- GOAT Industries (GOAT) has signed a letter of intent (LOI) to license a direct lithium extraction technology in Canada
- The LOI, with 1000288601 Ontario Inc., would see GOAT acquire all of the corporation’s issued and outstanding shares by way of a share exchange agreement
- GOAT is pursuing the transaction because direct lithium extraction is more cost-effective than competing technologies
- GOAT Industries, formerly Billy Goat Brands, is an investment company focused on opportunities to build increased energy, raw material and food independence
- GOAT Industries (GOAT) is unchanged, trading at $0.035 per share
GOAT Industries (GOAT) has signed an LOI to license a direct lithium extraction technology in Canada.
The LOI, with 1000288601 Ontario Inc. (Ontario Co), would see GOAT acquire all of the corporation’s issued and outstanding shares by way of a share exchange agreement.
Ontario Co is in the process of acquiring a Canadian license for a direct lithium extraction technology developed by private industry and Australian university researchers.
GOAT is pursuing the transaction because direct lithium extraction is more cost-effective than competing methods such as fractional crystallization, membrane filtering, MOFs, adsorption, reverse osmosis and ion exchange. The method also avoids evaporation while offering increased lithium recovery.
The parties have agreed to negotiate the terms of a definitive agreement within 60 days.
GOAT Industries, formerly Billy Goat Brands, is an investment company focused on opportunities to build increased energy, raw material and food independence.
GOAT Industries (GOAT) is unchanged, trading at $0.035 per share as of 10:23 am EST.