Expion360 Signs Memorandum of Understanding with Ioneer Ltd. For Lithium Supply

Rhea-AI Summary

Expion360 (NASDAQ:XPON), a leader in lithium batteries for RVs and outdoor applications, has signed a Memorandum of Understanding (MOU) with Ioneer Ltd. to secure a domestic supply of lithium carbonate. This strategic move aims to enhance the company's supply chain amid increasing demand for their products. Additionally, Expion360 has engaged the Chesapeake Group for enhanced investor relations and corporate communication. The partnership is expected to bolster transparency and investor education initiatives as the company continues its growth trajectory.

Positive

• Secured a MOU with Ioneer Ltd. for lithium supply, enhancing supply chain stability.
• Engaged Chesapeake Group to improve investor relations and corporate communication.

Negative

• None.

Expion360 Engages Chesapeake Group for Corporate Communication

REDMON, OR and LINCOLNSHIRE, IL / ACCESSWIRE / July 25, 2022 / Expion360, Inc. (NASDAQ:XPON), an industry leader in lithium batteries and accessories for recreational vehicles (RVs), outdoor, marine and industrial, has completed a Memorandum of Understanding (MOU) for lithium supply to the company.

Ioneer Ltd. is in the process of becoming a major domestic supplier of refined lithium. The MOU states that Expion360 is interested in engaging Ioneer as a supplier of lithium carbonate and Ioneer is interested in manufacturing and supplying this product to Expion360.

"This is an important step toward the vertical integration of our company and controlling our supply chain. With the ever-increasing demand of our battery products and our production capabilities, it is important to have a domestic supplier of lithium," commented Expion 360 CEO John Yozamp.

As the company continues its rapid growth, the company has hired Chesapeake Group for corporate communication and broker relations. The Chesapeake Group, Inc. will create and execute a new proactive investor relations program for current and potential investors. Chesapeake will control aspects of investor outreach with an emphasis on investor education and corporate transparency. Headquartered in Maryland, Chesapeake is an award-winning full-service investor relations firm that has been assisting public companies since 1996.

About Ioneer
Ioneer Ltd is the 100% owner of the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA, the only known lithium-boron deposit in North America and one of only two known such deposits worldwide. The Definitive Feasibility Study (DFS) completed in 2020 confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron vital to a sustainable future. In September 2021, Ioneer entered a 50/50 joint venture agreement with Sibanye Stillwater Ltd to advance the Rhyolite Ridge project into commercial production. Ioneer will be the operator of the Project.

About Expion360

Expion360 is an industry leader of premium lithium batteries and accessories for recreational vehicles, outdoor, marine, and industrial. The company sources, assembles and white-labels components and finished products. Its 360 (12V/360Ah) is 3.5x the capacity of the average RV battery and is unique in form factor. Founded in 2016 by the company's CEO, John Yozamp, Expion360 designs and engineers its batteries out of its headquarters in Redmond, Oregon. For more information visit, www.epxion360.com.

Forward-Looking Statements and Safe Harbor Notice

All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Prospectus on Form S-1 filed with the SEC on January 21, 2022, subsequent filings and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.

The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.

Brokers and Analysts
Chesapeake Group
410-825-3930
info@chesapeakegp.com

Expion360 Investor Contact:
Ronald Both or Justin Lumley
CMA Investor Relations
Tel (949) 432-7566
Email contact

Expion360 Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact

SOURCE: Expion360 Inc.

View source version on accesswire.com:
https://www.accesswire.com/709558/Expion360-Signs-Memorandum-of-Understanding-with-Ioneer-Ltd-For-Lithium-Supply

FAQ

What is the significance of the MOU between Expion360 and Ioneer Ltd.?

The MOU secures a domestic lithium supply for Expion360, crucial for meeting rising product demand.

How will the Chesapeake Group assist Expion360?

Chesapeake Group will enhance investor relations, focusing on transparency and education for current and potential investors.

What is the stock symbol for Expion360?

The stock symbol for Expion360 is XPON.