Source: Unsplash
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Lithium Universe (ASX:LU7) establishes a new office in Montreal, Canada
  • LU7 Director Victoria Vargas will operate from the new headquarters
  • Ms Vargas will be tasked with increasing exposure to capital markets and corporate development
  • Shares last traded at 3 cents

The James Bay Region has brought the lithium game to Canada, and now Lithium Universe (ASX:LU7) is following it there.

The company, headed by Altech Batteries’ (ASX:ATC) mastermind Iggy Tan, has set up an office in Montreal.

This, the company reported, will help support its goal to become a major lithium company in the Canadian market.

Only last month, the company locked in a location for key downstream infrastructure in the region.

Lithium hub underway

Its projects in Canada hinge on the construction of a lithium processing hub for which an engineering study is underway.

Called the Quebec Lithium Processing Hub (QPLH), the built-out asset is set to boast one million tonnes of annual production.

Lithium Universe is ultimately hoping to export spodumene concentrate from the facility.

Hub headquarters

While the DFS tracks towards completion, bringing LU7’s executive team closer to a final investment decision (FID), its new Montreal office is now set to handle correspondence and act as a local headquarters.

Following completion of the engineering study, Lithium Universe will be able to progress to a definitive feasibility study (DFS).

The company pointed to its new digs in Montreal as a result of its appointment of Victoria Vargas as a Director.

“The company’s decision to establish a permanent presence in Québec comes after the recent appointment of Ms Victoria Vargas as Director of Lithium Universe Holdings Ltd,” Lithium Universe wrote today.

“Vargas will be based out of the company’s Québec office, where she will be responsible for strengthening the company’s exposure to international capital markets and also facilitating corporate development opportunities.”

Lithium Universe shares last traded at 3 cents.

LU7 by the numbers
More From The Market Online

Weekly Wrap-up: The Headlines That Matter

A list of headlines and economic data that moved markets this week – and what's next.
The Market Online Video

Market Close: ASX200 wraps up the week on a high

The ASX200 closed up nearly half a per cent. Most sectors finished in the green.
The Market Online Video

Webinar: Australia’s Uranium Awakening: Investing in a Glowing Future

Uranium's regained serious value after an extended price depression that resulted from plentiful supplies coupled with…