Hertz Power Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (“Hertz” or the “Firm”) is happy to announce the acquisition of the Harriman Antimony Property (“Harriman Property” or the “Property”) comprised of 49 mineral claims (roughly 2,500 hectares) situated within the Province of Québec via an arms size possibility settlement (the “Settlement”) between prospector Glenn Griesbach (“Griesbach”) and Canuck Lithium Corp. (“Canuck Lithium”), a wholly-owned subsidiary of Hertz.
The Harriman Property is an exploration stage antimony undertaking situated roughly 17 km northeast of the city of New Richmond within the Gaspé Area of Québec. The Gaspé Area is understood for a wide range of important mineral deposits, most notably the Mine Gaspé Copper Mine, presently being developed by Osisko Metals. The Harriman Property advantages from good highway entry, hydroelectric energy, port entry, and close by obtainable manpower.
The Property was developed by compiling and reviewing historic antimony (Sb) and gold (Au) showings from the Québec authorities geoscientific database often known as SIGÉOM. The Property space was outlined by a sequence of 4 antimony showings, all hosted alongside a northeast-trending fault construction. Historic outcomes from the close by showings on the northeast-trending fault embody 2.32% Sb, 3.36 g/t Au (Harriman-2), 43.75 Sb, 3.4 g/t Au (New Richmond), 4.8% Sb, 7.89 g/t Au and 15.35% Sb (Harriman-4 Sud) (supply: SIGÉOM).
The Harriman Property contains the Harriman-Sud displaying returning 15.35% Sb from a historic seize pattern. This displaying has had restricted earlier exploration and has not had any historic drilling.
No mineral assets or reserves have been outlined on the Property. References herein to potential grades herein are historic and conceptual in nature. There was inadequate exploration to outline a mineral useful resource or deposit and there may be no assurance that additional geological work will lead to mineral assets, or a deposit being outlined on the Property.
The Property is being acquired from Glenn Griesbach, P.Geo a prolific prospector who has compiled the Harriman property. Mr. Griesbach is presently quantity 4 (4) on the record of claims possession within the Province of Québec with over 7,500 lively claims and has accomplished over sixty (60) mineral property transactions.
Hertz Power presently holds approx. $750,000 in vital minerals Movement Through capital and intends to aggressively discover the Harriman Antimony Venture. Hertz is straight away launching a floor floor exploration program in mid September with the intention to advance the undertaking in direction of a winter drill program.
OPTION AGREEMENT TERMS
The Firm can train the Choice and earn a 100% curiosity within the Property by making a money cost of $20,000 inside seven enterprise days of execution of the Settlement and issuing an mixture of 4,000,000 frequent shares to Griesbach.
The issuance of 4,000,000 frequent shares of Hertz Power (father or mother firm of Canuck Lithium) to Griesbach is as follows:
- 1,000,000 frequent shares within the capital of Hertz Power (the “Widespread Shares”) upon signature of the Settlement and upon receipt of the approval of the TSXV;
- 1,500,000 frequent shares within the capital of Hertz Power on or earlier than the first anniversary of the efficient date of the Settlement; and
- 1,500,000 frequent shares within the capital of Hertz Power on or earlier than the 2nd anniversary of the efficient date of the Settlement.
Upon the graduation of economic manufacturing from the Property, the Firm pays a royalty (the “NSR Royalty”) to Griesbach being equal to 2.5% of Web Smelter Returns. The NSR Royalty could also be diminished at any time from 2.5% of Web Smelter Returns to 1% of Web Smelter Returns by the Firm or its permitted assign, by paying to Griesbach C$1,500,000. This proper shall be exercisable on the Choice of Canuck Lithium at any time and shall run with the land and never be assignable with out the consent of Canuck Lithium.
Determine 1 Harriman Antimony Venture Map
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Determine 2: Harriman Antimony Venture Geology Map
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Determine 3: Harriman Antimony Airborne Magnetics Map
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About Antimony-Briefly Provide
In August, China introduced antimony export restrictions which take impact on September 15, 2024 (supply: Reuters, August 28, 2024) and are anticipated to have important implications for the worldwide antimony provide chain. China’s announcement of antimony export restrictions has added gas to a red-hot market and opens one other potential flash-point with the West for management of vital minerals. Antimony is a little-known steel with a number of functions. Antimony’s largest end-use is as a flame retardant, however it’s also present in photo voltaic panels and batteries. The U.S. Division of the Inside has designated it a vital mineral as a result of it’s also important for armour-piercing ammunition, infrared sensors, and precision optics.
Antimony costs have practically doubled for the reason that begin of the yr to a report $22,750 per tonne partially due to shrinking exports from main producers and a worldwide deficit of the steel. China’s exports are in medium-term decline as a result of increased demand from its photo voltaic power sector, whereas Russian provide has been crimped by falling output and Western sanctions. The move from different massive producing nations comparable to Vietnam, Tajikistan, and Myanmar has been disrupted by the re-routing of shipments from the Crimson Sea as a result of Houthi assaults on transport.
Analysts estimate the market was already taking a look at a ten,000-ton shortfall earlier than China’s export restrictions. These new controls are usually not focused at any particular nation however Chinese language authorities can refuse licences to export to particular person end-user firms or nations as they see match.
Different Info on Antimony:
https://www.csis.org/evaluation/chinas-antimony-export-restrictions-impact-us-national-security
https://www.antimony.com/wpfd_file/i2a-china-export-restriction-press-release-20-august-2024/
Kal Malhi, CEO of Hertz Power, commented, “With the Chinese language export restrictions on Antimony quickly taking impact and a number of other lively conflicts world wide, the necessity for antimony has sky rocketed together with the worth of antimony. Antimony is used closely in a wide range of army functions, together with evening imaginative and prescient goggles, explosive formulations, flares, nuclear weapons manufacturing, and infrared sensors plus as a fireplace retardant, in photo voltaic panels and electrical batteries. Hertz Power’s acquisition will permit the Firm to concentrate on using our present flow-thru money place of roughly $7500,000 to aggressively discover the Harriman Antimony Venture within the coming months.“
HERTZ ENGAGES INVESTOR RELATIONS CONSULTANTS
Hertz Power additionally studies that it has engaged the next Investor Relations Consultants.
Investing Information Community
Hertz Power proclaims that it has entered into an promoting and investor consciousness marketing campaign settlement with Investing Information Community (“INN”). INN is a non-public firm headquartered in Vancouver, Canada, devoted to offering impartial information and schooling to traders since 2007.
INN will introduce the Firm to INN’s viewers of educated, lively traders. Utilizing a wide range of strategies, together with an enhanced advertiser profile, information advertising and marketing, web site and publication promoting and devoted emails, INN will encourage its viewers to have interaction immediately with the Firm to think about investing within the Firm. INN doesn’t present Investor Relations or Advertising companies. The Settlement is for 3 (3) months, commencing on September 4, 2024. INN might be granted 500,000 Choices to buy Hertz Power frequent shares at a value of $0.085 over two years. INN may be reached at data@investingnews.com or by telephone at 604-688-8231; INN is situated at 736 Granville Avenue, Suite 1200, Vancouver, BC V6Z 1E4. INN presently holds no frequent shares of the Firm. The Firm is not going to concern any securities to INN as compensation for the companies. INN has no direct relationship with the Firm aside from as set out on this information launch.
Outdoors the Field
The Firm proclaims that it has entered right into a advertising and marketing and consulting settlement (the “OTBC Settlement”) with an arm’s size advertising and marketing agency, Outdoors The Field Capital Inc. (“OTBC”) of Oakville Ontario, to offer advertising and marketing consulting and investor relations companies, together with advertising and marketing companies via social media channels and on-line media distribution.
In reference to the OTBC Settlement, for a time period of 1 month beginning on September 4, 2024, the Firm will concern OTB 500,000 choices to buy Hertz Power shares at a value of $0.085 over two years and funds of $25,000 upon signing of settlement. OTBC has no direct relationship with the Firm aside from as set out on this press launch.
CanaCom
Pursuant to the phrases of the CanaCom Settlement, the companies are to be offered over a 6-month interval, commencing on September 5, 2024, for a price of $30,000, plus relevant taxes. CanaCom is a full-service advertising and marketing company based mostly in Toronto, Ontario. CanaCom gives digital advertising and marketing consciousness by way of promoting via its totally owned platform theDeepDive.ca, which incorporates each video and written content material protection of Canadian small-cap tales. CanaCom has its principal office at 1836 Scarth Avenue, Regina, SK S4P 3G3. CanaCom may be contacted at jay@thedeepdive.ca or by phone at (306) 993-4791. CanaCom has no direct relationship with the Firm aside from as set out on this press launch.
QUALIFIED PERSON STATEMENT
All scientific and technical info contained on this information launch was reviewed and accredited by Paul Teniere, P.Geo., Technical Advisor of Hertz Power, who’s a “Certified Individual” as outlined in NI 43-101.
Concerning the Firm
The Firm is a British Columbia based mostly junior exploration firm primarily engaged within the acquisition and exploration of power metals mineral properties. The Firm’s lithium exploration tasks embody the AC/DC Lithium Venture, and Snake Lithium Venture in Jame Bay Québec. The AC/DC Venture is 26,500 hectares situated within the famend James Bay Lithium District in Québec, Canada, simply 26kms southeast of the Corvette Lithium Venture owned by Patriot Battery Metals and is contiguous to Rio Tinto’s Kaanaayaa undertaking claims. The Firm’s Snake Lithium Venture can also be district scale and situated amongst extremely potential tasks held by different exploration firms. Hertz Power’s Harriman Antimony Venture is its first Antimony property acquisition.
For additional info, please contact Mr. Kal Malhi or view the Firm’s filings at www.sedarplus.ca.
On Behalf of the Board of Administrators
Kal Malhi
Chief Govt Officer and Director
Telephone: 604-805-4602
E-mail: kal@bullruncapital.ca
Neither the Canadian Securities Alternate nor its Regulation Companies Supplier accepts accountability for the adequacy or accuracy of this information launch.
Cautionary Assertion Relating to “Ahead-Trying” Info
This information launch contains sure statements which may be deemed “forward-looking statements”. All statements on this new launch, aside from statements of historic details, that tackle occasions or developments that the Firm expects to happen, are forward-looking statements. Ahead-looking statements are statements that aren’t historic details and are typically, however not all the time, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “tasks”, “potential” and related expressions, or that occasions or circumstances “will”, “would”, “might”, “might” or “ought to” happen. Though the Firm believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements are usually not ensures of future efficiency and precise outcomes might differ materially from these within the forward-looking statements. Elements that might trigger the precise outcomes to vary materially from these in forward-looking statements embody market costs, continued availability of capital and financing, and basic financial, market or enterprise circumstances. Traders are cautioned that any such statements are usually not ensures of future efficiency and precise outcomes or developments might differ materially from these projected within the forward-looking statements. Ahead-looking statements are based mostly on the beliefs, estimates and opinions of the Firm’s administration on the date the statements are made. Besides as required by relevant securities legal guidelines, the Firm undertakes no obligation to replace these forward-looking statements within the occasion that administration’s beliefs, estimates or opinions, or different components, ought to change.
