Energizer Resources Inc. (TSX-V:EGZ - News)(OTC.BB:ENZR - News)(Frankfurt:YE5 - News) ("Energizer"
or the "Company") announces that it has submitted an application to
list its common shares on The Toronto Stock Exchange (the "TSX"),
Canada's premier stock exchange.
The Company has made an application to graduate to the TSX from its
current listing on the TSX Venture Exchange. The Company also trades on the Over-The-Counter
Bulletin Board and the Frankfurt Exchange.
Energizer meets TSX Minimum Listing Requirements
The application is being made as the Company now satisfies the TSX's
minimum listing requirements, including the working capital, financial
resources and property requirements, which were achieved with the recently
completed non-brokered private placement of U.S.$13,921,495 and the filing of
a National Instrument 43-101 ("NI 43-101") compliant resource
estimate of 49.5 million tonnes at an average grade
of 0.693% vanadium pentoxide ("V2O5") and
an inferred resource of 9.7 million tonnes at an
average grade of 0.632% V2O5, respectively.
Julie Lee Harrs, President and Chief
Operating Officer of the Company, said, "A listing on the TSX is a
tremendous opportunity for the Company to have exposure to a broader investor
base. As the pre-eminent global stock exchange for international resource
companies, the TSX will provide the Company with access to a wider range of
institutional investors."
With continued evidence in the marketplace of commercial applications
of vanadium-based battery technologies, such as vanadium redox
batteries, a great opportunity exists for vanadium producers who can provide
the necessary high purity vanadium. The Company's Green Giant vanadium
project is being positioned to meet the new anticipated demand for high
purity vanadium, as well as the anticipated 7% annual growth in demand for
vanadium from the steel industry.
"With a NI 43-101 compliant resource and the recently completed
private placement of almost U.S.$14 million, we feel this is the right time
to move to the senior exchange to position the Company so that we can
aggressively more forward with the development of the project" said Ms.
Lee Harrs.
The decision of the TSX regarding the Company's listing application is
expected within 60 days.
Please visit our website at www.energizerresources.com
to learn more about the Green Giant vanadium project and to read the latest
developments in vanadium news.
About Vanadium
Vanadium is well established as a strategic metal that strengthens and
hardens alloys like steel and is positioned to play a significant role in
emerging battery technologies such as batteries for electric cars and for
large-scale energy storage. While there are some opportunities for
substitution in steel production, the same is not true for other markets,
including the emerging energy (battery) storage markets, the military and
particularly in the aerospace industry, where vanadium is irreplaceable.
About the Green Giant Vanadium Project
The Green Giant vanadium project, located in Madagascar, is 100% owned
by Energizer. The Company has a NI 43-101 compliant indicated resource of
49.5 million tonnes at an average grade of 0.693%
vanadium pentoxide ("V2O5") containing
756.3 million pounds of V2O5 and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V2O5 containing
134.5 million pounds of V2O5. With this resource estimate, the Green Giant
deposit currently ranks as one of the largest known vanadium deposit in the
world, with only 75% of the 21-kilometre (18 mile) stratigraphic
trend of vanadium remaining open for drilling.
About Energizer Resources
Energizer Resources Inc. is a mineral exploration and development
company based in Toronto, Canada. The Company's common shares are traded on
the TSX Venture Exchange under the symbol EGZ, on the Over-The-Counter
Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the
symbol YE5.
For more information, please visit our website at www.energizerresources.com.
Cautionary Statement: The above resource estimates were calculated in
accordance with National Instrument 43-101 as required by Canadian securities
regulatory authorities. For United States reporting purposes, Industry Guide
7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of
the SEC, applies different standards in order to classify mineralization as a
reserve. Among other things, the terms "measured",
"indicated" and "inferred" mineral resources are required
pursuant to National Instrument 43-101, the U.S. Securities and Exchange
Commission does not recognize such terms. Canadian standards differ
significantly from the requirements of the U.S. Securities and Exchange
Commission, and mineral resource information contained herein is not
comparable to similar information regarding mineral reserves disclosed in
accordance with the requirements of the U.S. Securities and Exchange
Commission.
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. This mineral resource estimate includes
inferred resources that are normally considered too speculative geologically
to have economic considerations applied to them that would enable them to be
categorized as mineral reserves. There is also no certainty that the inferred
mineral resource will be converted to the measured and indicated mineral
resource categories through further drilling, or into a mineral reserve once
economic considerations are applied.
U.S. investors should understand that "inferred" mineral
resources have a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. In addition,
investors are cautioned not to assume that any part or all of the Company's
mineral resources constitute or will be converted into reserves.
Safe Harbour Statement: The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of this
press release issued by the Company. This press release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially from
expectations and projections set out herein.
Forward-looking statements include, receipt of regulatory approval,
statements on the proposed use of proceeds; completion of financing on terms
proposed; the ability to raise additional funds as required; the development
potential and timetable of the Company's properties and minerals; the current
and future price of minerals the Company explores; the estimated size of
mineral deposits on the Company's properties; the realization of those
mineral deposit estimates; the timing and amount of estimated future
exploration, development and production; costs of future exploration,
development and production activities; success of exploration activities;
government regulatory matters; discussion of political and environmental
risks.
Forward-looking statements are based on the opinions and estimates of
management of the Company. Forward-looking statements are subject to known
and unknown risks that may cause actual results to be materially different
from stated opinions and estimates of management. Some of the Company's more
material risks are: availability and timing of external financing; unexpected
events and delays during exploration; receipt of government and stock
exchange approvals; results of current exploration activities; future price
of minerals; political risks in the locations of the Company's properties;
appreciation/depreciation of foreign currencies relative to the United States
Dollar (the Company's functional currency) and other risks inherent in the
mining and exploration industry.
While Company's management has attempted to determine the factors that
could cause actual results to differ materially from estimated results
contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated. The Company provides no assurance
that such forward-looking statements will prove accurate or not materially
different than projected. Therefore readers of this and other press releases
issued by the Company should not place unreasonable reliance on stated
forward-looking statements.
This press release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the United States.
The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold within
the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such
registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as such term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Energizer Resources Inc.
Brent Nykoliation
Vice President of Business Development
Toll Free: 800.818.5442 or 416.364.4911
bnykoliation@energizerresources.com
Energizer Resources Inc.
Julie Lee Harrs
President and COO
Toll Free: 800.818.5442 or 416.364.4911
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