AlenCiken

$LODE soars after taking stake in lithium-ion battery recycler

AMEX:LODE   Comstock Mining, Inc
Comstock Secures Majority Interest in Lithium-Ion Battery Recycling Company; Facility Plans 10,000 Tons Per Year of 99.9% Pure Lithium-ion Cathodes for Clean Energy Transition.

Comstock today announced transactions securing the rights to a majority equity stake in LINICO Corporation (“LiNiCo”), a lithium-ion battery (“LIB”) recycling company who recently acquired a state-of-the-art battery metal recycling facility from Aqua Metals , Inc. (“Aqua Metals”) located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada.

The Company will pay $4,500,000 in cash and 3,000,000 shares of its restricted common stock, representing up to $10,750,000 in consideration for up to a 64% ownership stake in LiNiCo. Aqua Metals is investing $2,000,000 for a 10% stake in LiNiCo.

LiNiCo will use the proceeds to increase its direct strategic investment in Green Li-ion Pte , Ltd. (“Green Li-ion”), purchase Green Li-ion’s patented process equipment, with exclusive rights for the U.S. market, enabling the production of 99.9% pure lithium-ion cathodes.

Extraordinary Growth

Lithium-ion battery production capacity has increased tenfold in the past decade.

https://finance.yahoo.com/news/comstock-...

Comments

good analysis. let's hope it goes back to $8
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AlenCiken mohannad123
@mohannad123, we will see
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