As announced in our corporate news May 2022 (https://www.pressetext.com/news/20220502037), we are middle in the process of implementing the stock exchange listing procedures. As described in this corporate announcement, the stock exchange listing will be carried out with a separate company. As explained, the shareholders of NOWEA ENERGY INC. will then receive listed shares of this company.
We are pleased to inform that the final approval of the "Prospectus / Form S-1 Registration Statement under the Securities Act of 1933" by the SEC Securities and Exchange Commission in the US has been granted meanwhile. Now we are working on the next steps. The processes for establishing the electronic stock as well as for the approval by the FINRA Financial Industry Regulatory Authority is initiated and already underway.
As already informed, the "Oil wells USA" have been contributed in this company with which the stock exchange listing is currently being implemented. The same is planned with the asset "Boron Lithium Mining Project". The boron lithium mining company will soon carry out a capital increase itself. The valuation of this capital increase will then provide the reliable and comprehensible basis for the above-mentioned contribution.
After completion of these steps, the shareholders of NOWEA ENERGY INC. will thus hold shares of this listed company with the assets "Oil Wells USA" and "Boron Lithium Mining Project". In this context, we are pleased to point out the ecxiting future potential. The increased and further rising prices for crude oil offer interesting opportunities with regard to the expansion of the oil wells in the US. On the other hand, the boron lithium mining company is planning its own IPO. This is expected to be at a significantly higher valuation than the above mentioned planned capital increase.
However, we explicitly point out that the above-mentioned procedures need sufficient time and NOWEA is dependent on authorities and service providers, which we do not control and no pressure can be exerted.
Market environment
In this context, we would like to mention some current market developments, inflation- and currency-scenarios. According to the press release of the German Federal Statistical Office, inflation in Germany in May 2022 is a whopping 7.9% and the further development remains to be seen. The global measures taken by central banks and monetary guardians are designed for the long term. As a result, the US-Dollar is expected to remain strong against the other major currencies.
Lithium Carbonate::
The world market price per ton of Lithium Carbonate (battery grade) is currently stable between USD 70,000 / 75,000 per ton. When NOWEA made the strategic decision to invest in lithium mining project, the price per ton of lithium carbonate was 6,000 / 7,000 USD per ton.
EU Parliament votes to ban internal combustion vehicles from 2035 onwards:
In the fight for more climate protection, the EU Parliament wants to ban the sale of new cars with combustion engines from 2035 on. A majority voted in Strasbourg on June 8, 2022, to allow manufacturers from the middle of the next decade to market only cars and small transporters that do not emit any greenhouse gases that are harmful to the climate. This should further fuel the demand for lithium carbonate.
