TSX : RBI
OTCQX : CLQMD
February 28, 2014 08:30 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 28, 2014) - RB Energy Inc.
(the "Company" or "RBI" or "RB Energy") (TSX:RBI)(OTCQX:CLQMD) confirms
that it is not aware of any unreleased material information regarding
the Company and provides an update on its lithium operations in Quebec.
On
February 11, 2014 RBI commenced a continuous commissioning run of the
hydro-metallurgical circuit at its wholly owned Quebec Lithium
operation. This commissioning run is scheduled to continue until
mid-March and will provide battery grade lithium carbonate samples to
our customers for quality assessment. In addition, a bulk sample from
this run will be shipped to Tewoo-ERDC, our principal off-take partner,
for commercial testing.
In
mid-March the hydro-metallurgical circuit will be temporarily suspended
for commissioning maintenance and production assessment. Operations and
lithium production will recommence in April in both the flotation and
hydro-metallurgical circuits, culminating in the commissioning of an
optical ore sorter by the beginning of the third quarter. Quebec Lithium
is on track to ramp up to and achieve name plate production levels
(20,000 tonnes of lithium carbonate per annum) by year end.
Commenting
upon the recent production success at Quebec Lithium and recent
developments in the lithium market, Richard Clark, President and CEO of
RB Energy, stated, "The management and operations team of RB Energy are
very pleased with the progress at the Quebec Lithium operation. Our
current production run will provide the necessary lithium carbonate
samples to supply commercial orders from our customers going forward. We
are meeting our initial targets and we are on track to achieve
name-plate throughput of 20,000 tonnes per annum of battery grade
lithium carbonate by year end. Quebec Lithium is the only hard rock
lithium operation in North America and is poised to become a material
player in the exciting future of the lithium battery market."
RBI is a Canadian company formed pursuant to the arrangement involving
Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas
Blancas, an iodine producing mine in northern Chile, and the Quebec
Lithium Project near Val d'Or, the geographical heart of the Quebec
mining industry. The Aguas Blancas mine is currently in production. The
Quebec Lithium Project has completed construction and is in the
commissioning phase. For more information regarding RBI, please refer to
its public filings available at www.sedar.com.
Forward-Looking Statements
Certain
information contained in this news release, including any information
relating to the state of the lithium and iodine industries; statements
regarding our ability and the timing to achieve and sustain commercial
production and name-plate production levels of iodine; our ability to
secure commercial orders from our customers; and our ability to become a
material player in the lithium market are "forward-looking statements".
These forward-looking statements relate to future events or future
performance and reflect the Company's expectations regarding the future
growth, results of operations, business prospects and opportunities of
RBI. These forward-looking statements also reflect the Company's current
internal projections, expectations or beliefs and are based on
information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as
"may", "will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable
terminology. The estimates and assumptions of RBI underlying the
forward-looking statements in this news release may prove to be
incorrect. Assumptions upon which such forward looking information
include, among other things, successful and timely commissioning,
ramp-up and production at the Québec Lithium Project; the lack of any
further significant capital expenditures during the commissioning stage
or to bring the hydrometallurgical process plant into production; the
continuing support and cooperation of RBI's off-take partners; as well
as financial predictions premised on such assumptions. Although the
Company believes that the forward-looking information contained in this
news release is based on reasonable assumptions, readers cannot be
assured that actual results will be consistent with such statements.
Accordingly, readers are cautioned against placing undue reliance on
forward-looking information. RBI expressly disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, events or otherwise, except in
accordance with applicable securities laws.
Contact Information
RB Energy Inc.
Sophia Shane
(604) 689-7842
sophias@namdo.com
