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Green Technology Metals secures AU$8M investment for lithium expansion

EcoPro Innovation CEO Yoontae (Anthony) Kim, GT1 Managing Director Cameron Henry and Non-Executive Director Patrick Murphy at EcoPro Campus 3 in South Korea via GT1

PERTH — Green Technology Metals (GT1), a Canadian company focusing on lithium mining, signs a Framework Agreement and secured an AU$8 million investment from EcoPro Innovation, a South Korean producer of metals for electric vehicle (EV) batteries, as part of its expansion strategy.

The agreements between the two entities encompass both upstream activities, including mining and raw material extraction, and downstream processes such as processing and conversion of lithium materials.

Under the terms of the investment, EcoPro Innovation will acquire shares in GT1 at a price substantially higher than the company’s recent closing price and the 90-day volume-weighted average price. This investment will be carried out through a two-tranche placement.

In addition to the equity investment, the agreement provides EcoPro with exclusive rights for up to 12 months to negotiate asset-level investments related to GT1’s Seymour and Root mine developments. This is expected to lead to joint venture agreements that will facilitate project advancement.

The partnership also includes plans to negotiate a Pre-Feasibility Study (PFS) for a proposed Lithium Conversion Facility in Canada. This study will lay the groundwork for a joint venture focused on completing a Definitive Feasibility Study (DFS) and co-developing the facility.

GT1 has also submitted a joint funding application to Invest Ontario for government support concerning the proposed Lithium Conversion Facility. The application is currently under review.

GT1 MD, Cameron Henry, said, “EcoPro has been assessing the North American market for some time and it’s with great optimism that we enter this new phase of GT1’s development. Their global scale and expertise in manufacturing and supplying battery-grade lithium chemicals will greatly benefit GT1 as we advance our integrated strategy in North America.”