Day: September 21, 2016

Alain Lambert, Chairman and CEO of Cyprium commented: “I’m glad to report that 96.8% of the principal amount of debentures voted at the meeting were in favour of all matters presented. This sends a clear message of support for the company’s business plan. Our objective remains to finalize in the next two weeks further extensions of the maturity date of various loans so that at least 90% of the company’s loans will mature in 2019. Achieving this objective will pave the way for greater access to the equity market as well as possible corporate transactions to ensure the development of the Potosi mine and the La Chinche exploration property.”

Tim Oliver, President of Alset commented: “After we announced the initial private placement we took another look at our work programs. We’ve now refined our plans and have revised the costs for the screening and resource definition drilling downwards. A combination of low drilling costs and the decision to limit resource definition drilling to the three most attractive salars, should allow a lower cost program than we initially planned for. We also discovered some valuable new information regarding the extensive inventory of sediment samples from prior investigations, and the history of commercial salt production from pumped brine in three of the seven salars. If our programs are successful, we hope to come back to the market for another raise at a higher price than the current private placement.”