Telescope Inks Research Agreement with Standard Lithium
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2022) - Telescope Innovations Corp. (CSE: TELI) ("Telescope" or the "Company"), a chemical technology company, announces that it has signed a Master Service Agreement ("MSA") with Standard Lithium Ltd. ("SLI"). For the first project under this MSA, Telescope will receive funding for one year to evaluate the utilization and sequestration of CO2 within the lithium brine extraction and reinjection processes developed by SLI. This project bolsters Telescope's "Industries" division, which leverages unique lab automation and analytical capabilities to address process and manufacturing challenges in the chemical industry.
Jason Hein, CEO of Telescope, has previously executed successful projects with SLI and is the inventor of its SiFT lithium carbonate crystallization technology. "Telescope is ideally positioned to understand the process chemistry and technology required to integrate CO2 utilization and sequestration within Standard Lithium's operations," he commented. "We are working towards the decarbonization of the lithium supply chain and continuing to strategically deploy Telescope's tools and expertise across the chemical industry."
About Standard Lithium
SLI is an innovative technology and lithium development company. SLI's flagship project is located in southern Arkansas, where it is engaged in testing and proving the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The president of SLI, Dr. Andy Robinson, and the CEO, Robert Mintak, are also independent directors of Telescope. However, the MSA is not considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, and has been reviewed and approved by Telescope's independent directors.
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. A key area of application for these tools is the development of scalable manufacturing processes for mental health medicines in the under-utilized tryptamine class of compounds, including psychedelic therapeutics. Telescope also applies these toolsets to resolve inefficiencies in industrial process chemistry and manufacturing. Our aim is to bring modern chemical solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Jason Hein, Chief Executive Officer
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of the prospectus filed by the Company and available at www.sedar.com.
Forward-looking statements in this document include expectations surrounding the use and viability of the intellectual property portfolio held by the Company, the research related to the utilization and sequestration of CO2 within SLI's operations, and all other statements that are not statements of historical fact.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic, including the risk that the Company be deemed a non-essential business and asked to temporarily cease operations; general economic conditions; adverse industry events; the success of the first project conducted with SLI; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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