SOURCE: Mammoth Energy Group Inc.
NEW YORK, NY--(Marketwire - Jul 25, 2012) - Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced today that Company President William Lieberman is leaving next week for Canada for the purpose of negotiating lithium off take and joint venture agreements.
William Lieberman, President of Mammoth, stated, "Our trading activity correlates with an equity capital raise with an institutional fund where the Company raised $220,000 USD for the purchase of MMTE's lithium assets a year ago. The Company believes that the assets have increased five times in value. In contrast to other companies that claim to be in the lithium sector yet do not possess lithium assets, MMTE actually has titles and deeds for its assets which are available for verification through the Chilean Mining registries." He added. "Investors from JPMorgan Chase & Co. to BlackRock Inc. are trying to create revenue from the exploding popularity of iPads and increasing sales of hybrid cars by investing in producers of lithium for batteries," said Lieberman.
MMTE believes that the market is definitely moving forward for the lithium asset seller and the Company's focus is on getting the highest price for its lithium assets. MMTE is in the lithium business to implement the most lucrative arrangements for increasing shareholder value. It is fortunate for us that lithium prices are escalating so rapidly while worldwide supplies are so critically short.
Additionally, the Company is in the final stages of hiring South American, Chilean based management including a new President who will be able to implement many of the strategic goals for the Company.
Mammoth Energy Group's Compania Lithium Investments Limitada has already acquired an initial thirteen lithium concessions for a total of 8649 acres (3500 Hectares) in the southern section of the Salar de Maricunga, seven concessions for a total of 4695 acres (1900 hectares) in the Salar de Pujsa, 2471 acres (1000 hectares) in the Salar del Laco for a total of over 28,000 combined acres on seven different properties throughout Chile. Compania Lithium Investments Limitada was created to acquire, develop and explore lithium and mining assets in Chile on behalf of Mammoth Energy Group Inc.
About Mammoth Energy Group Inc. (PINKSHEETS: MMTE) www.mammoth-energy.com
Mammoth Energy Group Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy's goal is to become an important partner as the world's energy paradigm begins to change throughout the next decade and beyond.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.