Las Vegas, NV – October 31, 2014 – Lithium Corporation (OTCBB: LTUM) (the “Company”, or “Lithco”) is pleased to announce that PATHION Inc. has negotiated an extension of the Asset Purchase Agreement (APA) with our Company. PATHION now has until Jan 17, 2015 to fulfill its obligations under the APA.
PATHION is a privately held, vertically integrated energetic applied materials and advanced battery technology company. Once closed, the APA with PATHION will provide us with capital to continue exploring for value in the basic materials sector with a primary focus on portable energy and energy storage related materials. Additionally, the equity position Lithium Corporation receives in PATHION leverages our company into the world of applied materials and advanced batteries. This APA provides the groundwork for continuing co-operation between the two companies and we believe that Lithium Corporation’s association with PATHION will be mutually beneficial in both the short and long-term.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new battery related resources throughout North America, looking to capitalize on opportunities within the ever expanding Lithium-Ion and next generation battery markets. Lithium Corporation maintains a strategic alliance with Altura Mining, an ASX listed coal producer who recently began production of Iron Ore from its Mt Webber property in Western Australia. Altura is currently searching for off-take contracts for its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
For further information with regard to Lithium Corporation, please contact Tom Lewis at (775) 410-2206 or via email at info@lithiumcorporation.com
About PATHION, Inc.
PATHION is an energetic materials and advanced power device company created to develop and commercialize applied materials and battery products utilizing its proprietary processes and technologies. PATHION has acquired the rights to key advanced materials developed in the process of research and development at Los Alamos National Laboratory (LANL). The company also is a sub-recipient of an ARPA-E grant from the DOE to further develop its fire resistant lithium, a solid-state advanced superionic conductor (AdSIC) material, developed at LANL. PATHION is thus uniquely positioned to provide critical power technology for a broad array of devices that fundamentally change the way they operate and their cost of operation.
For further information regarding PATHION Inc., please contact Dave Hurley at (408) 484-9031 or via email at dhurley@pathion.net
Notice Regarding Forward-Looking Statements
This current report contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to exploring for value in the basic materials sector with a primary focus on portable energy and energy storage related materials, that any equity position Lithium Corporation receives in PATHION will leverage our company into the world of applied materials and advanced batteries, that the APA will provide the groundwork for continuing co-operation between the two companies, or that Lithium Corporation’s association with PATHION will be mutually beneficial in both the short and long-term.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.