(TheNewswire)
Vancouver, Canada– July 9 th , 2023 – Arbor Metals Corp. (“ Arbor ” or the“ Company ”) (TSXV: ABR ) , ( FWB: 432) commends theCanadian government's dedication to solidifying Canada's place as aglobal leader in the electric vehicle (EV) supply chain. As reportedby Reuters on July 5th, significant government's efforts are beingmade 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-LGEnergy Solution (LGES) to resume construction of an electric-vehiclebattery plant in Windsor, Ontario, following increased subsidiesprovided by the federal government and the province of Ontario. Thissignificant development is set to create approximately 2,500 new jobsand establish an annual production capacity exceeding 45 gigawatthours by 2024.
Arbor extends its appreciation to the Canadiangovernment for meeting the demands of Stellantis-LG Energy Solution,and ensuring a level playing field by providing substantial supportcomparable to that available under the Inflation Reduction Act (IRA)in the United States. By doing so, Canada showcases its commitment tofostering a thriving EV industry and creating a supportive environmentfor companies investing in clean-tech initiatives.
Industry Minister Francois-Philippe Champagne andFinance Minister Chrystia Freeland expressed their confidence in theagreement, stating, "This agreement is good for workers and it isgood for Canada. It will create and secure thousands of jobs - both inthe auto sector and in related industries across Canada - and willfurther solidify Canada's place as a leader in the global electricvehicle supply chain."
The commitment of the Canadian government to becoming aglobal leader in the EV industry aligns seamlessly with Arbor'sstrategic objectives. Arbor is confident that its Jarnet Lithiumproject in Quebec has the potential to become a significantcontributor to Canada's booming EV industry. With the construction ofmultiple large scale battery plants in the country, it has becomeevident that the demand for lithium will experience substantialgrowth. As a result, Arbor has been actively reviewing additionalhighly prospective lithium projects, within Canada, aimed atcomplementing the potential of the Jarnet project, and supporting theCanadian EV industry.
"We are excited about the prospects of our JarnetLithium project in Quebec and its ability to contribute to Canada'sflourishing EV industry," commented Mark Ferguson, CEO of Arbor."The Canadian government's commitment to developing the EV supplychain aligns perfectly with our strategic objectives."
Arbor is dedicated to responsible resource developmentand is well-positioned to play a crucial role in supplying thenecessary lithium to support the electrification of transportation andthe transition to a sustainable future. The Company's focus onsustainable growth, innovation, and strategic partnerships willcontinue to drive its efforts in meeting the increasing demand forlithium in Canada's EV industry.
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by NationalInstrument 43-101 and is responsible for, andhas approved, the technical information contained in thisrelease.
About Arbor Metals Corp.
Arbor Metals Corp. is a mining exploration company focused on the developmentof high-value, geographically significant mineral projects around theworld. Arbor ispaving the way for advanced mineral exploration as it overseesworld-class mining projects. The company is confident that combiningquality projects with proven strategies and a dedicated team willyield exceptional outcomes. Arbor currently oversees threeoutstanding mineral projects.
The Jarnet lithiumproject , located in the James Bay region ofQuebec, comprises 47 map-designated claims, covering an area ofapproximately 3,759 hectares. The Jarnet project is contiguous to theCorvette-FCI property, where diamond drilling has confirmedsignificant lithium mineralization, and represents one of thehighest-profile lithium exploration projects in the sector.
For further information, contact Mark Ferguson, ChiefExecutive 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 norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the development of the JarnetLithium Project, the assessment of samples from that Project, andother factors or information. Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance, or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affecting such statements and information other than asrequired by applicable laws, rules and regulations.
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