2017-04-04 10:30 ET - News Release
Mr. Allan Laboucan reports
ALSET ENERGY ANNOUNCES NAME CHANGE TO BETTER REFLECT ITS GOALS
Alset Energy Corp. will be changing its name to Alset Minerals Corp., while keeping its current stock symbol. The name change reflects the company's broader focus and commitment of developing its Mexican salar projects, which can potentially serve a wide spectrum of agriculture, chemicals and industrial minerals markets, in addition to its lithium focus.
While a large portion of Mexico's GDP (gross domestic product) comes from farming, most of its potassium is imported, resulting in the high price of fertilizer. As a result, most small farmers have limited access to these products. This issue is such a significant problem that the Mexican government instigated what it calls a "national crusade against hunger" in January, 2013. Fertilizer components such as potassium and boron are found in Alset's Mexican salars, and as such, have the potential to complement the efforts of Mexican farmers and their domestic needs.
"Considering that our Mexican salars are characterized by high-grade lithium, along with high-grade potassium and other fertilizer components, we felt it is important to better reflect our corporate goals with a new name. The new name allows us to emphasize our wide-ranging project development objectives of maximizing the value of all potential mineral compounds present in our Mexican salars. Mexico is among the world's leading agri-food producers; however, the country remains a net food product importer. Self-sufficiency in crop nutrients and agri-minerals plays one of the critical, strategic components in the country's agriculture and chemicals sectors," said Allan Barry Laboucan, president and chief executive officer of Alset Minerals. "We feel very fortunate to have the potential to play a role in those markets while also having exceptional exposure to the opportunities in the lithium space. As we gear up for an exciting time with our exploration and drilling campaign, we look forward to maximizing the value of our salars' multimineral composition, while utilizing our project location, existing infrastructure and community support."
The company has also granted, subject to regulatory approval, 250,000 stock options at an exercise price of 15 cents for five years to a director of the company.
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