Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – January 19, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” “PTM” or the “Firm“) and subsidiary Lion Battery Applied sciences Inc. (“Lion”) experiences that the U.S. Patent and Trademark Workplace has issued a second patent to Florida Worldwide College (“FIU”) associated to platinum group metals (“PGMs”) being utilized in lithium batteries. Beneath a sponsored analysis settlement (“SRA”), Lion has unique rights to all expertise being developed by FIU with Lion funding, together with granted patents.
The brand new patent, the second granted to FIU referring to Lion’s analysis, was issued on December 8, 2020 entitled “Battery Cathodes for Improved Stability” with patent quantity US 10,862,103 B2. The patent covers a preparation methodology utilizing PGM catalysts in carbon supplies to be used as cathodes in lithium batteries, together with lithium-ion, lithium-air, and lithium-sulfur batteries. The brand new patent broadens safety for US patent 10,734,636 B2 issued to FIU on August 4, 2020 protecting the composition of carbon cathodes containing PGMs. Each patents are assigned to FIU and licensed by Lion.
Along with the above new patent, an extra provisional patent utility has additionally been filed for particular utility of PGMs in most lithium batteries, together with present lithium ion chemistries.
On account of the development in PGM battery analysis work performed by FIU and Lion, the Firm and Anglo American Platinum Restricted, Lion’s co-founder, have every authorised further funding in Lion. After this additional funding, the Firm will personal a 53.7% curiosity in Lion.
Dr. Bilal El Zahab, the venture chief at FIU commented, “We’re happy to obtain the second, broader methodology patent for our analysis work and we’re enthusiastic about our new improvements having potential utility to most present, state-of-the-art lithium ion battery chemistry available on the market.”
R. Michael Jones CEO of Platinum Group stated, “PGMs have many purposes in inexperienced applied sciences, together with clear emissions tools for inner combustion engines, hydrogen gasoline cell purposes for energy technology in vehicles and vehicles, and now the potential to enhance the efficiency of battery electrical automobiles. It is sensible that PGMs can play an essential function in modern power expertise as we search extra environment friendly power reactions. That is what the PGMs palladium, platinum and rhodium do – they’re highly effective catalysts that speed up chemical reactions. The potential of PGMs in batteries is apparent; it stares at us from the periodic desk.”
Lion is a personal firm shaped collectively in 2019 by Anglo American Platinum and the Firm to speed up the event of next-generation battery expertise utilizing platinum and palladium. Beneath the SRA, analysis and patent purposes are being funded in battery improvements using platinum and palladium to unlock the potential of upper energy to weight ratios in new technology lithium air and lithium sulfur battery chemistries. This work could now doubtlessly have utility to most industrial lithium batteries. Dr. Bilal El-Zahab, with prior battery analysis and growth expertise and post-doctoral work accomplished on the Massachusetts Institute of Expertise, is the pinnacle of the Lion battery analysis workforce.
About Platinum Group Metals Ltd.
Platinum Group Metals Ltd. is the operator of the Waterberg Venture, a 19.5 million ounce confirmed and possible reserve, bulk underground palladium, platinum and gold deposit positioned in South Africa. The Waterberg Venture was found by PTM and is being collectively developed with Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gasoline and Metals Nationwide Company, Mnombo Wethu Consultants (Pty) Ltd. and Hanwa Co. Ltd.
Platinum Group Metals is investing in power effectivity innovation the place PGMs can play an essential function. As the bulk proprietor of the Waterberg Venture, the Firm views the modern use of PGMs in new expertise as a chance.
For additional data contact:
R. Michael Jones, President
or Kris Begic, VP, Company Improvement
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
The Toronto Inventory Change and the NYSE American haven’t reviewed and don’t settle for duty for the accuracy or adequacy of this information launch, which has been ready by administration.
The latest COVID-19 pandemic and associated measures taken by authorities create uncertainty and have had, and will proceed to have, an hostile affect on many elements of the Firm’s enterprise, together with worker well being, workforce productiveness and availability, journey restrictions, contractor availability, provide availability, the Firm’s potential to take care of its controls and procedures relating to monetary and disclosure issues and the supply of capital and insurance coverage and the prices thereof, a few of which, individually or when aggregated with different impacts, could also be materials to the Firm.
This press launch accommodates forward-looking data inside the which means of Canadian securities legal guidelines and forward-looking statements inside the which means of U.S. securities legal guidelines (collectively “forward-looking statements”). Ahead-looking statements are usually recognized by phrases corresponding to: imagine, count on, anticipate, intend, estimate, plans, postulate and comparable expressions, or are these, which, by their nature, seek advice from future occasions. All statements that aren’t statements of historic truth are forward-looking statements. Ahead-looking statements on this press launch embody, however should not restricted to, statements relating to analysis improvements having potential utility to most present, state-of-the-art lithium ion battery chemistry available on the market, the potential of PGMs in batteries to enhance the efficiency of battery electrical automobiles, the event of the Waterberg Venture, the marketplace for PGMs, Lion securing future patent rights and the acceleration of developments of subsequent technology battery expertise. Though the Firm believes any forward-looking statements on this press launch are cheap, it can provide no assurance that the expectations and assumptions in such statements will show to be right.
The Firm cautions traders that any forward-looking statements by the Firm should not ensures of future outcomes or efficiency and that precise outcomes could differ materially from these in forward-looking statements on account of varied components, together with potential hostile impacts due the worldwide outbreak of COVID-19 (as described above), the Firm’s incapacity to generate enough money circulation or increase enough further capital to make fee on its indebtedness, and to adjust to the phrases of such indebtedness; further financing necessities; the US $20 million senior secured facility with the Sprott Non-public Useful resource Lending II (Collector), LP (“Sprott”) entered into August 21, 2019 (the “2019 Sprott Facility”) is, and any new indebtedness could also be, secured and the Firm has pledged its shares of PTM RSA, and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, below the 2019 Sprott Facility, which doubtlessly may end result within the lack of the Firm’s curiosity in PTM RSA and the Waterberg Venture within the occasion of a default below the 2019 Sprott Facility or any new secured indebtedness; the Firm’s historical past of losses and unfavourable money circulation; the Firm’s potential to proceed as a going concern; the Firm’s properties is probably not introduced right into a state of business manufacturing; uncertainty of estimated manufacturing, growth plans and value estimates for the Waterberg Venture; discrepancies between precise and estimated mineral reserves and mineral sources, between precise and estimated growth and working prices, between precise and estimated metallurgical recoveries and between estimated and precise manufacturing; fluctuations within the relative values of the U.S. Greenback, the Rand and the Canadian Greenback; volatility in metals costs; the uncertainty of different funding sources for Waterberg JV Co.; the Firm could turn into topic to the U.S. Funding Firm Act; the failure of the Firm or the opposite shareholders to fund their professional rata share of funding obligations for the Waterberg Venture; any disputes or disagreements with the opposite shareholders of Waterberg JV Co. or Mnombo; the power of the Firm to retain its key administration staff and expert and skilled personnel; conflicts of curiosity; litigation or different administrative proceedings introduced in opposition to the Firm; precise or alleged breaches of governance processes or cases of fraud, bribery or corruption; exploration, growth and mining dangers and the inherently harmful nature of the mining business, and the chance of insufficient insurance coverage or incapacity to acquire insurance coverage to cowl these dangers and different dangers and uncertainties; property and mineral title dangers together with faulty title to mineral claims or property; modifications in nationwide and native authorities laws, taxation, controls, rules and political or financial developments in Canada and South Africa; tools shortages and the power of the Firm to amass obligatory entry rights and infrastructure for its mineral properties; environmental rules and the power to acquire and preserve obligatory permits, together with environmental authorizations and water use licences; excessive competitors within the mineral exploration business; delays in acquiring, or a failure to acquire, permits obligatory for present or future operations or failures to adjust to the phrases of such permits; dangers of doing enterprise in South Africa, together with however not restricted to, labour, financial and political instability and potential modifications to and failures to adjust to laws; the Firm’s widespread shares could also be delisted from the NYSE American or the Toronto Inventory Change if it can’t preserve compliance with the relevant itemizing necessities; and different danger components described within the Firm’s most up-to-date Type 20-F annual report, annual data kind and different filings with the united statesSecurities and Change Fee (“SEC”) and Canadian securities regulators, which can be seen at www.sec.gov and www.sedar.com, respectively. Proposed modifications within the mineral legislation in South Africa if carried out as proposed would have a fabric hostile impact on the Firm’s enterprise and potential curiosity in tasks. Any forward-looking assertion speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking assertion, whether or not on account of new data, future occasions or outcomes or in any other case.
Estimates of mineralization and different technical data referred to or included herein have been ready in accordance with NI 43-101. The definitions of confirmed and possible reserves utilized in NI 43-101 differ from the definitions in SEC Trade Information 7. Beneath SEC Trade Information 7 requirements, mineralization is probably not labeled as a “reserve” until the mineralization might be economically and legally extracted or produced on the time the “reserve” dedication is made. In consequence, the reserves reported by the Firm in accordance with NI 43-101 could not qualify as “reserves” below SEC Trade Information 7. As well as, the phrases “mineral useful resource”, “measured mineral useful resource”, “indicated mineral useful resource” and “inferred mineral useful resource” are outlined in and required to be disclosed by NI 43-101; nonetheless, these phrases should not outlined phrases below SEC Trade Information 7 and traditionally haven’t been permitted for use in experiences and registration statements filed with the SEC pursuant to SEC Trade Information 7. Mineral sources that aren’t mineral reserves don’t have demonstrated financial viability. Traders are cautioned to not assume that any half or all the mineral deposits in these classes will ever be transformed into reserves. Specifically, “inferred mineral sources” have a large amount of uncertainty as to their existence and nice uncertainty as to their financial and authorized feasibility. It can’t be assumed that each one or any a part of an “inferred mineral useful resource” will ever be upgraded to the next class. Disclosure of “contained ounces” in a useful resource is permitted disclosure below NI 43-101; nonetheless, SEC Trade Information 7 usually solely permits issuers to report mineralization that doesn’t represent “reserves” by SEC Trade Information 7 requirements as in-place tonnage and grade regardless of unit measures. Accordingly, descriptions of the Firm’s mineral deposits on this press launch is probably not akin to comparable data made public by U.S. corporations topic to the reporting and disclosure necessities of SEC Trade Information 7.
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