Vancouver, BC, May 4, 2022 – Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:TLOOF) (FSE:B2I0) (“Infinity Stone” the “Company”) applauds the recent moves by the US government, including the US Department of Energy’s (“DOE”) announcement on May 3, 2022 of a new US$3 billion program going toward battery manufacturing and supply chains to support the transition to electric vehicles.
The funds will be allocated by the Biden administration from the US$1 trillion infrastructure bill signed last year. Among the initiatives will be funds dedicated to the processing of minerals for use in large-capacity batteries. Grants will be made available to produce key battery metals such as lithium, cobalt, and nickel, stated Dave Howell, principal deputy director in the Energy Department’s Office of Manufacturing and Energy Supply Chains.
This allocation is further to the DOE’s conditional commitment of a US$107 million loan to Syrah Resource Limited’s (SYR:ASX) (“Syrah”) graphite production facility in Louisiana announced on April 18, 2022. Syrah’s Vidalia active anode material (“AAM”) facility in Louisiana processes graphite from Syrah’s Balama Project in Mozambique into anodes, the positively charged electrodes of the batteries used in electric vehicles (“EVs”). Syrah’s facility is expected to produce enough anodes to build 2.3 million EVs by 2040. Syrah also announced in December 2021 an offtake agreement with Tesla, Inc. (TSLA:NASDAQ) (“Tesla”) to begin supplying Tesla with AAM in 2024.
“We are excited to see the Biden administration continue to support the domestic production and development of the critical battery metals used in the supply chains for EVs and other elements of the green revolution”, said Zayn Kalyan, CEO of Infinity Stone. “The recent announcements affirm that our moves into the battery metals sector are timely, as we work to develop our recently acquired assets to meet the growing demand for these critical materials. Furthermore, the direct support of the DOE to other operators is promising to the market as a whole”, continued Mr. Kalyan.
Infinity Stone’s Rockstone Graphite Project (“Rockstone Project”), located 50 km west of the seaway port at the city of Thunder Bay, Ontario, Canada, is strategically positioned to be a supplier of graphite to the North American market. The Company has exciting plans for the Rockstone Project and is looking at ways to advance the project more quickly than other companies’ graphite projects located in more remote regions of Canada and the world.
The Company also is actively involved in the development and exploration of lithium claims in Ontario and Quebec. 72 of the Company’s lithium claims are located on ground adjacent to the Frontier Lithium Inc. (FL:TSXV), PAK Lithium project in the Red Lake Mining District, Ontario. The Company’s claims are known as the PAK South Project and PAK Southeast Project and the Company also holds one claim adjacent to Patriot Battery Metals Inc.’s (PMET:CSE) Corvette Lithium discovery in the James Bay Region of Quebec.
About Infinity Stone Ventures
Infinity Stone Ventures Corp.’s mission is to deliver solutions across industries. The Company’s primary business units are Contakt World and HealthCheck (Stratum Health Technologies LLC) and the Company is actively looking to acquire portfolio assets in other sectors such as SaaS solutions and energy metals.
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Infinity Stone Ventures Corp.
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The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: the DOE’s program to support battery manufacturing and supply chains to support the transition to electric vehicles and the allocation of funds therefor; grants being available to produce key battery metals; DEO’s loan commitment to Syrah; Syrah’s anticipated production of anodes and partnership with Tesla; the Company’s work to develop its recently acquired assets to meet the growing demand for battery metals; and the support of DOE being promising to the market as a whole;. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company’s public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.