Seymour Ventures to Review Organic Rare Earths Processing Technology; Adds Solvent Extraction Expert Dr. Sinha to Advisory Board
20 June 2011 - 10:15PM
Marketwired
Seymour Ventures Corp.'s (the "Company" or "Seymour Ventures") (TSX
VENTURE: SEY)(FRANKFURT: 3CK1)(WKN: A1C08G) wholly owned
subsidiary, Rare Earth Industries Ltd (REI), announced today that
it has entered into an agreement to perform an exclusive due
diligence review for the potential acquisition of
environmentally-sensitive methods of solvent extraction for
processing of rare earths.
Dr. Sinha's research uses environmentally-friendly methods to
process and separate rare earth elements from one another. This
approach is different from the global industry standard use of
hydrochloric acid or nitric acid. Dr. Sinha's formula is expected
to be substantially more biodegradable than the industry standard
rare earth reagents, as well as more efficient than the industry
standard process. Former US rare earth commodity specialist for the
U.S. Geological Survey and REI Advisory Board member, James
Hedrick, noted, "Dr. Sinha is probably one of the most important
solvent extraction experts today." Dr. Sinha's research and
technology breakthroughs in the use of organic solvents could have
a major impact on rare earths processing, in terms of efficiency,
costs and sustainability.
REI president Alastair Neill, who has more than 15 years of rare
earth industry experience both inside and outside of China
suggests, "As a company, we remain committed to more cost-effective
means to process materials. Based on our understanding of Dr.
Sinha's process, the number of steps necessary for separation
should be reduced." The Company's goal is to simplify, and reduce
environmental impact of, processing and separations of rare earths
by using the technology.
Pursuant to the agreement, REI has entered into an exclusive due
diligence period, during which time the Company will investigate
the potential of applying Dr. Sinha's patentable technology in a
commercial setting. Upon successful due diligence, REI will have an
option to propose mutually agreeable terms to purchase Dr. Sinha's
technology, with an objective of commercializing a unique process
for the environmentally-friendly separations of rare earths on an
industrial scale. There are, however, no assurances that the
Company's due diligence review will be satisfactory or that the
Company will be able to successfully negotiate an agreement to
acquire the technology.
In connection with the agreement, the Company has added Dr.
Shyama (Sam) P. Sinha, PhD to REI's Advisory Board to further its
goal of becoming a low-cost processor of rare earths and rare
metals.
Dr. Sam Sinha has a Masters in Chemistry from Bucknell
University, Pa, and a PhD in Chemistry from the University of
Leeds, England. His PhD thesis is a study of the solvent extraction
of rare earths. He has written two books on the rare earths and
some 90 original research papers. Dr. Sinha directed a NATO
Advanced Studies Institute on the "Systematics and the Properties
of the Lanthanides". Dr. Sinha has been an invited lecturer in many
national and international symposia.
ABOUT SEYMOUR VENTURES CORP.
Seymour Ventures through its wholly-owned subsidiary, Rare Earth
Industries Ltd. (REI), is a mineral exploration company that is
focused on building an industrial enterprise focused on the
high-value processing and separations of rare earth elements and
rare metals. The Company was formed by executives from the fields
of specialized rare earths geology, mine development, chemical
processing, and marketing and distribution of finished rare earths
products. REI is focused on developing an environmentally
sustainable supply chain for rare earths and rare metals sourced
entirely outside of China. Rare earth elements are used in magnets
for electric vehicles, display screens for electronics,
rechargeable batteries and other high-demand products. REI's parent
company, Seymour Ventures, is publicly traded on the TSX Venture
Exchange under the symbol SEY.
Safe Harbor Statement
This news release includes forward-looking statements that are
subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove accurate
and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. We do not assume any obligation to update
any forward-looking statements.
Contacts: Seymour Ventures Corp. - Media Contacts Rob Smith,
Chief Executive Officer (604) 558-0022 or Toll Free: 1(877)607-7841
rsmith@rareearthindustries.com Seymour Ventures Corp. - Media
Contacts Dan Sutton, Investor Relations (604)218-8371 or Toll Free:
1(877)607-7841 Office: (604) 558-0022 (604) 608-3282 (FAX)
info@rareearthindustries.com www.rareearthindustries.com
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