10:27:58 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Stina Resources Ltd
Symbol SQA
Shares Issued 130,583,502
Close 2018-05-11 C$ 0.63
Market Cap C$ 82,267,606
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Stina to change name to CellCube Energy Storage

2018-05-14 06:20 ET - News Release

Mr. Brian Stecyk reports

STINA RESOURCES LTD. TO CHANGE NAME TO CELLCUBE ENERGY STORAGE SYSTEMS INC.

Stina Resources Ltd. has changed its name to CellCube Energy Storage Systems Inc. The common shares of the company will commence trading on the Canadian Securities Exchange under the new symbol "CUBE" effective on or about Thursday, May 17, 2018.

Stina's name change reflects the company's new strategic focus on full vertical integration in the energy sector. From vanadium exploration and production through to the manufacturing and sale of vanadium redox flow batteries, this marks a new chapter in the company's growth and broader energy driven commitment including its expertise in driving the innovation needed to shape the future of the energy storage industry.

There are currently over 100 CellCube batteries in use globally. CellCube vanadium redox flow batteries (VFB) are used for a variety of purposes including grid storage; microgrids; off-grid storage for solar and wind power; diesel power replacement; backup power systems; farming applications; electrical vehicle charging stations; industrial plants and office building applications; and emergency power sources.

The patented CellCube battery, the most commonly installed VFB in the world, developed by Gildemeister Energy Storage GmbH was recently acquired by the company. The patented CellCube battery among all other assets acquired from Gildemeister will now operate under the company's Austrian subsidiary Enerox GmbH.

Storage markets are estimated to reach 40 gigawatts by 2030 according to Bloomberg New Energy Finance's research, and are estimated to spend over $100-billion in the ramp-up phase over the same time period following the same rapid rise of solar installations occurring from 2000 to 2015.

"Two thousand eighteen marks an important point in the evolution of the Stina organization. This new name change will allow us to better emphasize our target driven sales and continue our healthy growth," stated Brian Stecyk, president and chief executive officer.

About Stina Resources Ltd.

Stina is a vanadium resource company exploring to become a fully integrated producer of vanadium and vanadium electrolytes for the battery storage industry. The company's vanadium mineral resources are located on the Bisoni McKay and Bisoni Rio properties in northern Nevada. Stina's recent acquisition of the assets of Gildemeister, now operating under its subsidiary Enerox GmbH, coupled with the coming name change to CellCube Energy Storage Systems Inc., positions the company to capitalize on the demand for vanadium redox flow batteries worldwide to help meet the world's rapidly growing energy and storage needs.

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