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Pure Energy Minerals Ltd. reports developments tied to its transition from a Nevada lithium resource company toward the evaluation of new strategic prospects. The company previously centered on Clayton Valley lithium brine claims in Esmeralda County, Nevada, and completed an earn-in transaction that transferred owned claims while retaining a 3% net smelter return royalty on commodities from those claims.
Recurring updates include board and management changes, annual meeting voting results, equity incentive grants, and corporate strategy following the option-out of the Clayton Valley Project.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has granted 800,000 stock options to directors, officers, and consultants. The options have an exercise price of C$0.30 per share, vest over one year, and expire in five years. This grant is subject to TSX Exchange approval.
Additionally, the company has appointed Ms. Ann Fehr as Corporate Secretary, replacing Ms. Yulia McCutcheon. Pure Energy expressed gratitude for Ms. McCutcheon's contributions during her tenure as Corporate Secretary over the past year.
Pure Energy Minerals has announced significant progress in its Clayton Valley lithium brine project in Nevada. The company has partnered with SLB to develop the project sustainably. Key milestones include receiving final permits, completing plant construction, and commencing technical trials. The demonstration plant employs advanced technologies, including direct lithium extraction, to enhance sustainable lithium production. The facility is located five kilometers southeast of Silver Peak, Nevada, on Bureau of Land Management lands. CEO Joseph Mullin emphasized the importance of these steps toward large-scale sustainable lithium production.
Pure Energy Minerals (TSXV: PE; OTCQB: PEMIF) announced the results of its Annual General Meeting (AGM) held on June 5, 2024. Shareholders voted on key resolutions, including the re-appointment of Baker Tilly WM LLP as auditors and the election of six directors. Newly elected directors, Marceau Schlumberger and Daniel Barnosky, bring extensive expertise in energy and battery metals.
A total of 6,424,974 shares, representing 19% of the company's outstanding shares, were voted. The stock option plan was re-approved, and the number of directors was set at six. Outgoing directors Nathaniel Hartwig and Michael Dake were thanked for their service.
New directors bring significant experience: Barnosky has over 25 years in global energy and decarbonization, while Schlumberger focuses on oil, gas, and U.S. exploration. This marks a new stage of growth for Pure Energy Minerals.
Pure Energy Minerals (TSXV: PE, OTCQB: PEMIF) will hold its Annual General Meeting in Vancouver, BC, on June 5, 2024, at 10:00 a.m. PT. Shareholders have received voting materials and are encouraged to vote online by June 3, 2024.
In partnership with Schlumberger Technology Corp., Pure Energy developed a Direct Lithium Extraction (DLE) pilot plant in 2023 at its Clayton Valley project. The plant, utilizing brine concentrations of 180-220 ppm lithium, has shown positive results.
Pure Energy also secured an additional 5-year water right for brine extraction and testing. The DLE technology promises faster lithium recovery, efficient clean water use, and reduced environmental impact.
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