🖋ECS Signs Letters of Intent With Off-Take Partners🖋 eCobalt Advances Due Diligence with Potential Off-Take Partners
VANCOUVER,
Jan. 16, 2018 /CNW/ - eCobalt Solutions Inc. ("eCobalt" or "the Company") (TSX: ECS, OTCQX: ECSIF) has made significant progress in identifying strategic off-take partners for its clean cobalt concentrate. The Company has signed multiple Letters of Intent (the "LOIs") with reputable firms across different markets and cobalt supply chains. Due diligence is currently in progress as the Company works towards negotiating definitive terms in parallel with continued advancement of the Idaho Cobalt Project ("ICP").
With rapidly growing market demand, eCobalt's clean cobalt product has garnered a significant amount of interest providing further support for the Company's decision to produce a cobalt concentrate from the ICP. The ICP is the only environmentally permitted, near-term primary cobalt deposit in the United States, positioning eCobalt to capitalize on the strengthening fundamentals of the cobalt market.
"Marketing of the ICP and clean cobalt concentrate during the past few months has been successful and has culminated in the receipt of multiple proposals for off-take arrangements," stated Paul Farquharson, President and CEO of eCobalt. "This demonstrates the increasing demand for ethically-sourced cobalt in a supply deficit market. These LOIs present many options with various potential off-take partners. Our goal is to form a long-term partnership with a strong off-take partner who can provide support and flexibility, and deliver value for the ICP. Not only is this a critical component of project financing, but it is also critical for the long-term success of the project."
About eCobalt Solutions Inc.
eCobalt is a well-established Toronto Stock Exchange listed company committed to providing ethically produced, environmentally sound, battery grade cobalt products, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. The Company's ICP, located in East Central Idaho, is the only environmentally permitted, primary cobalt project in the United States. It is 100% owned by the Company's wholly owned subsidiary, Formation Capital Corporation, U.S.
For more information visit www.eCobalt.com.
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