Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTC-Nasdaq Intl. Designation: STLHF), a lithium-focused exploration company, this morning announced that it has executed a joint venture term sheet with LANXESS Corporation, a global specialty chemical company. Per the terms of a binding memorandum of understanding, the two companies are exploring a contemplated joint venture related to commercial opportunities stemming from the production, marketing and sale of battery grade lithium from brine extracted from the Smackover Formation located in southern Arkansas. Under the proposed terms of the joint venture, LANXESS would contribute lithium extraction rights and grant existing infrastructure access, and Standard Lithium would contribute existing rights and leases held in the Smackover Formation, as well as the property’s pilot plant and its proprietary extraction processes. LANXESS is prepared to provide funding to the joint venture to allow for commercial development of the future commercial project upon proof of concept, and Standard Lithium is expected to participate on similar terms for project funding. The joint venture’s final terms are subject to any funding arrangements and completion of due diligence, technical proof of concept, studies to confirm the project’s technical feasibility and economic viability and the parties’ negotiation of definitive agreements.
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About Standard Lithium Ltd.
The company’s flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations utilizing the Company’s proprietary selective extraction technology. The Company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. Standard Lithium is listed on the TSX Venture under the trading symbol “SLL”; quoted on the OTCQX under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”. For more information, visit the company’s website at www.StandardLithium.com
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