The Prospector News

Western Lithium Announces Orion Mine Finance As New 19.9% Strategic Investor

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article







Western Lithium USA Corporation (TSX:WLC) (OTCQX:WLCDF) is pleased to announce that Orion Mine Finance Fund I has become a strategic 19.9% shareholder of the Company. Orion Mine Finance is a $1.14 billion investment fund (as of June 30, 2013) focused on providing financing solutions for the development, construction, expansion or acquisition of mining projects. In addition to their equity interest, Orion Mine Finance holds a royalty with Western Lithium.

“We have a long term investor with Orion Mine Finance, who recognizes our prospects to commercialize our hectatone(TM) organoclay and lithium businesses based on the growth of directional drilling technology and the adoption of electrified automobiles using lithium ion batteries,” said Jay Chmelauskas, President and CEO. “In addition, Orion Mine Finance’s equity investment is aligned with stakeholders to see Western Lithium achieve production status in order to realize the value of their revenue royalty, also with the Company.”


The investment by Orion Mine Finance completes the terms of the Sales and Voting agreement between Concordia Resource Corp. and Western Lithium, whereby Concordia would dispose of their interest in Western Lithium to certain strategic investors approved by Western Lithium. Other investors that purchased shares from Concordia include insiders of Western Lithium who purchased approximately 4% of the Company.


Orion Mine Finance provides flexible financing solutions to mining companies in the precious and base metals sectors for the purposes of developing, constructing, expanding, or acquiring mining projects. Orion Mine Finance has approximately $1.14 billion under management (as of June 30, 2013), dedicated exclusively to the mine finance business. Orion Mine Finance Fund I (formerly known as RK Mine Finance II LP) was launched in 2012 and is one of the world’s leading mining sector-focused investment funds. Orion Mine Finance operates across the global metals industry with offices in New York, Denver, Sydney and Bermuda. Investors in Orion Mine Finance include college endowments, foundations, family offices, pensions and other institutional investors.


Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, Hectatone(TM) and potentially other organoclays for the oil and gas industry, and in particular, to support the growth of high pressure high temperature, deep directional drilling applications. The Company is also developing its Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.

Posted September 24, 2013

Share this news article


Fortuna Reports First Quarter 2021 Financial Results

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reported record... READ MORE

May 10, 2021

McEwen Mining Reports Upbeat Exploration & Delineation Results

Including true width intervals of 6.08 g/t Au over 25.7 m at Stoc... READ MORE

May 10, 2021

Imperial Reports First Quarter 2021 Financial Results

Imperial Metals Corporation (TSX:III) reports financial results ... READ MORE

May 10, 2021

McEwen Mining: Q1 2021 Results

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX)  reported its first qu... READ MORE

May 10, 2021

Cameco reports first quarter results, Cigar Lake restart and the continued execution of strategy to support global clean-air transition

Cameco (TSX: CCO) (NYSE: CCJ) reported its consolidated financial... READ MORE

May 7, 2021

Copyright 2021 The Prospector News