An $8 million investment from world-leading South Korean EV battery metals producer EcoPro Innovation Co., Ltd has boosted Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) as much as 48.45% to A$0.095 per share intraday.
Proactive’s Tylah Tully takes us through the details of the deal, which will involve staged asset-level investments in the Seymour and Root lithium mine developments and negotiation of joint venture agreements.
“We are looking forward to strengthening a long-term relationship with GT1 and being a part of the strategy to become a major North American lithium chemical supplier in Canada,” EcoPro Innovation CEO and president Yoon Tae (Anthony) Kim said.
Green Technology Metals managing director Cameron Henry said the deal was a validation of GT1’s company, team, assets and ability.
“EcoPro stands out as a top-tier strategic partner, bringing invaluable experience in owning and operating, not only successful lithium conversion facilities but also nickel pre-cursor and Cathode Active Material facilities globally,” Henry said.