New York (United States), Perth (Australia), July 27, 2023 (GLOBE NEWSWIRE) --
Lifezone Metals Limited ('Lifezone Metals' or the 'Company') (NYSE: LZM), a
modern metals company creating value across the battery metals supply chain from
resource to metals production and recycling, is pleased to announce the
acquisition of The Simulus Group Pty Limited ('Simulus' or 'Simulus Group') has
concluded.
Lifezone Metals has a long-standing commercial relationship with the Simulus
Group - a Perth-based hydrometallurgy ('hydromet') laboratory and engineering
company - that was Lifezone Metals' metallurgical laboratory of choice for
years, having supported a number of studies and test work on our Kabanga and
Sedibelo projects. We consider the acquisition to be the logical next step,
allowing us to shorten testing times, avoiding regular delays when using third
party laboratories, and controlling external costs.
Founder and Chair of Lifezone Metals, Keith Liddell, said: 'We believe that
Simulus Group is one of the best hydrometallurgical laboratories in the world
and acquired the company to incorporate their hydromet technology, lab
capabilities, and technical excellence into our business as we grow to become a
global metals company. At a time when the world is racing to tackle the climate
crisis, this technology will provide a responsible solution to delivering the
battery metals needed to support decarbonisation of the global economy.'
Over the coming months, we will be planning for and integrating the Simulus
facilities and teams into the Operating division of Lifezone Metals under Chief
Operating Officer, Gerick Mouton. Once integrated, the aim will be to streamline
the test work and further development of hydromet, bringing the technology
solution closer to commercialisation - and in turn reducing the emissions
produced as a result of processing and recycling of battery metals.
Lifezone Metals has a solid pipeline of projects, including the Kabanga nickel
project, autocatalyst recycling and further expansion of the portfolio as it
grows, which will be supported by the lab and engineering capabilities of
Simulus and may in time require an expansion of the current facilities.
The acquisition of Simulus is a key piece of Lifezone Metals' long-term strategy
and is an enabler to our ultimate mission: Developing a supply chain solution
for clean metals.
If you would like to sign up for Lifezone Metals news alerts, please register
here (https://ir.lifezonemetals.com/resources/investor-email-
alerts/default.aspx).
About Lifezone Metals
Lifezone Metals (NYSE: LZM) is a modern metals company creating value across the
battery metals supply chain from resource to metals production and recycling.
Our mission is to provide commercial access to proprietary technology and
cleaner metals production through a scalable platform underpinned by our
tailored hydromet technology. This technology has the potential to be a cleaner
and lower cost alternative to smelting, allowing us to responsibly and cost-
effectively provide cleaner metals.
By pairing the Kabanga Project in Tanzania, which we believe is one of the
largest and highest-grade undeveloped nickel sulphide deposits in the world,
with our proprietary Hydromet Technology, we will work to unlock the value of a
key new source of supply to global battery metals markets. We have a long-
standing partnership with BHP on the Kabanga Project, with BHP having invested
USD100 million, as we work to empower Tanzania to achieve full value creation
in-country and become the next premier source of nickel.
www.lifezonemetals.com (https://www.lifezonemetals.com)
Forward-Looking Statements
Certain statements made herein are not historical facts but may be considered
'forward-looking statements' within the meaning of Section 27A of the Securities
Act of 1933, as amended (the 'Securities Act'), Section 21E of the Securities
Exchange Act of 1934, as amended and the 'safe harbor' provisions under the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
generally are accompanied by words such as 'believe,' 'may,' 'will,' 'estimate,'
'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,'
'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook' or the negatives of
these terms or variations of them or similar terminology or expressions that
predict or indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but are not
limited to, statements regarding future events, the business combination between
GoGreen Investments Corporation ('GoGreen') and Lifezone Holdings Limited
('LHL') that formed Lifezone Metals, the estimated or anticipated future results
of Lifezone Metals, future opportunities for Lifezone Metals, including the
efficacy of Lifezone Metals' hydromet technology ('Hydromet Technology') and the
development of, and processing of mineral resources at, the Kabanga Project, and
other statements that are not historical facts.
These statements are based on the current expectations of Lifezone Metals'
management and are not predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and will differ
from assumptions. Many actual events and circumstances are beyond the control of
Lifezone Metals. These statements are subject to a number of risks and
uncertainties regarding Lifezone Metals' business, and actual results may differ
materially. These risks and uncertainties include, but are not limited to:
general economic, political and business conditions, including but not limited
to the economic and operational disruptions and other effects of the COVID-19
pandemic; the outcome of any legal proceedings that may be instituted against
the Lifezone Metals in connection with the business combination; failure to
realize the anticipated benefits of the business combination, including
difficulty in integrating the businesses of LHL and GoGreen; the risks related
to the rollout of Lifezone Metals' business, the efficacy of the Hydromet
Technology, and the timing of expected business milestones; Lifezone Metals'
development of, and processing of mineral resources at, the Kabanga Project; the
effects of competition on Lifezone Metals' business; the ability of Lifezone
Metals to execute its growth strategy, manage growth profitably and retain its
key employees; the ability of Lifezone Metals to maintain the listing of its
securities on a U.S. national securities exchange; costs related to the business
combination; our ability to successfully integrate Simulus into our business;
and other risks that will be detailed from time to time in filings with the U.S.
Securities and Exchange Commission. Additional information pertaining to the
acquisition of the Simulus Group, including the risks related thereto, is set
forth in the section of Lifezone Metals' Registration Statement on Form F-4
(File No. 333-271300) filed with the SEC on April 17, 2023 titled 'Risk Factors
- There can be no assurance that we will complete the Simulus Acquisition.
Failure to complete the Simulus Acquisition, or to successfully integrate SGPL
into our business upon completion of the Simulus Acquisition, may adversely
affect our business and operations. If the Simulus Acquisition is completed, in
addition to the cash consideration, we will be required to issue Lifezone
Metals' Ordinary Shares to the shareholders of SGPL, which will result in
dilution to Lifezone Metals' existing shareholders,' which is incorporated
herein by reference. The foregoing list of risk factors is not exhaustive. There
may be additional risks that Lifezone Metals presently does not know or that
Lifezone Metals currently believes are immaterial that could also cause actual
results to differ from those contained in forward-looking statements. In
addition, forward-looking statements provide Lifezone Metals' expectations,
plans or forecasts of future events and views as of the date of this
communication. Lifezone Metals anticipates that subsequent events and
developments will cause Lifezone Metals' assessments to change. However, while
Lifezone Metals may elect to update these forward-looking statements in the
future, Lifezone Metals specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as representing Lifezone
Metals' assessments as of any date subsequent to the date of this communication.
Accordingly, undue reliance should not be placed upon the forward-looking
statements. Nothing herein should be regarded as a representation by any person
that the forward-looking statements set forth herein will be achieved or that
any of the contemplated results in such forward-looking statements will be
achieved. You should not place undue reliance on forward-looking statements in
this communication, which speak only as of the date they are made and are
qualified in their entirety by reference to the cautionary statements herein.
Certain statements made herein include references to 'clean' or 'green' metals,
methods of production of such metals, energy or the future in general. Such
references relate to environmental benefits such as lower green-house gas
('GHG') emissions and energy consumption involved in the production of metals
using the Hydromet Technology relative to the use of traditional methods of
production and the use of metals such as nickel in the batteries used in
electric vehicles. While studies by third parties (commissioned by Lifezone
Metals) have shown that the Hydromet Technology, under certain conditions,
results in lower GHG emissions and lower consumption of electricity compared to
smelting with respect to refining platinum group metals, no active refinery
currently licenses Lifezone Metals' Hydromet Technology. Accordingly, Lifezone
Metals' Hydromet Technology and the resultant metals may not achieve the
environmental benefits to the extent Lifezone Metals expects or at all. Any
overstatement of the environmental benefits in this regard may have adverse
implications for Lifezone Metals and its stakeholders.
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