- Gold Lion Resources Inc. has signed and closed a share purchase agreement with Sustainable Li-Ion Research Inc.
- The company has acquired all of the issued and outstanding securities of SLIR.
- After in-depth research and assessment activities, Gold Lion will be introducing a new generation battery recycling technology
- The proprietary technology and process will “significantly enhance the recovery, extraction and overall recycling performance”
- Gold Lion Resources Inc. (GL) was up 37.50 per cent, closing at C$0.055 at 4 pm EDT end-of-day trading
Gold Lion Resources Inc. (GL) has signed and closed a share purchase agreement with Sustainable Li-Ion Research Inc. (SLIR) and the company’s shareholders.
The deal is in respect of a previously announced transaction whereby Gold Lion has acquired all of the issued and outstanding securities of SLIR.
SLIR’s principal asset and undertaking is its interest, through a wholly-owned subsidiary, in a license agreement and a sponsored research agreement in the field of the recycling of lithium-ion batteries.
After in-depth research and assessment activities, GL will be introducing a new generation battery recycling technology. This strategic acquisition of Sustainable Li-Ion Research Inc. will allow GL to leverage a unique technology licensing opportunity from a leading Singapore University.
This proprietary technology and process will significantly enhance the recovery, extraction and overall recycling performance while maintaining environmental and cost-effective metrics.
With industrial approaches to recycling battery waste generating harmful pollutants, hydrometallurgy (using water as a solvent for extraction) is increasingly being explored as a possible alternative.
This process involves first shredding and crushing used batteries to form a crushed material called black mass. Researchers then extract valuable metals from black mass by dissolving it in a mix of strong acids or weak acids plus other chemicals like hydrogen peroxide under heat, before letting the metals precipitate.
While relatively more eco-friendly than conventional methods, the use of such strong chemicals on an industrial scale could generate a substantial amount of secondary pollutants, posing significant safety and health risks.
Guy Bourgeois CEO of Gold Lion, commented,
“With growing global demand of electric vehicles and portable electronics, next-generation li-ion battery recycling technology is essential. Fortunately, Gold Lion’s proprietary process could eliminate waste by diverting end-of-life li-ion batteries from landfills; reduce mined raw materials by providing recycled materials for the li-ion battery supply chain; improve manufacturing costs by recycling cathode scrap for use in future lithium−ion cathode manufacturing and eliminate carbon emissions with its closed-loop hydrometallurgical process.”
Gold Lion Resources is a mineral exploration company actively involved in the exploration of its precious metal-focused portfolio including Black Lake, Cuteye, and Fairview Properties located in British Columbia, Saskatchewan, and Idaho.
Gold Lion Resources Inc. (GL) was up 37.50 per cent, closing at C$0.055 at 4 pm EDT end-of-day trading.