Vancouver, British Columbia--(Newsfile Corp. - November 3, 2016) - Maxtech Ventures (CSE: MVT) (FSE: M1N) has entered into a Letter of Intent to acquire high-grade manganese mineral claims in the State of Mato Grosse, Brazil. Brazil has 10% of global manganese reserves, with manganese being the 4th most widely used metal worldwide. Nearly 90% of manganese output is used in the steel industry, but its applications also include the manufacture of fertilizers, animal food and cars.
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Maxtech plans to procure the highest grade possible, which can be used in the Lithium Manganese Dioxide batteries, which contain 4% lithium, 61% manganese and 35% oxygen by atomic weight. Manganese dioxide "MnO2" is used as the primary cathode material, a critical active component, directly impacting battery performance. These batteries have a long-term reliability of 10 years, making them ideal for use in consumer electronics such as mobile phones, camcorders, notebook computers.
They are also automotive applications for hybrids and electric vehicles. According to Bloomberg, by 2020, about 2.2 million electric vehicles will be sold globally, up from 460,000 expected in 2016.
Other key features of these batteries include superior low-temperature characteristics, and high safety due to internal short-circuit prevention structure.
Peter Wilson recently assumed the role of CEO and interim CFO. Mr. Wilson is the founder and president of private investment firm Sterling Grant Capital, which provides strategic advisory services to a range of technology and mining companies.
The shares are currently $0.27 bid with no shares offered, and with 45.6 million shares currently outstanding, the company is capitalized at $12.3 million.
For more information, please visit www.maxtech-ventures.com, contact Peter Wilson at 604-330-3119 or email info@maxtech-ventures.com.
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