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Aligning with the Canadian government's support for a localized battery supply chain, G6 harnesses Sussex Strategies' expertise for faster, efficient project implementation.
FOR IMMEDIATE RELEASE
TORONTO, April 15th 2023 G6 Energy Corp ("G6") is pleased to announce its engagement with Sussex Strategies to enhance its relationship with the Canadian government as it prepares to restart the Kearney Mine and further midstream technology analysis. This move aligns with the government's commitment to fast-tracking the development of the localized supply chain for critical minerals and battery manufacturing, which encompasses a plethora of incentives, loans, grants, and rebates.
Sussex Strategies, a reputable government relations firm with over two decades of experience, will support G6's communication across various levels of local, provincial, and federal stakeholders. Sussex's exceptional service and unparalleled understanding of municipal, provincial, and federal law-making processes, combined with their proven track record in achieving results, make them an invaluable ally in this strategic initiative.
The objective of this engagement is to explore various options for government financial or other forms of support, which will facilitate the swift restart of the Kearney Mine and foster the planned development of midstream processing operations.
Government assistance is particularly pivotal in addressing commercialization gaps and de-risking project economics. The goal is to unlock the full potential of this priority deposit, swiftly capture the opportunity for Canada to secure a strategic position in the emerging, net-zero global economy, and create up to 350 new jobs by restarting the mine and building the midstream cSPG processing plant.
This project is also strategically important for Canada. It holds potential as a catalyst for Canadian leadership in the battery supply chain, showcasing Canada's unique strengths in critical minerals, clean electricity, and battery recycling leadership. G6's plans to invest approximately $320 million to create a sustainable mining and midstream processing operation will further enhance Canada's Environment and Climate Change mandate.
According to Clean Energy Canada, "If Canada plays its cards right, it has the potential to build a domestic EV battery supply chain that could support up to 250,000 jobs by 2030 and add $48 billion to the Canadian economy annually."
This initiative is consistent with the Canadian government's Critical Minerals Strategy, which has set its sights on building a greener, more secure, and more competitive economy. By fostering a resilient battery supply chain on Canadian soil, the country can ensure more in-country value is captured from Canada's raw materials, further aligning with the government's key objectives.
"Government involvement will be a catalyst to attract high-quality investors for this specific project, as well as others to follow. This will improve the likelihood of success for Canadian leadership throughout the supply chain," said Peter McCague, Chairman of G6 Energy Corp.
With additional financial support, G6 Energy can restart production by Q1 2025, ensuring Canada's position on the global stage. This initiative also aligns with the “Buy North American” provisions in the US Inflation Reduction Act, setting Canada up as a preferred supplier of battery minerals, materials, and components to the continent.
In conclusion, this project is not just about the restart of Kearney Mine or the establishment of midstream operations. It’s about building a future where Canada is at the forefront of a new, cleaner, and more sustainable global economy, creating new jobs and opportunities for its citizens while making significant strides towards its environmental goals.
G6 Energy Corp is a Toronto-based battery material developer and supplier leading the global shift toward sustainable energy. The company focuses on the production of materials critical to the rapidly expanding lithium-ion battery market, with a distinctive mine-to-battery strategy. G6 wholly owns a natural graphite mine, the Kearney Mine, strategically located in a tier-1 jurisdiction less than 300km from Toronto, Ontario. This mine, one of the world's largest confirmed graphite deposits, provides a reliable and secure non-China source of graphite.
Capitalizing on this asset, G6 plans a rapid restart and staged expansion, positioning itself as the fastest path to production graphite mine in North America. In line with its mine-to-battery strategy, G6 is actively exploring midstream processing options for its materials, strengthening its commitment to sustainability and green energy. By owning and controlling the entire process from mining to battery manufacturing, G6 aims to deliver unrivaled reliability, quality, and sustainability in the battery materials market.
For media inquiries, please contact:
IR@gsixenergy.com
Note: This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any country, province, state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Information
The information contained herein contains "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Forward-looking statements or forward-looking information relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements" or "forward-looking information". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to the success or failure of the partnerships between G6 and others and to deliver the expected results, including the creation of a global chain of supply for graphite materials, risks related to holding shares of a start-up and related to the lack of liquidity thereof, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with the industry; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in development activities or the completion of feasibility studies; the uncertainty of profitability; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of a scoping and feasibility studies, and the possibility that future results will not be consistent with expectations; risks related to commodity prices fluctuations; and other risks and uncertainties related to prospects, properties and business. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and G6 does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from G6 expectations or projections.