Westwater Resources Announces Letter of Intent for Sale of Ultra-PMG™ Representing More than 25% of the Expected Annual Ultra-PMG™ Output from the Kellyton Plant
Graphite Sales Continuing Across All Product LinesWestwater Resources Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite company ("Westwater Resources" or the "Company"), today announced that it has signed its first letter of intent (LOI) to sell Ultra-Purified Micronized Graphite (Ultra-PMG™) from our Kellyton Graphite Processing Plant, which is now under construction in east-central Alabama. As is standard, the LOI is subject to customary conditions and quality and packaging specifications that will be included in a future definitive agreement.
Ultra-PMG™ represents approximately one-half of the expected production of purified graphite from the Kellyton Graphite Processing Plant. The other half of the expected production will be coated spherical purified graphite, or CSPG, which will be used in lithium-ion batteries including for electric vehicles. Ultra-PMG™ can be used in a variety of industrial applications. While customer interactions are ongoing related to our CSPG product and have gained momentum following the passage of the Inflation Reduction Act, executing agreements for Ultra-PMG™ is another positive step forward for Westwater. The amount of product covered by this LOI represents more than 25 percent of the expected annual production of Ultra-PMG™ at the Kellyton Graphite Processing Plant.
WESTWATER RESOURCES, INC.
Westwater Resources is an energy technology company that is focused on developing battery-grade natural graphite. Westwater Resources' primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. In addition, Westwater Resources' Coosa Graphite Deposit is the most advanced natural flake graphite deposit in the contiguous United States - and is located across 41,965 acres (~17,000 hectares) in Coosa County, Alabama. For more information, visit westwaterresources.net.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "will be," "expected," "can be," and other similar words. Forward-looking statements in this release include, among other things, statements concerning Westwater's future sales prospects, and the amounts and types of products included within those sales. Westwater cautions that there are certain factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Westwater; accordingly, there can be no assurance that such suggested results will be realized. Additional risks facing Westwater's future prospects are discussed in the Westwater Resources Inc. Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent securities filings.
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