Alset Energy Announces Name Change to Better Reflect Its Goals
VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 4, 2017) - Alset Energy Corp. (TSX VENTURE:ION) (“Alset” or “the Company”) is pleased to announce that it will be changing its name to Alset Minerals Corp., while keeping its current stock symbol. The name change reflects the company’s broader focus and commitment of developing its Mexican salar projects, which can potentially serve a wide spectrum of agriculture, chemicals and industrial minerals markets, in addition to its lithium focus.
While a large portion of Mexico’s GDP comes from farming, most of their potassium is imported resulting in the high price of fertilizer. As a result, most small farmers have limited access to these products. This issue is such a significant problem that the Mexican government instigated what they call a “National Crusade Against Hunger” in January 2013. Fertilizer components such as potassium and boron are found in Alset’s Mexican salars and as such have the potential to compliment the efforts of Mexican farmers and their domestic needs.
“Considering that our Mexican salars are characterized by high-grade lithium, along with high-grade potassium and other fertilizer components, we felt it is important to better reflect our corporate goals with a new name. The new name allows us to emphasize our wide-ranging project development objectives of maximizing the value of all potential mineral compounds present in our Mexican salars. Mexico is among the world’s leading agri-food producers; however, the country remains a net-food product importer. Self-sufficiency in crop nutrients and agri-minerals plays one of the critical, strategic components in the country’s agriculture and chemicals sectors,” said Allan Barry Laboucan, President and CEO of Alset Minerals. “We feel very fortunate to have the potential to play a role in those markets while also having exceptional exposure to the opportunities in the lithium space. As we gear up for an exciting time with our exploration and drilling campaign, we look forward to maximizing the value of our salars’ multi-mineral composition, while utilizing our project location, existing infrastructure and community support.”
The company also announces that it has granted, subject to regulatory approval, 250,000 stock options at an exercise price of $0.15 for 5 years to a director of the company.
About Alset Energy (ION.V)
Alset Energy is a TSX-V listed junior exploration company focused on exploring and development of a group of high-grade lithium and potassium projects in the Central Mexican Plateau. The Company is actively exploring in Mexico and Canada.
On behalf of the Board of Directors of Alset Energy Corp.,
Allan Barry Laboucan, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
Allan Barry Laboucan
President and CEO