BrightRock Gold Corp Announces Strategic Location as Arizona Welcomes Two Industry Leaders in Battery Production
Brightrock Gold Corp. (OTC PINK:BRGC) announces its strategic positioning with the acquisition of 100% interest in the Midnight Owl Mine in Arizona. Located near two major battery production facilities from KOREPOWER and LG Energy Solutions, this dormant lithium property is set to benefit from local industry growth. KOREPOWER’s facility will produce 12 GWh of battery cells, while LGES plans a $1.4 billion investment in a plant expected to yield 11 GWh. Brightrock anticipates increased opportunities as these companies support the revival of the mine.
- Proximity to KOREPOWER and LG Energy Solutions enhances market potential for lithium production.
- KOREPOWER's facility set to produce 12 GWh annually, catering to clean energy needs.
- LG Energy Solutions investing $1.4 billion in a new plant, indicating strong industry growth.
- None.
GURNEE, IL / ACCESSWIRE / March 29, 2022 / Brightrock Gold Corp. (OTC PINK:BRGC) the purchaser of
KOREPOWER located in Buckeye, Arizona approximately 45 miles from our mine continues the construction of their KOREPlex facility. This will be the first US owned lithium-ion battery manufacturing facility and it's right in our backyard.
"The KOREPlex facility will be a sizable one million square feet in size, capable of producing up to 12 gigawatt-hours (GWh) of battery cell production to suffice the clean energy needs of the US. KOREPlex will be able to power around 3.2 million households annually, with KORE Power planning to start the facility's construction by the end of the year, with KOREPlex estimated to commence production in early 2023."
In addition, LG Energy Solutions (373220.KS) (LGES), a supplier for electric car makers Tesla and Lucid, said on Thursday their plans for a 1.4 billion dollar investment in Queen Creek, Arizona approximately 70 miles from our mine. Their plans include the first-ever cylindrical-type battery manufacturing plant in North America :
"Construction on the plant is expected to begin in the second quarter, the South Korean company announced, and mass production will begin in the second half of 2024. Batteries produced at the plant will be supplied to electric vehicle manufacturers. The facility will have the production capacity of 11 gigawatt hours."
Mr. Mac Shahsavar, President of the Company is quoted in saying, "This is an exciting moment for us, a confirmation that our new corporate vision and direction for Brightrock Gold Corp. is gleaming with potential. Two industry giants in battery production within a short driving distance of our lithium target. Our doors will be open for both companies as we progress the revival of the historic Midnight Owl Mine."
CONTACT:
BrightRock Gold Corporation
Phone 866-600-5444
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/BRGC/disclosure
SOURCE: BrightRock Gold Corp.
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