Irvine, Ca, Dec. 19, 2024 (GLOBE NEWSWIRE) -- TipMeFast, Inc. (“TipMeFast” or the “Company”) (OTC: TMEF) today announced the signing of an LOI to acquire certain graphite mine assets referred to as the "La Misa" mine and gold mines referred to as "Rosalia" and "El Tambor" located in Mexico. The Company plans to consolidate these assets under a new subsidiary, Lucent Materials, positioning itself to meet growing demand in both the battery materials and precious metals sectors.
Graphite is a key component in the anode of lithium-ion batteries used in electric vehicles (EVs). Approximately 1kg of graphite is needed per kWh of battery energy, which makes it the most significant element of the battery cell by weight. Of the raw materials used in car batteries, graphite is the most difficult to source outside of China.
In retaliation to Washington’s newly threatened tariffs and export controls, China has significantly tightened restrictions on graphite exports. The United States currently imports 100% of its graphite.
Steven Arenal, President of TipMeFast/Lucent Inc. commented, "The acquisition of these quality graphite mining assets will ensure the continued availability of graphite, a key component of both EV batteries and higher conductivity of transmission of energy, ensuring the Company will continue producing cutting edge products into the future. The creation of Lucent Materials as a dedicated subsidiary represents our vertical integration strategy to become a player in the battery materials supply chain while maintaining exposure to precious metals through our gold operations."
Mr. Arenal continued, “The strategic acquisition of the gold mines aligns with the Company's risk management strategy, providing a natural hedge against market volatility and inflation while generating steady cash flow to support the development of its graphite operations. The precious metals assets are expected to help fund the Company's expansion in the battery materials sector while maintaining a strong balance sheet.”
Subject to customary closing conditions, the acquisition is expected to close in the first quarter of 2025.
Lucent engages in sustainable business practices and supports all 17 of the UN’s Sustainable Development Goals.
Further information on Lucent can be found at https://www.lucentlabs.ai.
About Lucent Inc.:
Lucent’s mission is to revolutionize the AI data center and cloud computing industry through AI application platforms and harnessing the power of clean energy. With offices in Irvine, CA, and Taipei, Taiwan, Lucent is committed to providing sustainable, reliable & high-performance solutions that empower businesses and public sectors to thrive in a digital world. Through collaboration & partnership with governments, businesses, and communities, and unwavering dedication to environmental responsibility, Lucent strives to create a brighter, cleaner future for all.
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President
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Tel: 347-947-2093
Email: matthew@strategic-ir.com
