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Vancouver, Canada – July 9th, 2023 – Arbor Metals Corp. (“Arbor” or the “Company”) (TSXV: ABR), (FWB: 432) commends the Canadian government's dedication to solidifying Canada's place as a global leader in the electric vehicle (EV) supply chain. As reported by Reuters on July 5th, significant government's efforts are being made to support the development of the EV industry in Canada, positioning the nation for sustainable growth and success.
The article highlights the decision by Stellantis-LG Energy Solution (LGES) to resume construction of an electric-vehicle battery plant in Windsor, Ontario, following increased subsidies provided by the federal government and the province of Ontario. This significant development is set to create approximately 2,500 new jobs and establish an annual production capacity exceeding 45 gigawatt hours by 2024.
Arbor extends its appreciation to the Canadian government for meeting the demands of Stellantis-LG Energy Solution, and ensuring a level playing field by providing substantial support comparable to that available under the Inflation Reduction Act (IRA) in the United States. By doing so, Canada showcases its commitment to fostering a thriving EV industry and creating a supportive environment for companies investing in clean-tech initiatives.
Industry Minister Francois-Philippe Champagne and Finance Minister Chrystia Freeland expressed their confidence in the agreement, stating, "This agreement is good for workers and it is good for Canada. It will create and secure thousands of jobs - both in the auto sector and in related industries across Canada - and will further solidify Canada's place as a leader in the global electric vehicle supply chain."
The commitment of the Canadian government to becoming a global leader in the EV industry aligns seamlessly with Arbor's strategic objectives. Arbor is confident that its Jarnet Lithium project in Quebec has the potential to become a significant contributor to Canada's booming EV industry. With the construction of multiple large scale battery plants in the country, it has become evident that the demand for lithium will experience substantial growth. As a result, Arbor has been actively reviewing additional highly prospective lithium projects, within Canada, aimed at complementing the potential of the Jarnet project, and supporting the Canadian EV industry.
"We are excited about the prospects of our Jarnet Lithium project in Quebec and its ability to contribute to Canada's flourishing EV industry," commented Mark Ferguson, CEO of Arbor. "The Canadian government's commitment to developing the EV supply chain aligns perfectly with our strategic objectives."
Arbor is dedicated to responsible resource development and is well-positioned to play a crucial role in supplying the necessary lithium to support the electrification of transportation and the transition to a sustainable future. The Company's focus on sustainable growth, innovation, and strategic partnerships will continue to drive its efforts in meeting the increasing demand for lithium in Canada's EV industry.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About Arbor Metals Corp.
Arbor Metals Corp. is a mining exploration company focused on the development of high-value, geographically significant mineral projects around the world. Arbor is paving the way for advanced mineral exploration as it oversees world-class mining projects. The company is confident that combining quality projects with proven strategies and a dedicated team will yield exceptional outcomes. Arbor currently oversees three outstanding mineral projects.
The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization, and represents one of the highest-profile lithium exploration projects in the sector.
For further information, contact Mark Ferguson, Chief Executive Officer, at info@arbormetals.com, or visit the Company’s website at www.arbormetalscorp.com.
On behalf of the Board,
Arbor Metals Corp.
Mark Ferguson, Chief Executive Officer
Source: Reuters, July 5, 2023
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Jarnet Lithium Project, the assessment of samples from that Project, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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