RENO, NEVADA--(Marketwired - Apr 11, 2016) -
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Lithium Americas Corp., ("Lithium Americas" or "LAC") (LAC.TO) (LACDF) is pleased to announce that its wholly-owned subsidiary, Hectatone Inc. ("Hectatone") has entered into a strategic alliance with TOLSA, S.A. ("TOLSA"), a global leader in the specialized clay sectors. Hectatone and TOLSA have signed a non-exclusive Memorandum of Understanding ("MOU") for the purpose of forming a strategic alliance to collectively pursue growth opportunities in the global clay minerals markets.
The MOU contemplates a number of areas of collaboration, including a planned long-term supply agreement of Hectatone's hectorite clay from its Nevada resource to TOLSA for the manufacture of high purity hectorite-based products. Lab samples of hectorite clay have been evaluated by TOLSA, and a bulk sample is scheduled to be trialed in TOLSA's pilot facility in Spain this month.
TOLSA, founded over 50 years ago, is a privately owned company based in Madrid, Spain TOLSA is a leader in the specialized clay sector and controls more than 20 mining operations globally and produces high quality raw materials such as sepiolite, bentonite, and attapulgite. It has over 850 employees operating across four continents and has over 1 million tonnes of operating capacity, with significant geological and product research and development laboratories, and global distribution and logistical capacity.
Frank B. Wright Jr., President and CEO of Hectatone, commented "We are excited about working with TOLSA, a world leader in clay technologies with decades of development and operating experience, a distribution network in ninety countries and a strong team in research and development. We have known TOLSA for many years, and are delighted to be entering into a strategic alliance with a highly-respected world leader in the specialty clay sector." He added, "Hectatone is aggressively pursuing additional strategic partnerships in an effort to achieve growth and to broaden our products and markets."
Enrique Gomez Navarro, General Manager of TOLSA, commented, "We have a high regard for Hectatone's management team, for the state-of-the art manufacturing facility in Fernley, Nevada, and of course for the high quality and unique hectorite deposit. TOLSA Group range of industrial products is constantly growing and evolving from the success of collaborative agreements between TOLSA and leading companies all over the world such as Hectatone. TOLSA has one of the most extensive and distinguished lines in the specialty clay sector worldwide, and our product range will be made broader and deeper by this strategic alliance with Hectatone, and the addition of its very high quality hectorite product. We look forward to a long-term relationship that benefits the shareholders of both companies, and allows us to provide superior product offerings to our clients around the world."
About Lithium Americas
Lithium Americas is the parent company of Minera Exar S.A., which is developing the Cauchari-Olaroz Lithium Project, located in Jujuy, Argentina, in a joint venture with SQM. Lithium Americas also is the parent to Lithium Nevada Corp., which owns one of the largest lithium resources in North America, and Hectatone Inc., which produces specialty drilling additives and other organoclay products.
For more than 50 years, TOLSA has been an expert at obtaining the best from the earth, and today TOLSA is one of the leaders in the special clays sector. TOLSA's success is based on the complete integration of all key processes from extraction of the ore and its transformation in plants using internally controlled processes, to the delivery of our products to customers, always operating under the strictest policies and international certifications in the areas of the Environment, Quality, Food Safety and Social Responsibility.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company's periodic filings with Canadian securities regulators. When used in this document, the words such as "expect," "evaluate", "believe," "planned", "scheduled," "targeting" and similar expressions is forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information.
Statements in this release that constitute forward-looking statements or information include, but are not limited to: (i) timing of pilot studies of hectorite by TOLSA and expected results from that study; and (ii) the future economic potential of the strategic alliance between Hectatone and TOLSA.
All such forward-looking information and statements are based on certain assumptions and analyses made by Lithium Americas management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the Lithium America's most recently filed MD&A. The company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
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