Bearing Announces Payment of Third Installment of MSB Equity Call
Vancouver, British Columbia - TheNewswire - July 31st, 2020 - Bearing Lithium Corp. ("Bearing" or the "Company") (TSXV:BRZ) (OTC:BLILF) is pleased to announce payment of its third 2020 equity call, in the amount of $157,750 USD to maintain its 18.02% ownership in the joint-venture company, Minera Salar Blanco ("MSB").
"Despite COVID19-related delays, there continues to be strong interest in Maricunga given its quality and advanced development. As the MSB team continues to work on advancing the strategic initiatives, it is important that Bearing continues to support the project through equity cash calls. Bearing's management is encouraged by the underlying macroeconomics supporting long-term double-digit demand for lithium-based battery technologies for the global electric vehicle industry," commented Gil Playford, Chairman of Bearing Lithium.
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is an 18% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$50 million has been invested in the Maricunga Project to date and all expenditures through to the delivery of a Definitive Feasibility Study have been fully-funded by the earn-in joint-venture partner.
ON BEHALF OF THE BOARD
Signed "Gil Playford"
Gil Playford, Chairman
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This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved.. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.