American Battery Materials Issues Shareholder Letter and Provides Corporate Update
Highlights ABM’s Focus on Developing its Mineral-Rich Assets in the U.S. to Become a Leader in Domestic Lithium Supply
GREENWICH, Conn., Jan. 30, 2023 (GLOBE NEWSWIRE) -- American Battery Materials, Inc. (OTC Pink: BOXS) (“ABM”, the “Company”), an environmentally responsible minerals exploration and development company focused on direct lithium extraction (“DLE”) and other critical minerals for the global energy transition, issued a letter to shareholders from its Chief Executive Officer, Sebastian Lux. Mr. Lux was appointed CEO in August of 2022.
Dear Fellow Shareholders,
2022 was a transformational year for ABM, building the foundation for success in 2023 and beyond, as we advance our evolving position within the North American lithium market. Throughout the year we continued to focus on acquiring proven assets, infrastructure, permitting and leading our DLE technology partner to position the Company to quickly ramp up operations in the lithium-rich areas of Lisbon Valley and Paradox Basin in Utah.
In late 2021, we acquired the rights to 120 Federal Mining Claims located in the Lisbon Valley. The acquisition was driven by historical mineral data from seven existing wells with brine aquifer access. The independent third-party technical report indicated that further investment and development in the claims were warranted. Throughout 2022, we executed on our strategy to prove the technical report’s findings. We also retained RESPEC Company LLC as our geotech, engineering, and resource management partner to assist in the exploration of the Lisbon Valley brine extraction project. Today, we hold 120 mineral rights on 2,040 acres with seven historic wells and existing infrastructure in Southern Utah.
Our development of a U.S.-based critical minerals exploration company focused on DLE could not come at a better time. Global demand for lithium has continued to skyrocket, with lithium a critical component for batteries fueling the clean energy economy – nearly all promising new battery advances use lithium as part of their makeup.
Today, the U.S. is almost entirely dependent on foreign sources of lithium, despite an abundance of rich domestic sources. While the U.S. is ranked 2nd in global battery demand, it is ranked only 6th in producing the raw materials necessary to provide supply. For this reason, the U.S. government has mandated that it extract itself from foreign supply dependency for lithium. Lithium is now classified as a critical mineral in the U.S. by the Department of Energy (the “DOE”), which is leading the American Battery Material Initiative to bolster the domestic battery materials supply chain. Under the initiative, over $7.0 Billion will be allocated for the exploration, extraction, and processing of lithium, creating a substantial opportunity for our company.
ABM is perfectly positioned to meet the required U.S. lithium production with proven mineral-rich assets located in the Lisbon Valley, within the Paradox Basin, Utah. With over 300 climate-friendly days and fully developed infrastructure, the Paradox Basin is one of the most attractive places in the country for successful and efficient extraction processes.
Traditional lithium mining has faced major hurdles in the U.S., with important considerations of environmental damage, regulatory issues, controversial mining practices and territorial litigation. We will deploy DLE in selective brine extraction projects to provide a cost-effective, efficient, and environmentally friendly method of production. With DLE, we can shorten our time-to-market over other-resource heavy mining projects driving a quicker return on investment.
We took several important steps in 2022, including a corporate name change to American Battery Materials to reflect our emphasis on U.S. battery material production and the domestic lithium carbonate market. Our new name, and a new trading/ticker symbol, should be reflected shortly by OTC Markets. I encourage you to also check out our new corporate website: www.ambtm.com.
Alongside my appointment as Chief Executive Officer, we strengthened our management team with the addition of finance and operational experts, equipping us to navigate our next phase of growth. We also rounded out our Board of Directors with two strategic additions of well-respected senior executives. Andrew P. Suckling, a lithium industry executive with over 25 years of experience in the commodities industry, is Chairman of the Board of Cadence Minerals PLC, a Director of Macarthur Minerals, Ltd, and the founding principal and portfolio manager for Verulam, a discretionary commodity fund. Justin Vorwerk is a tenured investment banker that has served as Managing Director at CSFB/DLJ, Goldman Sachs and Bankers Trust, among others. Both have been invaluable as we continue to scale our operations.
Finally, the close of 2022 saw us complete the following actions, each designed to position us for growth and success in 2023:
Completed the conversion of 99 convertible promissory notes, removing over $11.7 Million of debt from our books.
Completed the exercise of 4 common stock warrants in exchange for over $100,000 of much needed working capital.
Engaged investor relations specialist MZ Group to lead a comprehensive financial communications program which will focus on expanding our capital market relationships, and raising market awareness within the investment community as we execute our operational strategy.
Formalized our Advisory Board, with new appointees to be announced shortly.
As we look ahead to 2023 and beyond, we are focused on permitting, site drilling, and development of our Lisbon Valley assets and believe we are positioned far ahead of new and developing lithium projects. We have a firm grasp of the state of the industry, and the mandates for lithium use throughout myriad markets and across the globe. We continue to work with RESPEC to focus on services, drill program design, full procurement drilling and well completion to various brine and disposal projects. We have a significant advantage of being one of the first-to-market with a U.S. brine that is available for a DLE brine extraction pilot program. This advantage will enable us to select cutting-edge technology for brine extraction, and ultimately allows us to shorten our time to market. We continue to evaluate opportunities for the acquisition, exploration and extraction of significant U.S. lithium resources in historically-proven territories.
We are proud of our accomplishments in 2022 and the progress made toward our unique goal to support the country’s urgent critical minerals needs for the ongoing energy transition and electrification of the automotive market, on both domestic and global scales. Thank you to all of our shareholders, partners, and staff for your support on our journey. I look forward to another strong year at ABM as we work to drive long-term shareholder value.
Chief Executive Officer
Virtual Roadshow Webinar
Management will host a virtual roadshow on Wednesday, February 1, 2023 at 11:30 a.m. Eastern Time.
Sebastian Lux, Chief Executive Officer of ABM will present an overview of the Company’s recent operational progress, growth initiatives, and strategic vision. The webinar will be accompanied by a presentation and followed by a question-and-answer session; to submit a question, please email ABM@mzgroup.us.
To access the webinar, please use the following information:
Date: Wednesday, February 1, 2023
Time: 11:30 a.m. Eastern time (8:30 a.m. Pacific time)
International Dial-in: 1-201-493-6779
Conference Code: 13735874
Webcast: ABM Virtual Roadshow
A telephone replay will be available approximately three hours after the call and will run through Wednesday, March 1, 2023, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13735874. The replay can also be viewed through the webinar webcast link above.
ABOUT AMERICAN BATTERY MATERIALS, INC.
American Battery Materials, Inc., formerly BoxScore Brands, Inc. and still trading under the symbol BOXS pending processing by FINRA (OTC Pink: BOXS), is a US-based environmentally responsible critical minerals exploration and development company focused on direct lithium extraction (DLE) as well as other minerals for refining, processing, and distribution to support the country’s urgent critical minerals need to bolster long-term energy transition and the electrification of the US domestic and global economy.
For more information about American Battery Materials, Inc. and to receive Company updates via email, please visit the Contact section of our web site, www.americanbatterymaterials.com.
Follow us on Twitter, Facebook and LinkedIn.
Nevermind. Put in a call to support and they finally fixed it. Thanks anyway
Anybody else having issues with the trades page loading? It's stuck in loading mode for me
There's no reason to be impatient with DBMM. This will likely play through the entire year 2023 and beyond
Drugdoctor is correct. RBIZ had spinoff shares that were NBLD, which recently had the name/symbol change to REII
The only thing crystal clear is that naked shorts are nervous
Sweet bullish move for a Friday
“Over the past two years, our strategic network of copackers has allowed us to produce and deliver when many of our competitors could not,” said Ricky Wright, President and CEO of The Alkaline Water Company. “Now, with the addition of AZ Custom Water and their production capabilities, we are further strengthening our position in the Southwest. This year, AZ Custom Water will be an important producer of our entire portfolio of water products, including being our west coast supplier for our growing line of Alkaline88® FreshCap™ functional beverages. As we grow, we are finding the need for multiple bottlers in strategic markets. AZ Custom Water began to manufacture for us in 2021 and have already proven to be great partners. As they further increase production, we expect them to be a significant co-packing partner for years to come.”
“It's great to work with together with Alkaline88 as they continue to grow their national footprint,” said Ms. Kathryn Gavin, President and CEO of AZ Custom Bottle Water, LLC. “The production capacity AZ Custom Water provides will help their brand continue to deliver and meet fulfillment when other brands cannot. We’ll work together to stay ahead of demand as Alkaline88 continues to carve out more market share in the Southwest and other markets.”
Alkaline88® Adds Two Products in Sprouts Farmers Market
Alkaline88® Will Add the 750ml Aluminum and the 1-Liter Six Pack to Sprouts Stores in 23 States
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage® company, announced today that Alkaline88® will expand its SKU offering in Sprouts Farmers Markets this February with the addition of its 750ml aluminum bottle and its 1-liter six pack to approximately 380 store locations across 23 states. The two new products join other Alkaline88 products already on Sprouts shelves. These include the 1 Gallon, which is consistently one of the best-selling enhanced water products in the natural supermarket chain, and the 500ml, which is available in a 24-pack case and will soon appear in checkstand coolers as a single-serve item.
“As the new year resets begin to take off, Alkaline88 drinkers will have two more great products to choose from at Sprouts Farmers Markets,” said Frank Lazaran, President and CEO of The Alkaline Water Company. “Alkaline88 appeals to many Sprouts shoppers, with its deliciously smooth taste and buffer-free ingredient deck containing only purified water and pink Himalayan rock salt. Our 1-Gallon consistently performs well there, as a best-selling enhanced water product. The addition of the fully-recyclable 750ml aluminum and the 1-liter six pack gives Alkaline88 the opportunity to win even more Sprouts shoppers to the brand.
“The 750ml aluminum is in a product in a class by itself when it comes to packaging. We believe that it will be a perfect fit for Sprouts shoppers who want to enjoy their water in a sleek, eco-friendly, bottle that really stands out from the rest. And while we’re the category leader in the gallon format, the 1-liter six pack makes Alkaline88 available in one of the category’s most popular on-the-go sizes.
“It’s a great start to 2023 to be adding two new Alkaline88 products to Sprouts, one of the largest specialty retailers of fresh, natural, and organic food in the country. This is just the first of several significant retail expansions we will announce in the coming months.”
About The Alkaline Water Company:
The Alkaline Water Company is the Clean Beverage® company making a difference in the water you drink and the world we share.
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88®, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88® delivers perfect 8.8 pH alkaline drinking water with trace minerals and electrolytes and boasts our trademarked label “Clean Beverage.” In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for Alkaline88®.
To purchase The Alkaline Water Company’s products online, visit us at www.alkaline88.com.
To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.
How long has PAUL been on top of the ask? I haven't been watching L2 that closely but it's the first I've noticed
Great article! Thanks for sharing that
PAUL is still at .0075 on my L2, and as you mentioned BLAS has been back for a few sessions. Was really hoping to never see BLAS again but at least he hasn't been aggressive. Must have a little left, my guess is a few million or less. We really need news to move past these levels, like SQF certification. Hopefully that's coming soon
Why Hydrogen is the answer to rapid EV charging - Part One
IGEN Networks Corp and Prolog Execute LOI for Merger
Lake Elsinore, CA – January 17, 2023 – IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive, asset management, and supply-chain industries, today announces the successful completion of a Letter-of-Intent (LOI) for the purchase of 51% of Prolog privately held shares on January 13, 2023. The purchase in the form of IGEN common shares will be approximately $900K to $1.1M USD paid through multiple tranches based on achieving minimum revenue thresholds over 12 months from the closing date of the definitive agreement. Transaction share price and close date will be established in the definitive agreement. Revenue thresholds for Prolog will range from $1.8M to $3.5M USD over 12 months for international opportunities and will be fully recognized by IGEN.
Neil G. Chan, CEO of IGEN stated, “This merger creates a unique combination of knowledge and technologies for the supply-chain industry globally. Along with our consultancy practice, IGEN will offer comprehensive end-to-end logistic solutions that include facilities and warehouse management, GPS telemetry and inventory tracking, fleet asset management and maintenance through-out the supply-chain of commercial and government organizations.”
Juan Ignacio Avila, CEO of Prolog stated, “We are excited with the opportunities of this merger with IGEN. Prolog has proven its leadership in providing comprehensive logistics, supply-chain, maintenance, and management solutions to some of the largest and most complex organizations in Mexico, Spain, and Central America. Through IGEN channels in the US, we can now apply our 25 years of technology expertise and experiences to the US markets along with participating in the growth of our businesses together.”
The Letter-of-Intent (LOI) is a non-binding agreement and will establish the basic terms for the definitive agreement between IGEN Networks Corp and Prolog. This transaction will be arm’s length as additional terms may be added, and existing terms may be changed or deleted. Definitive terms will include a PCAOB qualified financial audit.
About IGEN Networks Corporation
IGEN Networks Corporation creates software services for the consumer automotive and commercial asset management industries enabling their customers to better manage their assets and protect their drivers. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTC Markets under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit: www.igennetworks.net
Prolog is a technology development and logistics consulting company with over 25 years of experience in the development of supply-chain, logistics, telematics, and asset management solutions. Prolog operates in Mexico, Spain, and Central America with more than 1200 clients, 80 distribution centers, and 250,000 vehicles utilizing its asset management platforms. For more information, please visit: www.prolog.com.mx
Yes it's moving easy on light volume. Imagine what some news could do :)
Renee, the only thing obvious is that naked shorts are nervous with good reason
That appears crystal clear :)
Added more 24s. BLAS is probably gone for good, imo this is all retail now and a great time to add
Friday 13th is typically not bullish for OTC so there may be some bargains to be had. We also have a 3-day weekend for MLK, so any news coming is likely coming next week or just after
This is the loading zone glta :)
Lucid Produced 3,493 Vehicles in Q4 2022 and 7,180 in the Full Year 2022, Exceeding Annual Guidance
NEWARK, Calif., Jan. 12, 2023 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced production and delivery totals for the quarter ended December 31, 2022. The company produced 3,493 vehicles during Q4 at its manufacturing facility in Arizona and delivered 1,932 vehicles during the same period.*
On a full-year basis, the company produced 7,180 vehicles, exceeding provided guidance range of 6,000-7,000 vehicles, and delivered 4,369 vehicles.
Lucid will host a conference call to discuss its fourth quarter 2022 financial results on Wednesday, February 22, 2023, at 2:30 pm PT / 5:30 pm ET. Prior to the conference call, the company will issue an earnings press release with a link to the live webcast on its investor relations website, ir.lucidmotors.com.
To enhance engagement with the company's shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to allow retail and institutional shareholders to submit and upvote questions, a selection of which will be answered by Lucid management during the earnings call.
Starting on February 8, 2023, at 2:30 pm PT / 5:30 pm ET, all shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-group-2022-q4/. This Q&A platform will remain open until 24 hours before the start of the earnings call. Shareholders can email email@example.com for any support inquiries.
Earnings Call Details:
Date: Wednesday, February 22, 2023
Time: 2:30 pm PT / 5:30 pm ET
Webcast: https://ir.lucidmotors.com (live and replay)
About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. The highly anticipated Lucid Air Grand Touring features 819 horsepower. Deliveries of Lucid Air, which is produced at Lucid's factory in Casa Grande, Arizona, are currently underway to U.S., Canadian, and European customers.
Investor Relations Contact