February 11, 2020 Vancouver, British Columbia; – LiCo Energy Metals Inc. (“the Company “or” LiCo”) TSXV: LIC; OTCQB: WCTXF is pleased to announce the appointment of Mr. Robert Setter as a Director of the Company.
Mr. Setter is an experienced Director of public mining exploration companies including one currently operating near the location of LiCo’s development properties in the emerging Cobalt Camp in Northern Ontario. Since December 2015, Mr. Setter has been on the board of Canada Cobalt Works and can see the potential for future opportunities whereby LiCo could contract with Canada Cobalt to access their advanced proprietary hydrometallurgical technological processes and their lab located in the town of Cobalt.
Mr. Setter sits on the board of other TSXV listed companies and is a graduate of the University of British Columbia. He holds a degree in Economics and brings over two decades of management, marketing and strategic development experience.
“We are very pleased to have such an accomplished person join our team.” commented Richard Wilson, President & CEO of the Company. “Mr. Setters’ industry and board experience and connections related to EV Battery metals development with mineral exploration will provide great benefits for LiCo as we advance our cobalt and lithium exploration projects. Mr. Setters’ addition to our team continues our plan to grow the Company’s depth in experience and look forward to Robert’s contributions as we ramp up the development of our properties.”
Concurrent with the appointment of Mr. Setter, LiCo announces the resignation of Mr. Tim Fernback as a Director. Mr. Fernback has been a very valuable member of the LiCo team, and we wish Mr. Fernback well with his future endeavours.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company that trades under the symbol LIC on the TSX Venture Exchange. The Company’s focus is on exploration for high value metals required for the manufacturing of lithium ion batteries.
Ontario Cobalt Properties:
The Company has entered into an Option Agreement with Surge Exploration Inc. (“Surge”) whereby Surge can earn an undivided 60% interest in the Glencore Bucke and the Teledyne Cobalt Properties, located in Cobalt Ontario, subject to certain cash, share and exploration payments to LiCo. Upon Surge having exercised the Option, Surge will have earned an undivided 60% interest in the Cobalt Properties, and the parties will enter into a Commercially Reasonable and Definitive Joint Venture Agreement.
LiCo has received an independent third-party fairness opinion from an experienced and qualified P.Geo. relating to the Cobalt Properties. The fairness opinion confirms and concludes the terms of the Option Agreement between the Company and Surge is fair to the shareholders of the Company.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 100% interest, subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert, Washoe County, Nevada.
On Behalf of the Board of Directors
Rick Wilson, President &CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.