CYPRESS DEVELOPMENT TO CHANGE NAME TO CENTURY LITHIUM CORP

Rhea-AI Summary

Cypress Development Corp. is set to change its name to Century Lithium Corp. following the approval from its Board of Directors. This change includes a new ticker symbol on the TSX Venture Exchange, with an announcement on the specific date forthcoming. Cypress focuses on advancing its Clayton Valley Lithium Project in Nevada, aiming to become a domestic lithium producer for the electric vehicle and battery storage market. The name change is subject to TSXV approval and reflects the company's commitment to the lithium industry.

Positive

• Name change to Century Lithium Corp. aligns company branding with its lithium focus.
• Ongoing development of Clayton Valley Lithium Project demonstrates commitment to domestic lithium production.

Negative

• None.

                                                                                                                        TSXV: CYP | OTCQX: CYDVF

VANCOUVER, BC, Jan. 24, 2023 /PRNewswire/ - Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") announces that the Board of Directors has approved a name change of the Company from Cypress Development Corp. to Century Lithium Corp.

The Company will also change the ticker symbol upon which it trades on the TSX Venture Exchange ("TSXV").  The Company will issue a further news release announcing the date that trading under the new name, symbol and CUSIP number will commence.  The name change remains subject to TSXV approval.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cypress-development-to-change-name-to-century-lithium-corp-301729170.html

SOURCE Cypress Development Corp.

FAQ

Why is Cypress Development changing its name to Century Lithium Corp?

Cypress Development Corp. is changing its name to reflect its focus on lithium production.

When will the name change to Century Lithium Corp take effect?

The exact date for the name change will be announced in a future news release following TSXV approval.

What is the current ticker symbol for Cypress Development Corp?

The current ticker symbol is CYP on the TSX Venture Exchange and CYDVF on OTCQX.

What project is Cypress Development working on?

Cypress Development is focused on the Clayton Valley Lithium Project in Nevada.

What market is Century Lithium Corp targeting with its projects?

Century Lithium Corp targets the electric vehicle and battery storage market with its lithium production.