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PHOENIX, AZ, April 28, 2018 /24-7PressRelease/ -- Lagrange Minerals Inc. is today pleased to announce that Panasonic Corporation has confirmed that they will invest USD $24.5 million of equity investment into the company. The primary purpose for the investment is funding into Lagrange Minerals' lithium brine mining projects in Catamarca Province, Argentina. Lagrange Minerals can confirm that due to the investment from Panasonic, the Northern Salar at Catamarca Province will begin lithium brine extraction and refining by September 2018. The entire project throughout the whole of the Catamarca Salar will be operating at full capacity by 2021.
Last month Lagrange Minerals announced they had signed a long term supply deal with Panasonic Corporation in which the Japanese corporation has agreed to buy 100% of all lithium mineral produced from the project in Argentina. That relationship with Panasonic has now been strengthened to enable the project to begin rapid progress of lithium mineral production.
Michael Harding, CEO of Lagrange Minerals Inc., stated today, "We are very pleased and grateful that Panasonic have deepened their relationship with the company with a commitment of a large equity capital investment. Last month we signed a supply deal with Panasonic for the Argentina project and now the large capital investment strengthens the relationship greatly. This new investment is a concrete foundation for the long term success of our project in Argentina. With our Chile projects already in production, the company is growing at faster rate than we anticipated a year ago."
Mr. Harding also remarked today, "Our shareholders can expect further exciting news in the near future relating to the project in Mexico. Keeping in mind that we already have a supply deal with Tesla Inc. for the Mexico project, we all know that Panasonic and Tesla are partners in the lithium battery Gigafactories. I think our investors can get the point I am making about future deals for the Mexico project."
On January 9, 2018, Lagrange Minerals Inc. released news stating that they are moving forward to go public with an IPO on the New York stock market and they intend to list the IPO within 2018. Lagrange Minerals can also confirm that they are currently negotiating underwriting contracts with 3 large well known Wall Street investment banks to bring the IPO to market later in 2018.
Lagrange Minerals Inc. intends to continue releasing updates regarding the progress towards the IPO and sales of pre-IPO shares by their institutional investors and private equity partners. Shareholders can be assured that all developments regarding further advancements regarding the projects or the IPO will be reported promptly.
About the Company:
Lagrange Minerals Inc. controls the Salar De Sol Brillante Lithium Brine Project, located in the Atacama Region of Northern Chile, in a joint venture partnership with SQM, The company also maintains a large lithium brine project in Catamarca Province in northwest Argentina. Furthermore Lagrange Minerals Inc. is developing the largest lithium project in North America at Zacatecas State, Mexico.
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