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GoGreen Investments Corporation (NYSE:GOGN) is a publicly traded special purpose acquisition company (SPAC) focused on effecting mergers, share exchanges, asset acquisitions, or similar business combinations with one or more businesses. Recently, GoGreen announced a significant move in their strategic roadmap by entering into a Business Combination Agreement with Lifezone Holdings Limited, also known as Lifezone Metals.
Lifezone Metals is a modern metals company that creates value across the battery metals supply chain, from resource extraction to metals production and recycling. The company's mission is to provide commercial access to proprietary technology and cleaner metals production through a scalable platform supported by their tailored hydromet technology. This innovative technology has the potential to be a cleaner and lower-cost alternative to traditional smelting processes.
One of Lifezone Metals' core projects is the Kabanga Project in Tanzania, which is believed to contain one of the largest and highest-grade undeveloped nickel sulphide deposits in the world. Lifezone Metals has a long-standing partnership with BHP on this project, with BHP investing USD 100 million over the past two years. This partnership aims to empower Tanzania to achieve full value creation in-country and become the next premier source of nickel.
On June 14, 2023, Lifezone Metals announced the appointment of Ingo Hofmaier as its Chief Financial Officer (CFO). Ingo brings over 20 years of experience in financial reporting, tax, commercial contracts, project corporate finance, M&A, and investment banking. He will lead the execution of Lifezone Metals' financial and commercial strategy and ensure compliance with securities law as the company transitions to a publicly listed entity on the NYSE, under the ticker symbols 'LZM' and 'LZMW'.
The business combination with GoGreen Investments Corporation was approved by 70.4% of GoGreen's shareholders during an extraordinary general meeting held on June 29, 2023. This merger is expected to close around July 5-6, 2023, subject to customary closing conditions.
John Dowd, CEO of GoGreen, expressed his optimism regarding the merger, stating that the combination of GoGreen and Lifezone Metals has the potential to significantly impact the energy transition by increasing the supply of clean metals. He believes that Lifezone Metals is well-positioned to support the decarbonization of the transportation sector and beyond.
Lifezone Metals' Chairman, Keith Liddell, also emphasized the significance of their partnership with GoGreen, noting that they have the right assets, technology, partnerships, and team to transform the supply chain for electric vehicle batteries and contribute to the decarbonization of the economy.
For more information and updates, please visit GoGreen Investments Corporation and Lifezone Metals.
On April 19, 2023, Lifezone Metals announced the initiation of an off-take marketing process for nickel, copper, and cobalt from its Kabanga Project, believed to be among the world's largest and highest-grade nickel deposits. This move follows a Business Combination Agreement with GoGreen Investments Corporation (NYSE: GOGN). Lifezone aims to support the clean energy transition through its proprietary Hydromet Technology, which offers a low-carbon alternative to traditional smelting. The company holds marketing rights for up to 40% of the Kabanga Project's total production. RBC Capital Markets will oversee the marketing process, which is critical for monetizing the project amid rising demand from electric vehicle and battery manufacturers.
Lifezone Metals has reported a Technical Report Summary (TRS) estimating substantial mineral resources at its Kabanga nickel project in Tanzania. The resource totals 40.4 million tons, with contained metal of 2,925 million lbs NiEq, including 2,325 million lbs nickel and 171 million lbs cobalt, grading at 3.28% and 0.19%, respectively. The TRS, filed by GoGreen Investments Corporation (NYSE: GOGN), is the first compliant with S-K 1300 regulations. The project is supported by $100 million in investments from BHP Billiton and aims to leverage innovative processing technology to minimize carbon emissions in battery metals refining. CEOs of both companies express optimism for the project’s future.
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