LibertyStream and Wellspring Hydro Announce US $700,000 Grant to Fund Lithium Refining Unit backed by State of North Dakota; Proceeds Drawn From US$7.5 million pre-Approved State Funded Grant and Loan Facility
' We are deeply grateful to the State of North Dakota for this continued support, which not only reflects confidence in our DLE technology but also underscores our shared goal of strengthening the domestic supply chain for critical minerals, ' commented Alex Wylie, President & CEO of LibertyStream. 'Customers have made it clear they require bulk lithium carbonate samples to negotiate future offtake agreements. The Refining Unit is expected to provide our future customers with the lithium carbonate from the field they require.'
US $7.5 Million North Dakota State Funded Facility
Wellspring was previously awarded US$7.5 million in grant and loan funding from the North Dakota Industrial Commission through the Clean Sustainable Energy Authority Program and the Renewable Energy Program (collectively, the 'State Funding'). LibertyStream and Wellspring have utilized the State Funding to advance DLE initiatives within the State of North Dakota. Following the US$700,000 drawdown, approximately US$4.2 million remains available for future deployment. The State Funding is intended to promote the adoption of renewable energy technologies, support businesses operating in North Dakota, and leverage the capabilities of the local workforce.
Initially, the Refining Unit will be deployed at LibertyStream's facility in Texas, with plans to relocate it to North Dakota upon completion of commercial DLE facility development in the Williston Basin. LibertyStream and Wellspring anticipate drawing the remaining US$4.2 million in State Funding to further support the build-out of these commercial DLE operations in North Dakota.
Lithium Carbonate Refining Unit
The Refining Unit will be capable of producing up to 10 tpa of lithium carbonate tailored to the technical specifications of future customers for either industrial grade or battery grade lithium carbonate. In order to have the ability to sign offtake agreements, future customers need bulk sample from the field. Management anticipates that the Refining Unit will consistently provide its customers with the confidence to rely on the grade and quality of lithium carbonate for future offtake agreements.
Corporate Secretary Appointment
LibertyStream is pleased to announce the appointment of Eamon Hurley as Corporate Secretary for the Company. Mr. Hurley is a Partner at Cassels Brock & Blackwell LLP ('Cassels') and was former Canadian General Counsel to Unocal Corporation. Cassels acts as Corporate Counsel to the Company. The Company is granting Mr. Hurley 250,000 options under its omnibus equity incentive plan. The Options vest over a six-month period and are exercisable at $0.23 per Share for four years from the date of grant, expiring on August 11, 2029.
About LibertyStream Infrastructure Partners
LibertyStream is a lithium development and technology company aiming to be one of North America's first commercial producers of lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management's hydrocarbon experience to deploy our proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary DLE technology and process, LibertyStream's innovative approach to development is focused on generating the highest lithium recoveries with lowest costs, positioning us for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company's continued progress on its website: https://LibertyStream.com/.
Forward Looking Statements
This news release includes certain 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'will', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, management's expectations relating to the processing capacity of its DLE unit, information with respect to the completion and timing of the purchase of the Refining Unit and expectations of production therefrom, the anticipated benefits to the Company's customers relating to the deployment of the Refining Unit. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including the risk of delay in completing the purchase of the Refining Unit, the risk that management's production estimates relating to the Refining Unit turn out to be incorrect, and generally, those known risk factors outlined in the Company's annual information form for the year ended June 30, 2024, the Management's Discussion and Analysis for the six months ended December 31, 2024, and the (final) short form base shelf prospectus dated July 20, 2023. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
26 minutes ago
- Bloomberg
Cargill's Revenue Falls to 4-Year Low Amid Declining Crop Prices
Cargill Inc. 's revenue declined to the lowest in four years as the largest private company in the US continues to restructure in the face of declining crop prices and a shrinking American cattle herd. The Minneapolis-based company posted revenue of $154 billion in the year ended May 31, according to an annual report posted on its website. That's down from about $160 billion a year earlier and the lowest since 2021, when revenue was reported at $134 billion.
Forbes
26 minutes ago
- Forbes
Can The UK Finally Stop Late Payers? And How Do SMEs Help Themselves?
They are the scourge of small businesses worldwide. Customers who pay their bills late cause entrepreneurs huge stress as cash flow issues mount up, opportunities to expand get missed and relationships sour. In the worst cases, late payment problems have led businesses to go under – and small businesses, often at the mercy of larger customers, are particularly vulnerable. It's something of an international epidemic. In the US, recent research from Creditsafe found more than eight in 10 businesses were struggling with at least 30% of their monthly invoiced sales overdue. In the European Union, almost half of all small businesses suffer significant problems with late payments according to the EU Payment Observatory. Late payments cost the UK economy £11 billion a year ($14.9 billion), says London Economics. The UK Government is so worried about this problem that its just announced a series of new measures aimed at helping small businesses to fight back. Ministers describe their proposals as 'the toughest laws on late payments in the G7'. The idea is to give stronger powers to the UK's Small Business Commissioner, set up in 2017 to help small firms resolve disputes with large organisations, but often criticised as lacking teeth. Government reforms will see the Commissioner given new powers to issue fines, with ministers promising these could total millions of pounds for large businesses that persistently pay their suppliers late. The Commissioner will also be asked to carry out spot checks on large businesses and to enforce a 30-day invoice verification period to speed up resolutions to disputes. Another key element of the reforms will see the UK's maximum payment terms – currently 60 days – reduced to 45 days. Meanwhile, the audit committees of large listed companies in the UK will be handed a new legal duty to scrutinise the payment practices of their businesses, with the aim of ensuring fewer companies transgress in the first place. 'I want the UK to be the best place in the world to start a business, grow and succeed,' says small business minister Gareth Thomas. 'Too many small firms go under each year because they are not paid on time – that is completely unacceptable.' Will the crackdown work? The proposals have had a positive reaction. Alan Vallance, chief executive of the ICAEW, the accounting trade body, thinks they could make a difference, particularly if more small businesses are prepared to actively engage with the Small Business Commissioners. 'Small businesses are the backbone of the UK economy, making up 99% of all businesses, employing two-fifths of the private sector workforce and generating more than half of the UK's business turnover,' says Vallance. 'It is vital they can operate in an environment that helps them grow and thrive.' Tina McKenzie, policy chair of the Federation of Small Businesses, adds: 'This is bold and ambitious – it's an encouraging commitment from the government to take the side of small businesses.' Others are more sceptical, however. Critics of the proposals point out that small businesses are often reluctant to make a fuss about late payments for fear of missing out on future business from key suppliers. Often, they feel they have no choice but to accept extended payment terms that hit them just as hard as customers on standard terms who pay late. Previous efforts to hold large companies to account publicly have also come up short, with a new code of best practice introduced earlier this year to replace a previous standard that was widely seen as under-performing. For this reason, accountants continue to encourage all small businesses to remain disciplined about they manage invoicing, payments and debt collection. Here are their 10 top tips for heading off a late payments crisis before it cause real damage to the business: 1. Get to know your customers Running credit checks on new customers could help your business identify likely late- (or non-) payers. That will save valuable time and money in the future. It's now possible to run quick and inexpensive checks online. 2. Be crystal clear about payment terms Make sure your payment terms are stated clearly on every invoice you send out and keep them consistent. It's also worth outlining the terms verbally to new customers. 3. Avoid old-fashioned forms of payment Encourage customers to pay using cash, electronic transfer or direct debit. 4. Invest in credit control teams If your business can afford to hire credit control staff, they may soon pay for themselves. But train staff in the right way; they need to be firm but polite. 5. Talk to customers When your business sends out an unusually large invoice, it may be worthwhile calling the customer to make sure it has been received and there is no query. 6. Start chasing right away Don't delay in chasing a late payment: get in touch as soon it falls due. The longer you waits to contacts the customer, the further down the queue your invoice is likely to drop. 7. Claim interest and compensation In many countries, small businesses paid late have a statutory right to claim interest on late payments at set interest rates. They may also be able to claim compensation for debt recovery costs. Check your rights and warning customers about these costs, as this may encourage payment. 8. Be prepared to be flexible On large outstanding amounts, you may be prepared to offer flexible payment terms. This might mean the customer pays in regular installments, say, or splits the bill into two manageable chunks. The key is to maximise your chances of payment. 9. Don't let the problem escalate When a customer fails to pay for goods or services, stop supplying it immediately, rather than adding to its debt through further sales. 10. Use a debt management specialist As a last resort, small businesses have the option of employing a debt recovery agency. Agencies will often work on a 'no recovery, no fee' basis, though this can prove expensive.
Yahoo
an hour ago
- Yahoo
Stocks Rally on Increased Odds for Fed Rate Cut after CPI Report
The S&P 500 Index ($SPX) (SPY) today is up +0.72%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.64%. September E-mini S&P futures (ESU25) are up +0.63%, and September E-mini Nasdaq futures (NQU25) are up +0.58%. Stocks gained ground after today's US CPI report was largely in line with market expectations, thus strengthening expectations for a Fed rate cut at the September meeting. On a year-on-year basis, the July headline CPI of +2.7% y/y was slightly weaker than expected, but the core CPI of +3.1% y/y was slightly stronger than expected. The chances for a Fed rate cut at its Sep 16-17 meeting improved to 95% after today's CPI report from 88% on Monday. More News from Barchart This High-Yield (7%) Dividend Stock Is Down Significantly in 2025. Should You Buy the Dip? Dear CoreWeave Stock Fans, Mark Your Calendars for August 14 Tesla Is Axing Its Dojo Supercomputer Plans. What Does That Mean for TSLA Stock Here? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! The 2-year T-note yield fell -3.8 bp to 3.731% on the CPI news. However, the 10-year T-note rose by +1.0 bp after a new attack by President Trump on Fed Chair Powell. Mr. Trump said in a Truth Social post today that he is considering allowing a lawsuit against Mr. Powell related to construction work at Fed buildings. The markets are concerned about the inflation risks involved with the attempt by the Trump administration to push Mr. Powell out of the Fed as a means to push interest rates lower. The July US CPI report of +0.2% m/m was in line with market expectations. The July CPI year-on-year figure of +2.7% y/y was unchanged from June and was slightly weaker than expectations for a +0.1 point increase to +2.8%. The July US core CPI report of +0.3% m/m was in line with expectations. The July year-on-year core CPI figure of +3.1% y/y was up from June's +2.9% and was slightly stronger than market expectations of +3.0%. July's headline CPI of +2.7% y/y and core CPI of +3.1% y/y were up from the post-Covid 4.25-year lows of +2.3% and +2.8%, respectively, posted earlier this year. President Trump signed an executive order overnight extending the US-China tariff truce by 90 days through November 10 to allow more time for negotiators to reach a final deal. That was in line with reporting yesterday by CNBC. The executive order postponed today's original deadline. That followed previous news that Nvidia and AMD agreed to pay the US government 15% of their revenues on sales of certain lower-powered AI chips sold to China in exchange for export licenses to allow those sales. However, Bloomberg reported today that China's government urged Chinese companies to avoid using Nvidia's H20 processors, particularly for government-related purposes. The markets are awaiting this Friday's Trump-Putin summit in Alaska for any progress in ending the Russian-Ukrainian war. President Trump on Monday downplayed expectations of a breakthrough, saying the summit is a "feel-out meeting" to end the war in Ukraine. Also, recent comments from Ukrainian President Zelenskiy dampened hopes for a quick end to the war when he rejected any talk of Ukraine ceding territory to Russia. In recent tariff news, President Trump early Tuesday extended the tariff truce with China, which was to expire on Tuesday, for another 90 days. Last Wednesday, President Trump announced that he will impose a 100% tariff on semiconductor imports. Still, companies would be eligible for exemptions if they demonstrate a commitment to building their products in the US. However, the US will levy a separate tax on imports of electronic products that employ semiconductors. Also, President Trump announced last Wednesday that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. Last Tuesday, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. The market's focus this week is on corporate earnings results and any new trade or tariff news. On Thursday, weekly initial unemployment claims are expected to fall by -1,000 to 225,000. Also on Thursday, the July final-demand PPI is expected to increase to +2.5% y/y from +2.3% y/y in June, and the July PPI ex-food and energy is expected to rise to +2.9% y/y from +2.6% y/y in June. On Friday, July US retail sales are expected to climb +0.5% m/m and retail sales ex-autos are expected to rise +0.3% m/m. Also on Friday, July manufacturing production is expected to remain unchanged m/m. Finally, the University of Michigan's Aug US consumer sentiment index is expected to climb by +0.3 to 62.0. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 95% at the September 16-17 FOMC meeting and 62% at the following meeting on October 28-29. Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With over 82% of S&P 500 firms having reported Q2 earnings, about 82% of companies exceeded profit estimates. Overseas stock markets today are higher. The Euro Stoxx 50 is up +0.06%. China's Shanghai Composite rallied to a 10-month high and closed up +0.50%. Japan's Nikkei Stock 225 today closed up +2.15% and posted a new record high. Interest Rates September 10-year T-notes (ZNU25) today are down -4.5 ticks, and the 10-year T-note yield is up +1.0 bp at 4.295%. T-notes received an initial boost from the CPI report but then fell back after President Trump launched another broadside against Fed Chair Powell regarding construction costs on Fed buildings. T-note prices have support from today's -2.0 bp decline in the 10-year inflation expectations rate to 2.380%. European government bond yields today are trading higher. The 10-year German bund yield is up +4.9 bp at 2.745%. The 10-year UK gilt yield is up +5.4 bp at 4.619%. Swaps are discounting the chances at 5% for a -25 bp rate cut by the ECB at the September 11 policy meeting. US Stock Movers The Magnificent Seven are all trading higher today except for Tesla (TSLA) and Nvidia (NVDA). Nvidia is trading slightly lower after a report that the Chinese government is discouraging Chinese companies from buying Nvidia AI chips even if the US government allows the sale. Meta (META) is the best performer of the Seven with a gain of more than +2%. Chip stocks are leading the Nasdaq 100 index higher, with gains of 5% or more in Microchip Technology (MCHP), ON Semiconductors (ON), NXP Semiconductors (NXPI), and Texas Instruments (TXN). The Dow Jones Industrial Average is showing outsized gains today due to gains of more than +3% in Goldman Sachs (GS) and UnitedHealth Group (UNH). Hanesbrands (HBI) is up more than +20% after the Financial Times reported that a deal is nearing for Gildan Activewear to acquire Hanesbrands for as much as $5 billion in enterprise value. Paramount Skydance (PSKY) is up +7% after Guggenheim started coverage on the company with a buy rating and a $13 price target due to a positive outlook for the merged entities of Paramount Global and Skydance Media. Starbucks (SBUX) is up about +2% on an upgrade to outperform from neutral from Baird. Cardinal Health (CAH) is down more than -8% after its fiscal Q4 operating income was below market expectations. Getty Images (GETY) is down more than -8% on disappointment after releasing Q2 earnings and guidance. Earnings Reports (8/12/2025) Cardinal Health Inc (CAH), Cava Group Inc (CAVA), Everus Construction Group Inc (ECG), H&R Block Inc (HRB), Lumentum Holdings Inc (LITE), Madison Square Garden Sports C (MSGS), On Holding AG (ONON), Smithfield Foods Inc (SFD). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
