BoxScore Brands, Inc. Executive Team Focus Continues on Lisbon Lithium Project
Rhea-AI Summary
BoxScore Brands (OTC Pink Current: BOXS) has issued a corporate update highlighting significant developments in its Lisbon Valley lithium project. CEO Sebastian Lux emphasized the surging demand for lithium and the company’s advancements in geological and technical aspects of the project since acquiring 102 mining claims in November 2021. The Company is pursuing further land acquisitions and is in active discussions regarding Direct Lithium Extraction technology to ensure efficient and environmentally friendly operations. BoxScore's 2022 Second Quarter report was released on August 17.
Positive
- High demand for lithium presents a favorable market opportunity.
- Advancements in geological and technical aspects of the Lisbon Valley project.
- Acquisition of 102 Federal Mining Claims enhances resource potential.
- Plans for additional land acquisitions and joint ventures indicate growth strategy.
- Commitment to Direct Lithium Extraction technology aligns with cost-effectiveness and ESG standards.
Negative
- None.
News Market Reaction – BOXS
On the day this news was published, BOXS declined 9.48%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
GREENWICH, Conn., Aug. 19, 2022 (GLOBE NEWSWIRE) -- BoxScore Brands, Inc. (OTC Pink Current: BOXS) (“BoxScore”, the “Company”) a U.S.-based renewable energy company focused on the extraction, refining, manufacturing, and distribution of precious technical minerals, today announces a corporate update for its shareholders.
“Lithium demand is at an all-time high,” said Sebastian Lux, Chief Executive Officer, BoxScore Brands Inc. “We could not be more excited about the advances in our research as it relates to the Lisbon Valley project. Our work on the geological, technical, and permitting sides continues as we look to further affirm our existing technical reports.”
On November 5, 2021, BoxScore acquired the rights to 102 Federal Mining Claims located in the Lisbon Valley of Utah. The acquisition was driven by historical mineral data from seven existing wells with brine aquifer access. Independent third-party technical reports indicated that further investment and development in the claims were warranted.
In the second quarter of 2022, led by BoxScore Chief Operating Officer and 30-year industry veteran, Mr. Patrick Avery, the Company activated consulting teams to pursue additional land acquisitions, and to begin the State and Federal permitting process for project development work of the Lisbon Lithium Project. In addition, the Company initiated construction strategies based on reports from RESPEC, the Company's engineering partner, for geological modeling and drill entry design, and related planning.
BoxScore is currently in talks with extraction providers and remains committed to moving forward with its strategy of employing Direct Lithium Extraction “DLE” technology. Company executives believe selective mineral extraction is clearly the most cost-effective and ESG-friendly approach currently available.
The Company will also look to expand its holdings with the acquisition of additional mineral claims and joint venture opportunities in the Americas.
BoxScore Brands, Inc. released their 2022 Second Quarter report on August 17thand it can be viewed by visiting the Company’s Investor Relations page or within the Filings section of the Securities & Exchange Commissions’ home page located at www.sec.gov.
Company and industry news and updates will also be posted on BoxScore’s Twitter page.
ABOUT BOXSCORE BRANDS, INC.
BoxScore Brands Inc., based in Greenwich, CT, is a U.S.-based renewable energy company focused on the extraction, refining, manufacturing, and distribution of precious technical minerals. The company is committed to utilizing technologically advanced solutions to meet the highest ESG government standards. For more information, visit: www.boxscore.com
Company Contact:
BoxScore Brands, Inc.
Investor Relations
Tel: (800) 998-7962
Email: ir@boxscore.com
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies, and prospects -- both business and financial. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, acquisitions, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to BoxScore Brands, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
