Hertz Lithium Inc. Announces Proposed Name Change to Hertz Energy Inc., Considers Acquisition of Uranium Projects

Rhea-AI Summary

Hertz Lithium Inc. announces a name change to 'Hertz Energy Inc.' and plans to add uranium projects to its energy metals portfolio. The company is conducting advanced-stage due diligence on uranium mineral projects in various jurisdictions, with no guarantee of acquisition. CEO Kal Malhi emphasizes the company's focus on energy metals and the potential addition of uranium projects to its portfolio.

Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - Hertz Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the "Company") is pleased to announce that, subject to approval of the Canadian Securities Exchange, the Company will be changing its name to "Hertz Energy Inc." (the "Name Change"). The Company will provide further details with respect to the Name Change in a subsequent news release.

HERTZ - CONSIDERING ACQUISITION OF URANIUM PROJECT(S)

Hertz is also pleased to announce that the company is looking to ADD to its energy metals portfolio and conducting advanced-stage due diligence on uranium mineral projects in various jurisdictions. There is no guarantee that a project acquisition will be consummated and Hertz will provide updates as due diligence progresses.

Kal Malhi, CEO, states: "Hertz was always founded to be an energy metals focussed company. Since our listing last April, we have quickly built Hertz with an amazing portfolio of lithium projects and recently closed our private placement of $2,537,400. We believe uranium is also going to be an energy metal of the future and are conducting due diligence on several projects for possible acquisition if due diligence is positive. We are not switching our focus away from lithium projects, but complementing our energy metals project portfolio offering."

About Hertz Lithium Inc.
The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of energy mineral properties. The Company's lithium exploration projects include, the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the AC/DC Lithium Project located in James Bay, Quebec. In addition, The Company in advancing hard rock lithium extraction technologies in partnership with Penn State Unviersity.

For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.com.

On Behalf of the Board of Directors

Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding "Forward-Looking" Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196459

FAQ

What is the new name of Hertz Lithium Inc.?

The new name of Hertz Lithium Inc. is 'Hertz Energy Inc.'

What projects is Hertz considering adding to its energy metals portfolio?

Hertz is conducting advanced-stage due diligence on uranium mineral projects in various jurisdictions.

Is there a guarantee of project acquisition for Hertz?

There is no guarantee that a project acquisition will be consummated, and Hertz will provide updates as due diligence progresses.

Who is the CEO of Hertz Energy Inc.?

The CEO of Hertz Energy Inc. is Kal Malhi.

What was the amount of Hertz's recent private placement?

Hertz closed a private placement of $2,537,400.

What is the ticker symbol for Hertz Energy Inc.?

The ticker symbol for Hertz Energy Inc. is 'HZLIF'.