Ultra Lithium Signs MOU for Trial Lithium Carbonate Production

Ultra Lithium Inc. (TSXV:ULI) announced that it has signed a memorandum of understanding (MOU) with China’s Cadavisa Technology Corp. (CTC) to cooperate on lithium extraction and production using CTC’s proprietary technology.
As quoted in the press release:

Under the terms of Phase 1 of the MOU ULI will provide assay results from its brine and spodumene lithium projects for CTC to evaluate. ULI will also provide CTC with dried brine and spodumene pegmatite raw materials to conduct trial production. All trial production results and data shall be shared by and belong to the two parties on a confidential basis. All products from trial production will belong to ULI.
Subject to the successful completion of Phase 1 ULI and CTC, will consider entering into a definitive cooperation agreement which may include, but is not limited to, participation by CTC in equity financing of ULI; investments in joint projects, building a processing plant in Argentina and/or Canada and granting CTC priority for potential supplies of lithium concentrates and/or raw materials.

Dr. Weiguo Lang, CEO of Ultra Lithium, commented:

We are very pleased to be entering into this MOU. It is a step forward toward Ultra Lithium’s goal to transform into a vertically integrated lithium company, exploring high quality lithium projects in the upstream, producing lithium concentrates and developing strong relationships downstream with lithium end users.

Click here to read the full Ultra Lithium Inc. (TSXV:ULI) press release.