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Elektros Begins Feasibility Study on Lithium Mining Project in Sierra Leon

Elektros, Inc.

SUNNY ISLES BEACH, FL / ACCESSWIRE / January 26, 2023 / Elektros (OTC PINK:ELEK), an emerging leader in the electric mobility industry, announced it has begun talks with Lithium mining project in Sierra Leon, Africa.

Elektros announced it has begun discussions regarding potential stake or development agreement for virgin Lithium mining project located in Sierra Leon, Africa.

The Company has begun a mining feasibility study on the project and will explore prospects of developing the mine as a lithium supplier to select processing partners, or battery manufacturer, with a portion of lithium supply potentially being reserved for any future battery production under Elektros umbrella.

Upon completion of feasibility study, the company anticipates executing a letter of intent agreement towards next phase of development negotiations.

Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030. This 2025 forecast calls for triple the demand seen in 2021.

Electric Vehicles (EVs) could account for about 84% of total lithium demand in 2030, up from about 55% in 2021. Consumer electronics, energy storage, and other industrial applications are likely to account for the balance of demand.

Mr. Shlomo Bleier, the CEO of Elektros, Inc., has been involved in the mining industry for over 35 years, to include operations in Brazil and Sierra Leone for the past ten years.

From 1993 to 1999, he worked for Simcha Diamond Ltd. in Brazil where he successfully mined gold and diamonds. From 2000-2004, he was a partner in S & T Mining Group, Ltd in Sierra Leon, Africa, where he served as chief administrator of operations. From 2005-2015, Mr. Bleier has been active in managing various projects in Sierra Leon Africa mining.

About Elektros, Inc.

Elektros (OTC PINK:ELEK) is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023.

Twitter: https://twitter.com/elektrosenergy

Facebook: https://www.facebook.com/Elektrosmotors/

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.'s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.'s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Elektros, Inc.
Email: info@elektrosmotors.com

SOURCE: Elektros, Inc.



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