Elektros Ignites Strategic Expansion Plan for Sierra Leone Lithium Operations to Support Global EV Demand

Rhea-AI Summary

Elektros (OTC PINK:ELEK) outlined strategic expansion for its Sierra Leone lithium project, citing a joint venture ground lease (Aug 15, 2024) and a local operating partner holding 25% equity to satisfy Sierra Leone licensing rules while the company retains 75% control.

The company holds an artisanal mining license (Sept 2025), has stockpiled 54 metric tons of hard-rock lithium ore, and aims to export regular shipments of two to three containers monthly to bi-monthly to U.S. refineries as capital and offtake agreements are secured.

Positive

• Company retains 75% controlling interest in Sierra Leone JV
• Obtained artisanal mining license in Sept 2025
• Stockpiled approximately 54 metric tons of hard-rock lithium ore
• Targeting regular shipments of 2–3 containers per month/bi-monthly

Negative

• Exports are contingent on securing adequate working capital for shipping
• No announced long-term offtake agreements with U.S. refineries yet
• Operational structure requires a local 25% partner due to Sierra Leone licensing rules

SUNNY ISLES BEACH, FL / ACCESS Newswire / January 29, 2026 / Elektros Inc. (OTC PINK:ELEK), a developer of lithium mining operations in Sierra Leone, announces strategic objectives for its Sierra Leone Lithium mining project.

Joint Venture Structure and Regulatory Compliance

On August 15, 2024, the Company executed a joint venture ground lease agreement for mineral rights within the Tinkoko Chiefdom of Bo District in southern Sierra Leone.

Under this arrangement, our local operating partner will oversee on-site operations, licensing administration, labor management, packaging, and shipment logistics.

To ensure full compliance with Sierra Leone's existing regulatory requirements-which stipulate that mining licenses and operational management be held exclusively by Sierra Leonean citizens-the partnership agreement establishes our operating partner as a 25% equity stakeholder, with the Company retaining a 75% controlling interest in the enterprise.

As of September 2025, the Company has obtained an artisanal mining license for its lithium project in Sierra Leone.

Operational Mission and Current Status

The joint venture is focused on the extraction, packaging, and export of raw lithium ore from Sierra Leone to the United States. The Company has currently stockpiled approximately 54 metric tons of hard-rock lithium ore at the mining site, prepared for export pending the securing of adequate capital for shipping costs.

The Company believes its growing stockpile and on-the-ground operational readiness support near-term export execution, while creating a foundation for scalable throughput and recurring shipment cadence as additional working capital is secured.

Elektro's objective is to establish itself as a reliable supplier to U.S.-based lithium refineries, supporting the conversion of raw materials into battery-grade lithium for the rapidly expanding electric vehicle and energy storage markets.

Near-Term Strategic Objectives:

• Establish and maintain continuous lithium extraction and export operations from Sierra Leone

• Execute regular shipments of two to three containers of raw lithium ore on a monthly to bi-monthly basis to the United States

• Secure long-term offtake agreements with U.S. lithium refineries

• Position the Company as a strategic participant within the global battery materials supply chain

• Attract strategic investment partners and scale operations to achieve leadership positioning in the lithium supply sector

Recent Demand for Lithium Projects

In 2025, the U.S. Department of Energy highlighted surging lithium demand by restructuring a multi-billion-dollar federal loan and taking 5% equity stakes in Lithium Americas and its Thacker Pass joint venture, a Nevada project slated to produce 40,000 metric tons of battery-grade lithium carbonate annually-enough for about 800,000 electric vehicles. At the same time, the European Union launched a €3 billion ResourceEU program to support 25 strategic critical-materials projects, including lithium initiatives to reduce reliance on foreign lithium, cobalt and graphite by 2030.

Against this backdrop of strong government investment and tightening supply, we feel Elektros' lithium business direction is well-positioned to serve growing demand from both public and private buyers.

About Elektros, Inc.

Elektros Inc. (OTC PINK:ELEK) business plan is to develop an artisanal mining operation based in Sierra Leone, Africa. This operation focuses on hard-rock lithium exploration, development, and the eventual exportation of the mined material to lithium refineries in the United States. www.elektros.energy

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties. For more details, please refer to the Company's SEC filings at www.sec.gov. Elektros, Inc. undertakes no obligation to update any forward-looking statements.

Contact:
Elektros, Inc.
IR and Media Inquiries
Email: ElektrosInc@gmail.com

Selected Industry Quotes on Lithium

"Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve." - Elon Musk, CEO of Tesla (April 8, 2022).

"New technology is absolutely essential for society to obtain enough lithium." - Dave Snydacker, CEO of Lilac Solutions, as reported by Reuters (April 7, 2022).

"You will need six times more lithium by 2050 than you use today." - U.S. Assistant Secretary of State, as reported by Reuters (June 14, 2022).

SOURCE: Elektros, Inc.

View the original press release on ACCESS Newswire

FAQ

What joint venture structure did Elektros (ELEK) establish for its Sierra Leone lithium project?

The JV sets a local operating partner with 25% equity and Elektros holding 75% control. According to the company, this structure complies with Sierra Leone rules that require licenses and operations to be held by Sierra Leonean citizens.

How much lithium ore has Elektros (ELEK) stockpiled at its Sierra Leone site?

Elektros has stockpiled about 54 metric tons of hard-rock lithium ore ready for export. According to the company, the ore is staged for shipment pending sufficient working capital to fund logistics and shipping costs.

What are Elektros' (ELEK) near-term shipment plans from Sierra Leone to the U.S.?

The company aims to ship 2–3 containers of raw lithium ore on a monthly to bi-monthly cadence. According to the company, achieving this cadence depends on securing capital and finalized shipping arrangements.

Has Elektros (ELEK) secured offtake agreements with U.S. lithium refineries?

Not yet; the company is actively seeking long-term offtake agreements with U.S. refineries. According to the company, securing these contracts is a near-term objective to support recurring exports and scale operations.