LAS VEGAS, March 04, 2021 (GLOBE NEWSWIRE) — Barrel Energy Inc. (the “Company” or “Barrel”) (OTC: BRLL) is pleased to announce it has signed a Memorandum of Understanding to enter a partnership with American Lithium Minerals, Inc (“AMLM”) (OTC:AMLM) for production facilities in North America.
As previously announced, on February 10th 2021, Barrel signed an exclusive agreement with Roshan Energy Technologies www.roshantechnologies.in/ (“Roshan”) that will allow for Barrel to become the majority stakeholder in Roshan and the expansion of its Lithium battery facilities in India. Roshan has developed an impressive line of Lithium Battery products for Electric Vehicles, Medical Equipment, Solar street lighting, the telecom industry as well as home energy storage solutions. Barrel and Roshan first plan to make a sizeable impact on the escalating small vehicle EV market in India, a country that has made ambitious policies towards the change to EVs. Roshan has already signed contracts to supply an assortment of manufacturers of two and three wheeled EVs.
Additionally, the Barrel-Rosha agreement allows for Barrel to establish a U.S. based manufacturing unit for key Roshan battery products and designs. The Barrel and AMLM MOU is designed to allow Barrel to have its first base for entry into U.S. based manufacturing and use new selective recycling technologies developed by Roshan team that offer both crucial waste-management and battery metal supply solutions.
The non-exclusive AMLM agreement calls for Lithium products to be pilot tested, manufactured and even recycled at one or more its industrial complexes. The technology, operations and products will be provided by Barrel through its agreement with Roshan Energy, as well as any technology sourced by AMLM.
The proposed first location by AMLM is within the heartland of U.S. manufacturing with nearby high population density, sufficient power, square footage and accessibility by rail, road, and water.
About American Lithium Minerals (OTC Markets AMLM) is engaged in mineral exploration for lithium and rare earth minerals (REE) in the southwest U.S and are active in Lithium Complexes, intended to process high-grade lithium ore, assemble lithium-ion batteries and recycle spent lithium-ion batteries.
About Barrel: Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the energy and minerals sector and the rapid development of valuable production opportunities throughout North America.
Contact: Louis Silver, Investor Relations
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission.