Alchemist mining completes acquisition of Aqueous Resources LLC, a leader in industrial brine pre-treatment solutions and direct lithium extraction.
Alchemist Mining Incorporated (the “Company” or “Alchemist”) (CSE: AMS) is pleased to announce that, further to its news releases dated June 13, 2023 and July 27, 2023, it has closed (the “Closing”) its securities exchange agreement dated June 13, 2023 (the “Securities Exchange Agreement”) with Aqueous Resources LLC (“Aqueous”), a private arm’s length limited liability company based in Denver, Colorado, USA, pursuant to which the Company acquired all of the outstanding membership interests of Aqueous (collectively, the “Membership Interests”) from the holders of the Membership Interests (the “Members”), in exchange for common shares (each, a “Share”) in the capital of the Company (the “Transaction”). Upon Closing, Aqueous became a wholly-owned subsidiary of the Company.
Aqueous Limited Liability Company
Aqueous, a company existing under the laws of the State of Colorado, is the sole owner of patent pending technology for an electro-pressure membrane process and method for recovery and concentration of lithium chloride from aqueous sources (the “Technology“), and has built a complete pilot system for pre-treating, concentrating, and processing lithium enriched continental brines using their proprietary process in their laboratory facility in Denver.
On May 18, 2023, Aqueous won a USD$250,000 grant from the Advanced Industries Early-Stage Capital and Retention Grant Program, a grant made through the Colorado Office of Economic Development and International Trade, designed to help Colorado-based advanced industries technology businesses develop and commercialize advanced technologies.
Aqueous also received a USD$1,300,000 commitment from the U.S. Department of Energy on July 10, 2023. For details on the grant from the U.S. Department of Energy, see the Company’s press release of July 12, 2023.
Alchemist Completes Acquisition of Aqueous Resources LLC, a Leader in Industrial Brine Pre-Treatment Solutions and Direct Lithium Extraction, VANCOUVER, BC, August 8, 2023
