Mr. Brian Stecyk reports
STINA RESOURCES ANNOUNCES FIRST STEP IN DUE DILIGENCE IN
EVALUATION OF ACQUISITION OF PURE VANADIUM CORP.
Stina Resources Ltd.'s due diligence and evaluation of the acquisition of Pure
Vanadium Corp. are under way.
Following yesterday's announcement (July 17, 2017) of the signing of a letter of intent regarding the potential acquisition of Pure Vanadium, a key technology company involved
in the development of vanadium-based electrolytes for grid-scale batteries, Stina directors will
meet with Pure Vanadium president and chief executive officer Dusty McKinnon and his research experts to discuss the
possible synergies with the two companies.
The meeting will occur in Calgary, Alta., on Friday, July 21, at Pure Vanadium's laboratory
facilities. Discussions will involve the status of current research and the time frame of
commercialization of research activities.
"We welcome this opportunity to meet with the owners of Pure Vanadium Corp. to learn how their
research capabilities and activities can benefit Stina especially as they will relate to the
development of our Bisoni McKay and Bisoni Rio Prospect vanadium deposits in Nevada," said
Stina president and CEO Brian Stecyk.
"As was said in the previous news release, we are pursuing this acquisition because grid-scale
vanadium redox flow battery installations are increasing globally, and access to high-quality
vanadium for vanadium electrolyte is a key driver of this technology."
The key factors leading to the decision of consider acquisition of Pure Vanadium are:
- Pure Vanadium holds a portfolio of licences for the production and sales of
vanadium electrolytes. Pure Vanadium's licences were granted by the Battelle Memorial Institute, operator of Pacific Northwest National Laboratory (PNNL), a U.S.
Department of Energy national laboratory.
- The acquisition of Pure Vanadium supports the long-term objective of the company to become the
first North American vertically integrated producer of vanadium electrolytes for the
energy storage industry.
- Bisoni McKay is a single-product vanadium deposit.
Pure Vanadium's research and development activities involve the production of vanadium electrolyte (VE)
formulations for the rapidly expanding vanadium redox flow battery (VRB) technologies that are
employed in grid-scale electrical storage.
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