Latest news with #BenjaminHill
Globe and Mail
08-04-2025
- Business
- Globe and Mail
Rain City (RAIN): Update on Pilot Plant Commencement
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2025) - Rain City Resources Inc. (CSE: RAIN) (the "Company" or "Rain") announces that the ACCELi mineral extraction pilot plant (the "ACCELi Plant") has arrived at site and we anticipate starting operations this week. The ACCELi Plant will extract lithium, along with other critical minerals, from waste-water brine associated with natural gas production within the Marcellus Shale Formation. The ACCELi Plant is located at an industrial water transfer site in Springfield Pennsylvania and represents a pre-commercial trial of the ACCELi technology with a focus on extracting lithium along with other critical minerals. The ACCELi Plant will be operated by Avonlea Lithium Corp. ("ALC") in which Rain has the option to earn a 100% interest. It is envisaged that ALC will operate the pilot test for 21 days running approximately 20,000 litres of brine per day based on a 12-hour day and will provide Rain and ALC the opportunity to demonstrate its proprietary extraction technology targeting lithium and other critical and strategic minerals. Data will be collected and independently tested and verified throughout the course of the trial. The length of the pilot test may be extended depending on results, volumes, the critical minerals successfully extracted and the usual consents. Rain is conscious of the US Department of Energy's Critical Materials List which includes lithium, barite and magnesium and notes the increasing importance over the short and medium term (2020-2035) of lithium and magnesium, which the ACCELi Plant will produce as part of our proprietary process. (source: US Department of Energy, Critical Minerals & Materials Program, Medium-Term (2025-2035 Criticality Matrix) To view an enhanced version of this graphic, please visit: Benjamin Hill, CEO commented, "A recent article in The New York Times written by Brad Plumer highlighted the ever-increasing growth of, and reliance on, the battery storage industry in the US. It is apparent that a US supply of lithium will become increasingly important as President Trump's tariffs become a new reality. Sixty-nine percent of America's lithium-ion batteries were imported from China in 2024. These grid batteries will now be subject to a 64.5% tax, rising to 82% in 2026. We hope to position ourselves at the forefront of domestic lithium extraction and processing using our proprietary ACCELi direct lithium extraction technology. Our ACCELi Plant pilot test aligns perfectly with our intention to begin commercial production of lithium in North America by 2027 and we look forward to establishing ACCELi as the default brine-hosted mineral extraction technology in commercial operation." About the Marcellus Shale Formation Pennsylvania's Marcellus Shale is attracting global attention due to the presence of high concentrations of lithium and other strategic and critical minerals in wastewater from natural gas production. This geological formation is composed of sedimentary rock found in the Appalachian Basin of eastern North America at a depth ranging from about 1,000 feet to 8,000 feet. According to a study from the Department of Energy's National Energy Technology Laboratory, this formation could represent enough lithium-rich wastewater to meet up to 40-percent of the nation's current domestic lithium consumption. About Us Rain is an integrated critical mineral technology and project development company committed to solving the environmental, social, and economic issues associated with extracting lithium and other critical minerals from brine. FOR FURTHER INFORMATION CONTACT: Benjamin Hill Chief Executive Officer David Shaw Chairperson RAIN CITY RESOURCES INC. Website: Email: info@ Telephone: 778-819-3792 Cautionary Statement Regarding Forward-Looking Information This news release may include certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Rain disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that proposed operations will be successful or that the anticipated financial, economic or strategic benefits will be realized. Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Yahoo
11-03-2025
- Business
- Yahoo
Rain City (RAIN) Completes Closing of First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2025) - Rain City Resources Inc. (CSE: RAIN) (the "Company" or "Rain") is pleased to announce that, further to its news release of February 24, 2025 wherein the Company announced plans to raise up to $500,000 by way of issuance of 6,666,667 common shares, it has closed the first tranche of its non-brokered private placement and has raised gross proceeds of $305,700 through the issuance of 4,076,000 common shares at a price of $0.075 per share. All shares issued are subject to a four-month hold period expiring July 12, 2025. Proceeds from this financing will be used to mobilize and fund the operational expenses at the pilot plant located in Pennsylvania (the "Pilot"), as originally announced on February 12, 2025, as well as general working capital purposes. Additionally, proceeds will be allocated to third-party analysis of results and reporting to be commissioned by the Company stemming from the Pilot along with advancing Rain's ongoing project discussions in Chile and Argentina. The Company paid cash of $21,399 or 7% as a finder's fee with respect to proceeds raised. No insiders participated in this first tranche of the private placement. Benjamin Hill, Rain's CEO, stated, "The closing of the first tranche of this financing is another exciting step in the advancement of our groundbreaking Direct Lithium Extract technology, ACCELi. We anticipate that this test program, processing brine from the Marcellus Shale Formation at the Kendra II Springville brine transfer site in Pennsylvania (the "Pilot"), will build on the results of the highly successful bench tests previously conducted by Avonlea Lithium Corporation in Calgary, AB. The Pilot represents a pre-commercial trial of the ACCELi lithium extraction technology." The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act. About Us Rain City is an integrated lithium technology and project development company committed to solving the environmental, social, and economic issues associated with extracting lithium from brine. FOR FURTHER INFORMATION CONTACT: Benjamin Hill Chief Executive Officer David Shaw Chairperson RAIN CITY RESOURCES INC. Website: Email: info@ Telephone: 778-819-3792 Cautionary Statement Regarding Forward-Looking Information This news release may include certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that proposed operations will be successful or that the anticipated financial, economic or strategic benefits will be realized. Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release. To view the source version of this press release, please visit
