virtually nothing has changed as the demand has continued to significantly outstrip production around the globe. Therefore, in the natural order of supply versus demand, recent reports show compelling arguments for an upcoming turn-a-round in the lithium sector. In the interim, the soft market has created excellent opportunities to acquire properties, in many instances at advanced stages of exploration and development from those company’s unable to manage the downturn in prices.
Company CEO, Brad Nichol notes, “Our research continually leads us back to the Lithium Triangle in South America. The region holds the most prolific and potentially profitable sources for brine extraction, and we believe that several opportunities that were unobtainable even 6 months ago, are now becoming probable targets for acquisition. Given the advanced state of many of these prospects we believe this presents an excellent opportunity to quickly gain value as the market corrects to meet demand. In this business, project location and timing can be critical, and all the trend indicators are lining up for a highly favourable Latin American resurgence.”
In related news and based on the current market assessment undertaken by both the Management and Board of Liberty One Lithium, it has been determined that in the interest of fiscal responsibility the Company has decided to sever its relationship with the Utah-based North Paradox property. Future investment in this project has been deemed counter-productive to the current goals of the Company; and thus, avails additional capital for strategic acquisition purposes.
CEO Nichol further notes, “Our shareholder base has been fantastic over the past year and we are deeply grateful and committed to making 2019 a break-out year for the Company. We thank everyone concerned for their dedication over the past year and wish you all a very happy holiday season in preparation for an outstanding New Year.”
ON BEHALF OF THE BOARD OF DIRECTORS
“/s/ Brad Nichol”
President & CEO
About Liberty One Lithium (TSX.V: LBY) (OTCQB: LRTTF) (FRRANKFURT: L1T)
Liberty One Lithium Corp. is an exploration company focused on the acquisition and development of high grade lithium brine deposits. The Company seeks regions ideally situated for lithium brine production via low-cost and well-proven evaporation methods, and are adjacent to substantive infrastructure and a skilled, experienced labour force. Liberty’s international team is comprised of recognized technical experts that have focused on lithium for decades. The Company is stringently managed with a critical eye on value-creative decision making, aimed at ensuring the Company is well-capitalized and consistently creating value for its shareholders.
Read more at: www.libertyonelithium.com/about-us/summary.
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “anticipates,” “plans,” “expects,” “intends,” “is expected,” “potential,” “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may,” “could,” “should,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.