Stina Resources Ltd. (OTCQB:STNUF) (CSE:SQA.CN)
Breaking News
May 1, 2018
Stina Announces Completion of
Acquisition of the Gildemeister Assets and Resumes Production of CellCube
Vanadium Flow Battery
Toronto, ON, Canada -- May 1, 2018 -- Stina Resources Ltd.
(OTCQB:STNUF) (CSE:SQA.CN)
(Frankfurt: 01X)
(“Stina” or the “Company”) is pleased to announce the completion of an
arm’s length transaction to acquire all the outstanding assets of former
Gildemeister Energy Storage GmbH, including its CellCube vanadium flow battery,
and its energy storage business.
Stina has established a new wholly-owned Austrian subsidiary, Enerox GmbH, that
has acquired the Gildemeister assets and business. Enerox is one of the world's
first and largest researchers, developers, manufacturers and distributors of
vanadium flow batteries. As an industry leader in the energy storage sector, it
has installed vanadium flow batteries at over 100 sites globally.
As energy storage deployments continue to rapidly increase globally, Stina is
committed to invest in technology to further its industry advantages as a
global, integrated energy storage company for both customer-sided and utility
scale energy storage applications.
“Our investment in the former Gildemeister’s assets have enabled us to
immediately offer leading energy storage
technology to global markets and complements our vision for Stina to be a fully
integrated energy storage company. With our end-to-end business approach, we are
bringing about the next evolution in the way energy storage will be integrated
in demand-side and distributed generation power infrastructure alike,” says
Brian Stecyk, President and CEO of Stina.
“Enerox is pleased to announce the acquisition of all the assets of
Gildemeister’s CellCube energy storage business and will now be able to
immediately resume the sale and installation of its energy storage solutions.
CellCube batteries are based on a solid decade of experience in vanadium redox
flow systems with over 100 installations worldwide. These systems provide large
scale electricity storage solutions for energy centric market segments that are
rapidly transitioning towards a 100% carbon free power infrastructure,”
commented Stefan Schauss, President and CEO of Enerox.
Storage markets are estimated to reach 40 GW by 2030 according to Bloomberg New
Energy Finance’s research. CellCube energy storage systems address the need for
energy centric storage of clean, renewable electrical energy as well as reducing
the CO2 footprint of conventional power generation. Energy centric storage
applications, such as the shifting of intermittent renewable energy peaks into
periods of high demand, will lead the transition of modern energy supply chains
around the world.
The first CellCube batteries were installed in 2008 and with a decade of
operational experience the technology has been proven to deliver long lasting
energy storage infrastructure for deployments in a wide range of climates and
heavy load applications. The technology has displayed superior operational
experience in over 100 projects and has a solid track record of energy storage
performance in many supply chain categories.
While the CellCube product line-up with “plug’n play ready” containerized
systems is available today, Enerox expects to soon release the next generation
of flow battery modules poised to seriously challenge competing technologies in
the electrochemical storage space.
The total acquisition price of €5,210,000 (CDN $7,788,950) has been fully paid
for with proceeds from recent private placements. Besides the CellCube battery
technology, the major assets Stina is acquiring include all inventory on-hand,
capital asset equipment used in the manufacturing of the CellCube battery,
software, intellectual property including patents and trademarks, office
equipment, Gildemeister’s customer base and goodwill. Stina is not acquiring any
debt on the acquisition.
About Stina Resources Ltd.
Stina’s acquisition of the assets of Gildemeister Energy Storage GmbH has
transformed Stina and its wholly-owned subsidiary, Enerox, into a leading
integrated resource and energy storage company. Together with the Company’s
recent acquisition of Jet Power & Control Systems Ltd., Stina is gearing up to
deliver fully vertically integrated energy storage solutions to utilities and
independent power producers for both stand-alone energy storage projects as well
as projects where energy storage enhances the value proposition from renewable
energy generation.
For further information, please contact:
Mr. Brian Stecyk, President and CEO
Stina Resources Ltd.
Telephone: 1-800-882-3213
Email: info@stinaresources.com
www.stinaresources.com
THE CSE AND ITS REGULATORY SERVICES PROVIDER HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
SOURCE Stina Resources Ltd.
Stina Announces Completion of
Acquisition of the Gildemeister Assets and Resumes Production of CellCube
Vanadium Flow Battery
Vancouver, British Columbia -- April 24, 2018 -- Stina Resources Ltd.
(OTCQB:STNUF) (CSE:SQA.CN)
(Frankfurt: 01X)
(“Stina” or the “Company”) is pleased to
announce the completion of an arm’s length transaction to acquire all the
outstanding assets of former Gildemeister Energy Storage GmbH, including its
CellCube vanadium flow battery, and its energy storage business.
Stina has established a new wholly-owned Austrian subsidiary, Enerox GmbH, that
has acquired the Gildemeister assets and business. Enerox is one of the world's
first and largest researchers, developers, manufacturers and distributors of
vanadium flow batteries. As an industry leader in the energy storage sector, it
has installed vanadium flow batteries at over 100 sites globally.
As energy storage deployments continue to rapidly increase globally, Stina is
committed to invest in technology to further its industry advantages as a
global, integrated energy storage company for both customer-sided and utility
scale energy storage applications.
“Our investment in the former Gildemeister’s assets have enabled us to
immediately offer leading energy storage
technology to global markets and complements our vision for Stina to be a fully
integrated energy storage company. With our end-to-end business approach, we are
bringing about the next evolution in the way energy storage will be integrated
in demand-side and distributed generation power infrastructure alike,” says
Brian Stecyk, President and CEO of Stina.
“Enerox is pleased to announce the acquisition of all the assets of
Gildemeister’s CellCube energy storage business and will now be able to
immediately resume the sale and installation of its energy storage solutions.
CellCube batteries are based on a solid decade of experience in vanadium redox
flow systems with over 100 installations worldwide. These systems provide large
scale electricity storage solutions for energy centric market segments that are
rapidly transitioning towards a 100% carbon free power infrastructure,”
commented Stefan Schauss, President and CEO of Enerox.
Storage markets are estimated to reach 40 GW by 2030 according to Bloomberg New
Energy Finance’s research. CellCube energy storage systems address the need for
energy centric storage of clean, renewable electrical energy as well as reducing
the CO2 footprint of conventional power generation. Energy centric storage
applications, such as the shifting of intermittent renewable energy peaks into
periods of high demand, will lead the transition of modern energy supply chains
around the world.
The first CellCube batteries were installed in 2008 and with a decade of
operational experience the technology has been proven to deliver long lasting
energy storage infrastructure for deployments in a wide range of climates and
heavy load applications. The technology has displayed superior operational
experience in over 100 projects and has a solid track record of energy storage
performance in many supply chain categories.
While the CellCube product line-up with “plug’n play ready” containerized
systems is available today, Enerox expects to soon release the next generation
of flow battery modules poised to seriously challenge competing technologies in
the electrochemical storage space.
The total acquisition price of €5,210,000 (CDN $7,788,950) has been fully paid
for with proceeds from recent private placements. Besides the CellCube battery
technology, the major assets Stina is acquiring include all inventory on-hand,
capital asset equipment used in the manufacturing of the CellCube battery,
software, intellectual property including patents and trademarks, office
equipment, Gildemeister’s customer base and goodwill. Stina is not acquiring any
debt on the acquisition.
About Stina Resources Ltd.
Stina’s acquisition of the assets of Gildemeister Energy Storage GmbH has
transformed Stina and its wholly-owned subsidiary, Enerox, into a leading
integrated resource and energy storage company. Together with the Company’s
recent acquisition of Jet Power & Control Systems Ltd., Stina is gearing up to
deliver fully vertically integrated energy storage solutions to utilities and
independent power producers for both stand-alone energy storage projects as well
as projects where energy storage enhances the value proposition from renewable
energy generation.
For further information, please contact:
Mr. Brian Stecyk, President and CEO
Stina Resources Ltd.
Telephone: 1-800-882-3213
Email: info@stinaresources.com
www.stinaresources.com
This news release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation. Forward-looking statements are
statements that are not historical facts which address events, results, outcomes
or developments that the Company expects to occur; they are generally, but not
always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions, or that events or conditions "will",
"would", "may", "can", "could" or "should" occur. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's management on the
date the statements are made and they involve a number of risks and
uncertainties. Certain material assumptions regarding such forward-looking
statements are discussed in this news release and the Company's annual and
quarterly management's discussion and analysis filed at www.sedar.com. Except as
required by the securities disclosure laws and regulations applicable to the
Company, the Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other factors,
should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in
the policies of the CSE) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Stina Resources Ltd.
Stina Closes Oversubscribed
Private Placement Raising $12.5M
Vancouver, British Columbia -- April 23, 2018 -- Stina Resources Ltd.
(OTCQB:STNUF) (CSE:SQA.CN)
(“Stina” or the “Company”) is pleased to announce that it has closed the final
tranche of its oversubscribed non-brokered private placement for aggregate
proceeds of $12,500,000.
The Company is very pleased by the support received from major institutions in
Canada with respect to the proceeds raised and looks forward to the roll out of
CellCube and the commercialization of the Company's VRB battery storage
globally.
The private placement closed through the issuance of 16,423,660 units ("Units")
of the Company a price of $0.30 per Unit (the "Offering") for gross proceeds of
$4,927,079. Each Unit consists of one common share (a "Common Share") of the
Company and one-half of one Common Share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder thereof to purchase a Common Share
at an exercise price of $0.60 for a period of three (3) years following the
closing of the Offering. Combined with its three previously announced tranches,
the Company successfully raised an aggregate total of $12,500,000 in the
oversubscribed private placement.
Eligible persons (the "Finders") were paid a cash commission equal to 6% of the
proceeds raised from subscribers introduced to the Company by such Finders and
Broker Warrants equal to 6% of the Units issued pursuant to the Offering.
Closing of the Offering is subject to receipt of all necessary corporate and
regulatory approvals, including completion of the requisite filings with the
Canadian Securities Exchange. All securities issued in connection with the
Offering are subject to a hold period of four months plus a day from the date of
issuance and the resale rules of applicable securities legislation. Proceeds of
the Offering will be used for general working capital purposes.
A director of the Company (the "Related Party") participated in the Offering.
This transaction constitutes a "related party transaction" as defined under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The transaction is exempt from the formal
valuation and minority shareholder approval requirements of MI 61-101 as neither
the fair market value of securities being issued to the Related Party nor the
consideration being paid by the Related Party exceeded 25% of the Company's
market capitalization. A material change report in respect of this related party
transaction will be filed by the Company but could not be filed at least 21 days
prior to the closing of the Offering due to the fact that the Company wished to
close the transaction as soon as practicable to enable it to use the proceeds of
the Offering to complete a pending transaction.
For further information, please contact:
Brian Stecyk
President
Telephone: 780-953-0111
The Canadian Securities Exchange has not reviewed this press release and does
not accept responsibility for the adequacy or accuracy of this news release.
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.
SOURCE Stina Resources Ltd.
Stina Resources presents an
overview of the Vanadium Flow Battery market to Hatch
Vancouver, British Columbia -- April 18, 2018 -- Stina Resources Ltd.
(OTCQB:STNUF) (CSE:SQA.CN)
(“Stina” or the “Company”) will present the Flow Vanadium Battery ("VBR")
technology to Hatch Ltd. ("Hatch"). Hatch is known for their innovation and
technical excellence on the forefront of advanced solutions for the sustainable
infrastructure. This presentation will give an overview of how the Flow Battery
could offer an innovative solution to Hatch projects requiring energy storage
such as: grid storage; micro-grids; off-grid storage for solar and wind power;
diesel power replacement; back-up power systems; farming applications;
electrical vehicle charging stations; industrial plants; building applications;
and emergency power sources.
"We're excited that Mr. Stefan Schauss, CEO President of Enerox and our new
company advisor, Mr. Greig Hutton, P. Eng, jointly present to Hatch," states
Brian Stecyk, President and CEO of Stina. "Mr. Hutton has a B.Sc. in Mechanical
Engineering from the University of Waterloo and is well suited to introduce
Stina's CellCube technology, which has over 100 installations of Vanadium Flow
Batteries worldwide."
About Hatch
Whatever our clients envision, our engineers can design and build. With over six
decades of business and technical experience in the mining, energy, and
infrastructure sectors, we know your business and understand that your
challenges are changing rapidly. We respond quickly with solutions that are
smarter, more efficient and innovative. We draw upon our 9,000 staff with
experience in over 150 countries to challenge the status quo and create positive
change for our clients, our employees, and the communities we serve.
Find out more on www.hatch.com
About Stina
The grid connected storage market is expected to grow 44% annually with the
market size reaching US $18 billion by 2024 (Navigant Research). Stina, with its
recent acquisition of the assets of Gildemeister Energy Storage GmbH ("Gildemeister")
and Jet Power and Controls Ltd. ("Jet Power"), is ideally positioned to
capitalize on the demand for vanadium redox flow batteries ("VRBs") worldwide to
help meet the World's rapidly growing energy storage needs.
Gildemeister has been a world leader in the development of VRBs. After 20 years
of extensive research and development, Gildemeister developed the patented
CellCube battery, the most commonly installed VRB in the World.
Enerox CellCube vanadium flow batteries have several attractive attributes:
- CellCube batteries can store large amounts of energy including megawatts or
even gigawatts of energy.
- CellCube batteries are plug-and-play—capacity increased just by adding another
unit.
- CellCube batteries can have over 20,000 cycles, last a minimum of 20 to over
30 years and some that have been operating for over 10 years have never required
servicing.
- CellCube batteries are safe, non-flammable and non-explosive.
- CellCube batteries are monitored on a 24/7/365 basis, wherever they are in the
world.
- CellCube batteries can be 100% discharged without any negative effect on the
battery.
- CellCube batteries provide high power output capacity over long durations
allowing optimal usage of renewable energy sources.
- CellCube batteries are currently operating in a broad range of climates
including in Siberia, Africa, South East Asia, Europe, North America, and
Australia. They can operate in all conditions—from extreme cold to dry deserts
and extreme tropical environments.
- CellCube batteries are very cost-effective, especially when long-duration use
is considered
THE CSE AND ITS REGULATORY SERVICES PROVIDER HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. WE SEEK
SAFE HARBOR
SOURCE Stina Resources Ltd.
Stina Closes Third Tranche of
Private Placement
Vancouver, British Columbia -- April 17, 2018 -- Stina Resources Ltd.
(OTCQB:STNUF) (CSE:SQA.CN)
(“Stina” or the “Company”) is pleased to announce that it has closed a third
tranche of its fully subscribed non-brokered private placement for gross
proceeds of $1,1701,901 through the issuance of 5,673,006 units ("Units") of the
Company at a price of $0.30 per Unit (the "Offering"). Each Unit consists of one
common share (a "Common Share") of the Company and one-half of one Common Share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the
holder thereof to purchase a Common Share at an exercise price of $0.60 for a
period of three (3) years following the closing of the Offering.
Eligible persons (the "Finders") were paid a cash commission equal to 6% of the
proceeds raised from subscribers
introduced to the Company by such Finders and Broker Warrants equal to 6% of the
Units issued pursuant to the Offering.
Closing of the Offering is subject to receipt of all necessary corporate and
regulatory approvals, including completion of the requisite filings with the
Canadian Securities Exchange. All securities issued in connection with the
Offering are subject to a hold period of four months plus a day from the date of
issuance and the resale rules of applicable securities legislation. Proceeds of
the Offering will be used for general working capital purposes.
A director of the Company (the "Related Party") participated in the Offering,
which participation constitutes a "related party transaction" as defined under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). Such a related party transaction is exempt
from the formal valuation and minority shareholder approval requirements of MI
61-101 as neither the Company nor, to the knowledge of the Company after
reasonable inquiry, the Related Party has knowledge of any material information
concerning the Company or its securities that has not been generally disclosed.
The participants in the Offering and the extent of such participation were not
finalized until shortly prior to the completion of the Offering. Accordingly, it
was not possible to publicly disclose details of the nature and extent of
related party participation in the Offering pursuant to a material change report
filed at least 21 days prior to the completion of the Offering
The Company also wishes to correct its press release dated April 6, 2018, the
press release should have indicated that the Company closed its second tranche
of $2,687,999 thorough the issuance of 8,959,998 Units as opposed to 4,479,998
Units.
For further information, please contact:
Brian Stecyk
President
Telephone: 780-953-0111
The Canadian Securities Exchange has not reviewed this press release and does
not accept responsibility for the adequacy or accuracy of this news release.
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.
SOURCE Stina Resources Ltd.
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About Stina Resources Ltd.:
LStina Resources Ltd. has the vision of becoming North America’s first
vertically integrated producer of vanadium & vanadium electrolytes for the
energy storage industry.
Stina has significant vanadium rich properties in Nevada. The Bison McKay claims
contain a pure vanadium resource. Unlike most other vanadium deposits where
vanadium is inter-mingled with other metals such as iron, or uranium, the Bisoni
McKay properties contain pure vanadium in a carbonaceous shale.
These vanadium resources may be ideal to meet the need of the growing vanadium
electrolyte energy storage market. Vanadium redox flow batteries used for grid
energy storage are being recognized by many as the way of the future.
Stina Resources Ltd. is dedicated to increasing shareholder value through
exploration and development of their vanadium resources and converting the
vanadium into vanadium electolyte for the energy storage market.
BRIAN STECYK
PRESIDENT, CEO & DIRECTOR
Mr. Stecyk has an extensive background not only in corporate communications, but
also in corporate and political networking and public relations. He operates a
successful advertising and public relations firm that is now entering its
thirty-sixth year in business. In addition to marketing and communications his
strengths include strategic management and planning. For several years he was a
member of the Canadian Association of Professional Speakers.
GREG GIBSON
DIRECTOR
Mr. Gibson has over 30 years experience in all aspects of mining. Currently
President and CEO of Sprott Mining Company and director of several public
companies. He successfully led the 608 million dollar sale of Trelawney to
IAMGOLD in 2012
Mr. Murray is presently a financial consultant and President of a merchant
banking firm specializing in starting and managing junior public companies in a
wide range of industries. He has extensive experience in mineral exploration and
environmental technology. He is a Chartered Accountant and has an MBA from York
University
BRIAN MURRAY
Director
Mr. Hopkins has over 30 years of financial management experience in the
resources industry. He has spent most of his career in senior roles with public
mining companies, including Kerr Mines Inc., U.S. Silver, Rio Algom, BHP
Billiton, Suncor and several Canadian and international junior mining companies.
He has broad junior resource experience in the areas of corporate finance,
capital markets, mergers and acquisitions, investor relations, financial and
management reporting. He has a bachelor of commerce from the University of
Toronto, and a chartered accountant designation and MBA from the Schulich School
of Business at York University
VANADIUM IS A STRATEGIC METAL USED IN THE PRODUCTION OF HIGH-QUALITY METAL
ALLOYS. ITS MOST COMMON USES ARE IN HIGH STRENGTH STEEL, IN THE AEROSPACE
INDUSTRY, AND CHEMICAL USES FOR THE PRODUCTION OF CATALYSTS, CERAMICS, GLASSES
AND PIGMENTS, ELECTRONICS AND BATTERIES.
Vanadium is becoming an increasingly well-known and important mineral.
Traditionally it has been used to increase the
strength
of steel. 90% of theworld's vanadium is currently used in steel production.
BISONI-MCKAY PROPERTY
Stina Resources Ltd. has owned the Bisoni-Rio claims in northeastern Nevada for
over 30 years, waiting for an opportune time to develop the vanadium resources
on the property. Unlike traditional vanadium mineral resources which are
typically intermingled with other minerals such as cobalt, lead, iron, uranium,
etc. the Bisoni-McKay resource if pure vanadium in a carbonaceous shale.
Previously vanadium was primarily used for steel production but now new uses
such as an electricity storage media in vanadium redox flow batteries is
accelerating demand for the metal. This trend is anticipated to continue as grid
energy storage becomes more and more prevalent as the new technology is adopted.
The US Department of Energy reports that there are currently 59 Vanadium Redox
Battery installations throughout the world.
- Past exploration by Union Carbide (1950s), Hecla Mining (1970s) and Noranda
(1980s)
- Contains significant vanadium carbonaceous resources that allow for high level
of vanadium electrolyte purity
- Supergene enrichment zone of up to 35 feet width identified immediately below
Redox zone, revealing anomalous grade surges of 50% to 150%
- Continuity of mineralization confirmed in past exploration drilling campaigns
- Close to surface; open-pittable; examining modern extraction methods
During the summer of 2017, Stina 164 claims immediately to the north, including
over the original Bisoni Vanadium Property, and up to the adjacent Gibillini
Vanadium Property. This recent brings the total Stina land claims in the Nevada
Vanadium Belt to 201, and covers a total area of 4,115 acres.
But, usage/value/price is dramatically changing thanks to the new applications
as electrolyte in redox flow, vanadium lithium ion and other types of batteries
for energy storage.
SOURCE: http://stinaresourcesltd.com/
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