#EV #Stocks Driving Higher: (NASDAQ: $MULN) (NASDAQ: $TSLA) (NYSE: $NIO) (NYSE: $F) @Mullen_USA @Tesla @NIOGlobal @Ford

#EV #Stocks Driving Higher: (NASDAQ: $MULN) (NASDAQ: $TSLA) (NYSE: $NIO) (NYSE: $F) @Mullen_USA @Tesla @NIOGlobal @Ford

 

Government, Consumers and Investor Sentiment Align on #ElectricVehicles

 

Vancouver, Delta, BC, October 20, 2022 - Investorideas.com, a leading investor news resource covering EV and automotive stocks releases a special report featuring Mullen Automotive, Inc. (NASDAQ: MULN), covering the continued growth of the EV market as government policy and infrastructure plans sync up with consumer and investor interest in the EV space.

 

Read this article, featuring MULN in full at https://www.investorideas.com/news/2022/renewable-energy/10201EV-Stocks.asp

 

The Global Electric Car Market was valued at USD 105 Billion in 2021 and according to Vantage Market Research's recent analysis; the market is projected to attain a value of USD 354.80 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19% during the forecast period 2022 to 2028.

 

According to the global analysis, the electric car industry is considered a viable alternative to today's automobiles in the near future to address environmental issues. There are now more than 16 Million electric cars running across the globe, consuming approximately 30 terawatt-hours (TWh) of electricity per year.

 

Seeing the future of the sector, Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle manufacturer, recently announced the US Bankruptcy Court approval on Oct. 13, 2022 of its acquisition of electric vehicle company ELMS’s (Electric Last Mile Solutions) assets in an all cash purchase.  In the Chapter 7 approved transaction, Mullen will acquire ELMS’s manufacturing plant, all inventory and intellectual property.

 

From the news: The Mishawaka, IN factory that forms part of the Company’s acquisition, previously produced General Motors Hummer H2 SUV and SUT and also subsequently contract manufactured the Mercedes-Benz R-Class vehicle. This makes it the perfect fit for production of the Mullen and Bollinger portfolio of consumer vehicles. The ELMS asset acquisition, and the recent acquisition of the majority ownership of Bollinger Motors, gives Mullen the ability to integrate Bollinger’s vehicle platforms, B1 and B2 along with Mullen’s FIVE and FIVE RS platforms into an already existing and capable high volume manufacturing facility. As a result, this will accelerate the launch of the Bollinger B1, B2 retail vehicles by 12 plus months.

 

Manufacturing optimization will include moving the Mullen FIVE EV Crossover production to the Mishawaka Factory from the Tunica, MS facility. Mullen FIVE production is planned to begin production in 2024. Tunica will now become the Commercial Manufacturing Center and capitalize to produce all Mullen and Bollinger Class 1 to 6 commercial vehicles.

 

With the additional Manufacturing capacity, total production volumes are expected to exceed Mullen’s previous business plan projections. The commercial portfolio is expected to increase over 50% with the addition of the ELMS assets and the retail portfolio is expected to more than double with the addition of Bollinger vehicles and the manufacturing capacity of Mishawaka.

 

The Company’s majority ownership acquisition of Bollinger Motors was closed in August 2022 with a combination of stock and cash. The ELMS acquisition will be completed as an all-cash purchase.

 

“Mullen’s acquisition of Bollinger was one of the largest transactions of its kind in the EV market. Upon closing the ELMS transaction, the Company will be in a position to strategically leverage all its acquired assets to shorten its production path and aggressively expand into the commercial and consumer EV market,” said David Michery, CEO and chairman of Mullen Automotive.

 

This follows Mullen’s previous acquisition of a controlling interest in EV truck innovator Bollinger Motors Inc. The purchase price was $148.2 million in cash and stock for a 60% controlling interest, giving Mullen the majority ownership of Bollinger Motors. This acquisition was MULN's first EV acquisition, propelling it into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks.

 

Market research reports show that growth in the sector is going to  significantly build as Mullen follows this acquisition path.

 

In a recent article, cleantechnica.com reported on EV sales in the US; “Fully electric vehicles have grown and grown in recent years. More and more models hit the market each month, and some of them are selling in decent volumes. Meanwhile, Tesla’s strong growth continues and one wonders how high Tesla can go. It’s on the verge of being one of the 10 top selling auto brands in the United States, an achievement that is likely to be reached in the 4th quarter of 2022.”

 

According to a recent Zack’s report, this could mean good news for EV manufacturer Tesla Inc. (NASDAQ: TSLA), as right now expectations are low for the September-quarter earnings season that's now underway, suggesting potential upside for shares of companies that do come in ahead of analysts' estimates, while raising risks for companies that fail to meet even modest expectations.

 

From the report: "This week and next week are just crucial and full of earnings," said Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia.

 

Monday's major rally on Wall Street was just the latest in an unusually volatile year. The S&P 500 has recorded daily gains or losses of more than 2% 39 times so far in 2022, compared to seven times last year and 44 times in all of 2020.

 

Shares of Tesla jumped 7%, with the electric vehicle maker's report late on Wednesday set to be one of this week's main attractions.

 

Wall Street's most heavily traded stock, Tesla has tumbled over 17% since Oct. 2, when it disclosed third-quarter vehicle deliveries that missed estimates as logistical challenges overshadowed its record deliveries. However, analysts still expect Chief Executive Elon Musk to deliver a 60% jump in quarterly revenue and a 48% surge in "adjusted" earnings before interest, taxes, depreciation and amortization.

 

As Wall Street becomes more and more focused on the EV market, newcomers and longtime rivals in the market are taking advantage of the opportunity Tesla is creating to attract more investors.

 

Major automotive giant and now a major player in the EV market, Ford Motor Company (NYSE: F), recently reported its September 2022 US sales results.

 

Ford electric vehicle sales continued to outpace the segment, with sales up 197.3 percent. Ford share of the electric vehicle segment was up in September 3.1 percentage points over last year with 7.0 percent share. In September, F-150 Lightning continued as America’s best-selling electric pickup; E-Transit was also America’s best-selling electric van in September.

 

“Ford continued to see high-demand vehicles turning at record rates in September, while developing electric truck and van leadership and extending our overall truck leadership. Demand remains strong with new retail orders rapidly expanding. We are very pleased with the work from our dealers, employees and the area’s first responders, as they are working tirelessly to recover in Florida from Hurricane Ian,” stated Andrew Frick, Vice president, Sales, Distribution & Trucks, Ford Blue.

 

NIO Inc. (NYSE: NIO) recently made headway into four more European countries after entering Norway in 2021. At a recent event in Berlin, NIO announced extending its services to Germany, Netherlands, Denmark and Sweden.

 

The selling strategy is different from the Norwegian market, wherein the automaker sells its electric vehicles (EVs) directly. Instead, in the new markets, it has introduced a subscription-based model through which customers can lease vehicles and rent NIO’s three models, namely two sedans and one SUV. NIO has stated that since tax policies are not lucrative, it has decided on the new strategy.

 

The subscription period can be as short as a month and the longest being 60 months. Additionally, customers will get access to other services by NIO, as well as use NIO Houses. The Berlin NIO House is expected to open soon and new facilities will eventually open in other markets.

 

The subscription plans have been designed holistically to allow users to enjoy a hassle-free experience. It comprises comprehensive insurance, maintenance, winter tires, a courtesy car, battery swapping and the flexibility to upgrade battery services.

 

Besides getting the vehicles charged, customers have the provision for swapping their dead batteries for fully charged ones at NIO's swapping stations. In September-end, the company opened its first battery swap station in Germany’s Zusmarshausen on a motorway between Munich and Stuttgart.

 

Also, the company opened its first European plant to manufacture swapping stations in Hungary last month. NIO has laid out an ambitious plan to install at least 120 battery-swapping stations in Europe by the end of 2023.  By 2025, it aims to build 1,000 swapping stations overseas, most of which will be in Europe.

 

According to recent commentary, shares of the Chinese electric vehicle maker recently rose as investors reacted to comments made by Chinese President Xi Jinping about his country's focus on new technologies.

 

This is comparable to stock bumps we saw after the announcements earlier this year from Joe Biden and other world leaders and can be what is expected moving forward as we continue to see real movement, legislation and funding to make EV’s the future of transportation.

 

Investor Ideas has a free directory of renewable energy stocks including EV and green automotive stocks for Investors to research. https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp

 

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.Disclosure: this news article featuring MULN is a paid for news release on Investorideas.com .More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

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#EV #Stock Mullen (NASDAQ: $MULN) Continues Acquisition Path with Purchase of ELMS Assets Including Factory in Mishawaka, IN, Enabling #EVProduction for Retail and Commercial Vehicle Lines; @Mullen_USA

#EV #Stock Mullen (NASDAQ: $MULN) Continues Acquisition Path with Purchase of ELMS Assets Including Factory in Mishawaka, IN, Enabling #EVProduction for Retail and Commercial Vehicle Lines; @Mullen_USA

 a

Manufacturing Capability to Produce 50,000 Vehicles per Year

 

Mullen’s cash on hand and funding commitment of up to $240 million provides the company with access of up to $275 million to close acquisition and fund vehicle launches

 

BREA, Calif., October 19, 2022 – (Investorideas.com Newswire) Mullen Automotive, Inc. (NASDAQ:MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces the US Bankruptcy Court approval on Oct. 13^th, 2022 of its acquisition of electric vehicle company ELMS’s (Electric Last Mile Solutions) assets in an all cash purchase.  In the Chapter 7 approved transaction Mullen will acquire ELMS’s manufacturing plant, all inventory and intellectual property.

 

Read this news, featuring MULN in full at https://www.investorideas.com/CO/MULN/news/2022/10191Acquisition-ELMS-Assets.asp

 

Acquisition benefits include:

·        The factory in Mishawaka, IN providing Mullen with the capability to produce up to 50,000 vehicles per year

·        Allows acceleration of the path to production and market for Mullen FIVE and Bollinger B1, B2 retail vehicles by 12 plus months

·        Commercial Product Platforms to be assembled at Mullen’s Tunica MS. Facility, for Launch of Mullen Class 1 and Class 3 Commercial Delivery vehicles into Market in 2023.

·        The platform and plant acquisition results in a significant reduction of the Company’s previously forecast overall spend

 

The Mishawaka, IN factory that forms part of the Company’s acquisition, previously produced General Motors Hummer H2 SUV and SUT and also subsequently contract manufactured the Mercedes-Benz R-Class vehicle. This makes it the perfect fit for production of the Mullen and Bollinger portfolio of consumer vehicles. The ELMS asset acquisition, and the recent acquisition of the majority ownership of Bollinger Motors, gives Mullen the ability to integrate Bollinger’s vehicle platforms, B1 and B2 along with Mullen’s FIVE and FIVE RS platforms into an already existing and capable high volume manufacturing facility. As a result, this will accelerate launch of the Bollinger B1, B2 retail vehicles by 12 plus months.

 

Manufacturing optimization will include moving the Mullen FIVE EV Crossover production to the Mishawaka Factory from the Tunica, MS facility. Mullen FIVE production is planned to begin production in 2024. Tunica will now become the Commercial Manufacturing Center and capitalize to produce all Mullen and Bollinger Class 1 to 6 commercial vehicles.

 

With the additional Manufacturing capacity, total production volumes are expected to exceed Mullen’s previous business plan projections. The commercial portfolio is expected to increase over 50% with the addition of the ELMS assets and the retail portfolio is expected to more than double with the addition of Bollinger vehicles and the manufacturing capacity of Mishawaka.

 

The Company’s majority ownership acquisition of Bollinger Motors was closed in August 2022 with a combination of stock and cash. The ELMS acquisition will be completed as an all-cash purchase.

 

Highlights of the Acquisition:

Per the Asset Purchase Agreement which can be viewed from the Company’s recent public filings, the ELMS Assets purchased by Mullen were as follows:   

 

•        all Intellectual Property, including, without limitation, the registered intellectual property specifically listed in the Asset Purchase Agreement

·        all inventory including vehicles, finished and unfinished, finished goods, part modules component parts, raw materials, tooling, including but not limited to product specific tooling, all manufacturing data that is required or reasonably helpful for the assembly of the Class 1 Electric commercial delivery vans and Class 3 Commercial Delivery Cab Chassis

·        purchase of real property located in Mishawaka, Indiana, together with all buildings, improvements and fixtures

·        all tangible personal property including equipment, machinery, furniture, supplies, computer hardware, data networks, servers (with data and software), communication equipment, software, discs, and all other data storage media

 

“Mullen’s acquisition of Bollinger was one of the largest transactions of its kind in the EV market. Upon closing the ELMS transaction, the Company will be in a position to strategically lever all its acquired assets to shorten its production path and aggressively expand into the commercial and consumer EV market,” said David Michery, CEO and chairman of Mullen Automotive. "

 

About Mullen

Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.

 

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to whether the closing of the ELMS acquisition will occur and if so, be beneficial to the Company; whether the anticipated manufacturing capability to produce 50,000 vehicles per year will prove reliable; whether Mullen’s cash availability will be sufficient for closing and funding of vehicle launches; whether the platform and plant acquisition will result in the anticipated reduction of the Company’s previously forecast spend; whether utilizing the manufacturing facility in Mishawaka, IN will result in accelerating development of the Bollinger B1, B2 retail vehicles by 12 plus months, or at all;  whether the anticipated manufacturing optimization and forecast total Mullen and Bollinger vehicle production volumes detailed in this Press Release will materialize; whether the production of the Mullen FIVE will commence in 2024;  whether the ELMS acquisition will be completed as an all-cash purchase; whether the Company’s cash on hand and other funding commitments will realize sufficient proceeds to accomplish closing the acquisition and/or the funding of vehicle launches; and whether the Company will be successful with its efforts to lever all its acquired assets to shorten its production path and expand into the commercial and consumer EV markets. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.

 

Contact:

Mullen Automotive, Inc.

+1 (714) 613-1900

www.MullenUSA.com

 

Wire Service Contact:

InvestorWire (IW)

Los Angeles, California

www.InvestorWire.com

212.418.1217 Office

Editor@InvestorWire.com

 

Mullen Automotive, Inc. (OTCQB:MULN) is a featured EV stock on

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New #Stocks and #InvestorIdeas in #Mining, #Retail and #GreenAutomotive; (CSE: $SCM.C) (CSE: $SHOE.C) (Nasdaq: $VEV; TSX: $VMC.TO)

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Vancouver, Kelowna, Delta, BC, October 14, 2022 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces its weekly roundup of stocks to watch in Mining, Retail and Green Automotive. Today’s stocks have been added to our lists of free stock directories in each sector.

 

Read this in full at https://www.investorideas.com/news/2022/main/10141Stocks.asp

 

The newest mining company operates in Canada, while the latest retail company is involved in earth-conscious fashion footwear.

 

The newest green automotive company is a supplier of electric vehicles for both public and commercial enterprise use, including buses, trucks and shuttle buses.

 

New Stocks added to the Mining Stocks List:

Steadright Critical Minerals Inc. (CSE:SCM) is a junior mining exploration company established in 2019 and incorporated in the Province of Ontario. Steadright currently holds an option on its property, specifically in Port Cartier, Gas Bay Region of Quebec Canada, accessible by route 138. Steadright's Quebec project, the RAM Project, is comprised of 4,201 acres.The RAM property is located on a highly prospective geological unit and historically has been under explored for Ni,Co,Cu and precious metals. Steadright also has an option agreement for the B2 Project exploring for Cu, Ag located in the Saguenay-Lac-St-Jean region of Quebec.

 

New Stocks added to the Retail Stocks List:

Grounded People Apparel Inc. (CSE:SHOE) is engaged in the business of fair trade, sustainable and earth-conscious fashion, with an initial focus on the design and production of footwear.

 

New Stocks added to the Green Automotive Stocks List:

Vicinity Motor Corp. (Nasdaq:VEV) (TSX:VMC) is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the Company's strategic partner, for upfitting into next-generation delivery vehicles.

 

The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.

 

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#CriticalMetals #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Reports Drill High-Grades at Wicheeda with 106 metres of 2.53% Total Rare Earth Oxide; @defensemetals

#CriticalMetals #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Reports Drill High-Grades at Wicheeda with 106 metres of 2.53% Total Rare Earth Oxide; @defensemetals

 

Vancouver, British Columbia – October 14, 2022: Investorideas.com Newswire, Mining/Metals/Green Energy Stock news-  Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) announces high-grade Rare Earth Element (“REE”) assay results from one additional core drill hole, totalling 320 metres (m), collared within the northern area of Defense Metals’ 100% owned Wicheeda REE Deposit.

 

Read this news, featuring DEFN in full and see images/tables at https://www.investorideas.com/news/2022/mining/10141DEFN-Wicheeda.asp

 

Infill drill hole WI22-67 (-60^o dip / 197^o azimuth)  was drilled southward within the northern area of the deposit and yielded a broad mixed lithology mineralized intercept comprising dolomite carbonatite and syenite averaging 2.53% total rare earth oxide (“TREO”) over 106 metres (m); including a high-grade zone of 3.42% TREO over 59 m[1] (Figure 1). The assays reported for WI22-67 are partial from surface to a downhole depth of 155 metres. Assay results for the remaining 165 m to end of hole at 320 m are expected in the coming days.

 

Craig Taylor, CEO, and Director of Defense Metals stated: “With the release of this additional drill hole, we continue to establish excellent continuity of mineralization in sectional infill drilling. As we advance the Wicheeda Project we know these kinds of results will contribute significantly to our goal of upgraded resource categories necessary to support a future Preliminary Feasibility Study (PFS).”

 

 

18^th International Rare Earths Conference, Las Vegas, Nevada

 

Defense Metals and many of its directors, management and advisors will be attending the 18^th International Rare Earths Conference on October 17, 2022 to October 19, 2022 in Las Vegas, Nevada. Luisa Moreno, President and Director of the Company will be presenting on the “Wicheeda Deposit: The Next North American REE production”.

 

About the Wicheeda REE Property

The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.

 

The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR[2]. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

 

Methodology and QA/QC

The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.

 

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein. 

 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power markets, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, upgrading the resource categories, completing the PFS, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

 

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[1]The true width of REE mineralization is estimated to be 70-100% of the drilled interval.

[2] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).