Sustainable Projects Group Signs Letter of Intent with a Leading Midstream Water Management Company
NAPLES, Fla., June 22, 2023 /PRNewswire/ --Sustainable Projects Group Inc. (OTC US: SPGX) ("Sustainable Projects Group" or the "Company"), a green technology mining company focused on sustainable lithium projects in the United States, today announced the signing of a nonbinding letter of intent (the "Letter of Intent") with a leading midstream water management company (together with Sustainable Projects Group, the "JV Parties") to form a joint venture company (the "Joint Venture Company").
- NAPLES, Fla., June 22, 2023 /PRNewswire/ --Sustainable Projects Group Inc. (OTC US: SPGX) ("Sustainable Projects Group" or the "Company"), a green technology mining company focused on sustainable lithium projects in the United States, today announced the signing of a nonbinding letter of intent (the "Letter of Intent") with a leading midstream water management company (together with Sustainable Projects Group, the "JV Parties") to form a joint venture company (the "Joint Venture Company").
- The Letter of Intent provides that the JV Parties intend to enter into a definitive joint venture agreement by a target date of July 6, 2023.
- Utilizing the Company's proprietary technology, the JV Parties intend, through the Joint Venture Company, to establish three manufacturing facilities in the United States with an annual combined capacity of 3,800 metric tons of lithium carbonate and 39 million barrels of water for beneficial reuse.
- The JV Parties plan for the facilities to become operational in 2024 through 2026.