(TheNewswire)
August 31, 2017 / TheNewswire / Vancouver, British Columbia -
LiCo Energy Metals Inc. (the “Company “or “LiCo”) TSX-V: LIC; OTCQB: WCTXF is pleased to announce that effective today, Mr. Greg
Reimer has joined the LiCo Energy Metals Board of Directors.
Greg Reimer is the former Executive Vice-President (EVP) of BC Hydro’s Transmission & Distribution (T&D)
business group, and held the EVP position from June 2010 until recently leaving BC Hydro to pursue work in the green energy field.
In his senior executive capacity, Greg brings a wealth of operational experience and strong leadership from over 26 years in the
public sector.
At BC Hydro, Greg was responsible for approximately 2,300 employees who plan, design, build, operate and
maintain the systems and assets needed to deliver electricity safely and reliably to BC Hydro’s four million customers.
In total, Greg was accountable for $580M in annual capital investments in transmission and distribution infrastructure, and
$325M in annual operating and maintenance expenditures. Greg also recently led a major strategic, multi-year
transformation of BC Hydro’s T&D organization that is increasing operational efficiency, improving safety
performance, building a more reliable, modern electricity grid to meet growing customer expectations. BC Hydro
is Canada’s third largest electric utility with over $5.7 billion in annual revenues.
A Certified Public Accountant (CPA) by profession, Greg held a number of senior leadership positions in in the
public sector prior to joining BC Hydro, including Deputy Minister of Provincial Revenue, Chair of the BC Oil and Gas Commission
and, Deputy Minister of Energy, Mines and Petroleum Resources. “I am very excited to join the LiCo Board and have a much
greater role in making LiCo successful. Since joining LiCo’s Advisory Board in June, I quickly realized what a great company
we have here. I am very grateful to the members of the current LiCo Board for their vote of confidence.”
Tim Fernback, President & CEO of LiCo Energy Metals, states “We are thrilled to have such a high calibre
Director join our Board at LiCo. Greg brings a substantial wealth of experience, as well as practical mining industry experience in
his former role as British Columbia’s Deputy Minister of Energy, Mines and Petroleum Resources. Greg is clearly passionate
about the evolution of the global electric vehicle market and we are looking forward to his contribution to our
company.”
Concurrent with this board appointment, Mr. James Hellwarth will be resigning from the LiCo Board but will
continue with the Company as a member of the advisory board. LiCo is grateful for Mr. Hellwarth’s valuable input and looks
forward to his continued contribution in his advisory role.
About LiCo Energy Metals : https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company who's primary listing is on the TSX Venture
Exchange. The Company's focus is directed towards exploration for high value metals integral to the manufacture of lithium ion
batteries.
Chile Purickuta Lithium Project:
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about 100
km long, 80 km wide and home to approximately 37% of the worlds Lithium production. The salar possesses a very high grade of
both Lithium (1,840mg/l) and Potassium (22,630mg/l and is close to power, labour, communications, transportation and other
infrastructure. The property of 160 hectares is enveloped by a concession owned by Sociedad Quimica y Minera (“SQM”) and
lies, significantly, within a few kilometers of the property of CORFO (the Chilean Economic Development Agency) where its leases to
both SQM and Albermarle’s Rockwood Lithium Corp Together these two companies have combined production of over 62,000 tonnes of LCE
(Lithium Carbonate Equivalent) annually making up 100% of Chile’s current lithium output. The unique characteristics of Salar
de Atacama make finished lithium carbonate easier and cheaper to produce than any of its peer group globally.
Purickuta is a smaller exploitation concession rather than a large exploration concession thereby accelerating
the task of taking the project to production once a measured reserve can be established. Currently, the Chilean government
retains ownership of lithium separate from other minerals and thus production can only proceed upon receipt of a special lithium
operation contract know as a “CEOL”. In the future, it will be necessary for LiCo and partner to negotiate a production
contract with CORFO concurrently with completing any positive feasibility study. “Chile, which has one of the world's most
plentiful supplies of lithium, is pushing ahead with new policies to develop those reserves”. (Reuters Jan 2, 2017).
Ontario Teledyne Cobalt Project:
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near
Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905
through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of
the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under
option to LiCo Energy Metals.
Nevada Dixie Valley Lithium Project:
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration
project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal
fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in
South America.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest,
subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 128 placer
claims (2,560 acres/ 1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning an exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Tim Fernback, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to,
comments that involve future events and conditions such as the Company’s ability to exercise the Options, which are subject to
various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work
programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are
forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from
those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking
statements.
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