Toronto, Ontario July 10, 2018 – Golden Share Resources Corporation (“Golden Share” or the “Company”) is pleased to announce that it has entered into a Strategic Cooperation Agreement with Joysun New Energy Co., Ltd. (“Joysun”), a leading lithium-ion battery manufacturer in China with total annual production capacity of 2.4 gigawatt-hours (“GWh”; 1 GWh, being the equivalent of 1 billion watts for one hour).
Under this agreement, Joysun and Golden Share have agreed to jointly pursue the development of a rechargeable home battery system through ODM, or Original Design Manufacturing, based on Joysun’s lithium-ion battery. The development costs will be wholly funded by Golden Share and any Intellectual Property generated in the course of this work will be exclusively owned by Golden Share.
Joysun has been a lithium-ion battery manufacturer since 2012. Joysun’s research and development (R&D) center is located in Dongguan, Guangdong, together with a manufacturing facility with production capacity of 0.6 GWh per year. Joysun’s second manufacturing facility with production capacity of 1.8 GWh per year, which is located in Chenzhou, Hunan, recently initiated production following the completion of its construction, which lasted one year. Joysun’s lithium-ion battery is UL listed. Joysun is independently certified with ISO 9001 and ISO 14001, for quality management and environmental management respectively. Joysun’s R&D team consists of approximately 50 scientists and engineers. Joyson presently holds 28 patents, and recently has applied for another 4.
As announced on April 17 and June 15, 2018, Golden Share intends to spin out its energy storage business into a United States-based new public entity (“New USCo”) that will seek to develop solutions and become a service provider for clean energy integrated with energy storage. The integration of proper energy storage technology is critical to making clean energy more viable, competitive and sustainable.
Golden Share continues to develop its Vanadium Redox Flow Battery, which may be best-suited to stationary grid applications but is probably too bulky for individual home application. Golden Share has therefore elected to pursue the partnership with Joysun described in this press release, so as to pursue the development of a rechargeable home battery system that would provide New USCo with a more complete range of products, with different battery technologies for different applications.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction. As announced on April 17 and June 15, 2018, Golden Share intends to spin out its energy storage business into a US-based new public entity, with the Company retaining its mineral exploration business.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing and success of the development program described above. Although the Company believes the expectations reflected in such statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The Company disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199