TORONTO, June 28, 2018 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV:SRI) ("Sparton" or the "Company") is pleased to report that VRB Energy (“VRB”), formerly Pu Neng Energy, announced yesterday a Strategic Cooperation Framework Agreement with the Pangang Group Vanadium and Titanium Resources Co. Ltd. (“Pangang V&T”).
Sparton’s 87.46% owned subsidiary VanSpar Mining Inc. owns an 18% equity interest in VRB. HPX Techco (“HPX”) a private mineral exploration organization, and part of the I-pulse Group of technology companies (“I-Pulse”), owns 82% of VRB.
Pangang V&T is the world’s largest producer of vanadium oxide and a listed subsidiary of Panzhihua Iron and Steel, one of the world’s leading steel producers since 1971.
“I view this agreement with Pangang V&T as a major strategic breakthrough for VRB. It will ensure the required supplies of high purity vanadium products to support electrolyte manufacturing for VRB’s battery installations on an ongoing basis”, stated Lee Barker, Sparton’s CEO. “With a current shortage, and high prices for vanadium products particularly in China where VRB operations are located, we regard this as another positive milestone in VRB’s development as the Vanadium Redox Battery (“VRB”) manufacturer of choice for the energy storage industry”.
To read the full VRB News Release dated June 27, 2018 and for more information on VRB Energy, HPX and I-Pulse please visit the Company website – click here – or the following websites: www.vrbenergy.com, www.hpxploration.com, and www.ipulse-group.com.
VRB and related Information contacts:
Jim Stover Eric Finlayson
jimstover@vrbenergy.com Eric.F@hpxploration.com
+1 604 648 3900 +1 604 351 6350
Charles Ge 葛启明 Bill Trenaman
charlesge@vrbenergy.com billtr@ivancorp.net
+86 186 7010 7777 +1 604 331 9834” |