CYP:CC - Name and Ticker Change to Reflect Company's Lithium Focus

The use of %LithiumBatteries continues to surge, given the role it plays in personal electronics, toys and wireless devices. This company is moving ahead with a name and stock symbol change to reflect its purpose.

Last week, %CypressDevelopment () announced plans to change the company’s name to %CenturyLithium and in today’s press release the company announced that the TSX approved the changes, which will take effect on January 30, 2023.

Canadian-based Cypress Development Corp. is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada. The firm is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

Shares were trading up at $1.09 in morning trade.