Frontier Lithium Secures $3.35 Million Loan, Plans Thunder Bay Facility

Frontier Lithium is progressing towards establishing a lithium conversion facility in Thunder Bay, Ontario, following the acquisition of a 183-acre industrial site on Mission Island. The company secured a $3.35 million convertible loan to finance this purchase, with plans to exercise the option to buy the land by February 28, 2025. The site is strategically located near Frontier's PAK lithium deposit, which is known for high-grade lithium resources and significant potential for electric vehicle and energy storage markets. With the Thunder Bay region's robust transportation infrastructure, the facility aims to process lithium concentrates into battery-grade lithium salts. The establishment of this facility marks a key step for Frontier Lithium in becoming a strategic supplier in the North American lithium market. Shares of Frontier Lithium have risen following the financing announcement, reflecting positive investor sentiment.