LibertyStream Announces Texas Refining Progress, Wins Grant for North Dakota Battery Initiative

CALGARY, Alberta & DALLAS--(BUSINESS WIRE)--Oct 23, 2025--

LibertyStream Infrastructure Partners Inc. (TSXV: LIB | OTCQB: VLTLF | FSE: I2D) (“ LibertyStream ” or the “ Company ”) is pleased to announce continued progress on the installation of its lithium carbonate refining unit (the “Refining Unit”) in Texas, a key milestone in its strategy to scale domestic lithium production. In parallel, the Company and North Dakota partner, Wellspring Hydro has been awarded a US$500,000 grant from the State of North Dakota to support the development of in-state lithium carbonate production for future battery cell manufacturing. Together, these initiatives reinforce LibertyStream’s commitment to building a vertically integrated supply chain for high-purity lithium carbonate sourced from its field operations in Texas and future sites in North Dakota.

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“We remain on schedule to initiate commercial lithium carbonate production with the installation of our Refining Unit in Texas,” said Alex Wylie, President & CEO of LibertyStream . “ We’re also honored to receive continued support from the State of North Dakota, which enables us to expand our refining capabilities and advance in-state lithium carbonate production to support future battery cell manufacturing.”

Installation of Lithium Carbonate Refining Unit

LibertyStream announced the purchase of its lithium carbonate refining unit (the “Refining Unit”) in July 2025. By early October, the Company had initiated site preparation activities in Texas to accommodate the Refining Unit, marking a critical step toward commercial production. As of this update, installation of the Field Unit is substantially complete, and LibertyStream has officially entered the commissioning phase.

Once operational, the Refining Unit will be capable of producing up to 10 tonnes per annum (tpa) of lithium carbonate, engineered to meet the technical specifications of future customers across both industrial-grade and battery-grade applications. To support qualification and offtake discussions, bulk samples sourced from the Texas field site will be made available to prospective customers. Management expects the Refining Unit to deliver consistent, high-quality output, enabling customers to confidently assess product grade and reliability for long-term supply agreements

North Dakota Renewable Energy Program Grant

The Renewable Energy Program (“REP”) has awarded LibertyStream and its North Dakota partner, Wellspring Hydro, a grant of US$500,000 to support the validation of battery-grade lithium carbonate for deployment within the state (the “ND Grant”). The grant is intended to advance regional lithium production capabilities and accelerate commercialization of high-purity lithium for energy storage applications. Final confirmation of the ND Grant is scheduled for October 27, 2025.

The ND Grant will be deployed to complete the next step of commercialization including site specific lithium extraction qualification and associated high value 3rd party testing. A major emphasis will be on lithium refining validation and samples creation with a purpose to prove the capability to meet the required quality and quantity of Lithium Carbonate for customers. The primary focus of validation of the lithium carbonate testing will ensure LibertyStream can meet the short and long-term product requirements for a battery cell manufacturing facility in North Dakota. The validation work will be performed in conjunction with the University of North Dakota and cathode cell manufacturers. This output will create a full life-cycle lithium ecosystem inside North Dakota from lithium extraction to battery manufacturing, with the potential to make the state a key player in the evolving and expanding energy market.

North Dakota Renewable Energy Program

North Dakota's Renewable Energy Program (REP) was established by the Legislature in 2007 under the control of the North Dakota Industrial Commission. The law provides that the Industrial Commission shall consult with the Renewable Energy Council (REC). The Program's responsibilities include providing financial assistance as appropriate to foster the development of renewable energy and related industrial use technologies including, but not limited to, wind, biofuels, advanced biofuels, biomass, biomaterials, solar, hydroelectric, geothermal, and renewable hydrogen through research, development, demonstration and commercialization. In addition, the Program shall promote research and utilization of renewable energy co-product utilization for livestock feed, human food products and industrial use technologies.

About Wellspring Hydro

Wellspring, a North Dakota-based company, is dedicated to transforming the Bakken oilfield brine into valuable resources. Our mission is to harness the full potential of oilfield brines, driving innovation and sustainability in resource management.

About LibertyStream Infrastructure Partners

LibertyStream is a lithium development and technology company aiming to be one of North America’s first commercial producers of lithium carbonate from oilfield brine. Our strategy is to generate value for shareholders by leveraging management’s hydrocarbon experience to deploy our proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world’s clean energy transition. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company’s continued progress on its website: https://LibertyStream.com/.

Forward Looking Statements

This news release includes certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “will”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, management’s expectations relating to the site preparation and commissioning of the Refining Unit and expectations of production of lithium carbonate therefrom, the anticipated steps and timing related to launching full-scale operations in 2026, benefits to the Company’s proprietary DLE technology including the anticipated reduction of capital costs associated with lithium carbonate extraction from oilfield brine by the use of existing oil and gas infrastructure and the support of clean energy transition efforts caused by the deploy of the Company’s proprietary DLE Technology. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including the risk that management’s production estimates relating to the Refining Unit turn out to be incorrect and that the timing of launching full-scale operations may be delayed or not occur at all, and generally, those known risk factors outlined in the Company’s Management’s Discussion and Analysis for the period ended December 31, 2024 and Management’s Discussion and Analysis for the three and six months ended June 30, 2025. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the 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 news release.

LibertyStream's lithium refining unit located adjacent to extraction facilities in the Permian Basin, West Texas.

MINNEAPOLIS (AP) — A judge on Thursday handed down an extraordinary prison sentence — nearly 42 years — to the former leader of a Minnesota nonprofit who was convicted in a staggering $250 million fraud case that helped ignite an immigration crackdown by the Trump administration.

Aimee Bock ran Feeding Our Future, which had claimed it helped provide millions of meals to children in need during the pandemic. The U.S. Justice Department, however, said she was atop the “single largest COVID-19 fraud scheme in the country.”

“I understand I failed. I failed the public, my family, everyone,” Bock said in federal court.

After the hearing, authorities held a news conference to announce charges against 15 more people accused of fraud in receiving federal payments for a variety of social services administered through Minnesota's state government.

“We will claw back every dollar you have stolen from the American people,” Assistant Attorney General Colin McDonald declared.

President Donald Trump used the fraud cases against Bock and many others to initially justify a massive surge of federal officers to the Minneapolis-St. Paul area last winter, leading to pushback from residents and the deaths of two people.

Bock had long proclaimed her innocence but was convicted last year of conspiracy, fraud and bribery.

Her nonprofit was at the center of a fraud network that included a web of partner organizations, phony distribution sites, kickbacks and fake lists of children supposedly being fed, prosecutors say. Dozens of people, many from the state’s large Somali community, have been convicted in a series of overlapping food fraud cases that have spent years in the courts.

Bock and co-conspirators enriched themselves with international travel, real estate purchases, luxury vehicles and other lavish spending, the government said.

“This case has changed our state forever,” Joe Thompson, formerly the lead prosecutor in the case, said outside the courtroom. “Aimee Bock did everything she could to earn this long sentence.”

Bock's lawyer, Kenneth Udoibok, argued for no more than three years in prison, saying she had provided key information to investigators. He argued that Bock had been unfairly painted as the mastermind and insisted that two co-defendants were responsible for running the scams.

Meanwhile, in a fresh batch of criminal cases filed in Minnesota, the government said the alleged fraud involved $90 million across seven state-managed Medicaid programs.

The targets include Fahima Mahamud, who was CEO of Future Leaders Early Learning Center, a childcare center in Minneapolis. Over three years, Mahamud’s organization was reimbursed approximately $4.6 million for services on behalf of people who didn’t make a required copayment, prosecutors allege.

A message seeking comment from her lawyer was not immediately returned Thursday. Mahamud was charged separately in February with fraud related to meals. She has pleaded not guilty.

Two other people were charged with conspiring to get $975,000 in Medicaid subsidies for housing services that were not provided. They’re expected to plead guilty in June, according to a court filing.

Two additional people were accused of receiving $21.1 million by billing Medicaid for autism therapy that was either unnecessary or not provided. Investigators said the two paid families as much as $1,500 per child per month to add their names to the program and get reimbursement.

“We will not allow criminals to treat children as billing opportunities as American taxpayers foot the bill,” said Health and Human Services Secretary Robert F. Kennedy Jr.

Trump, who has long derided Somalis, last year blasted Minnesota as “a hub of fraudulent money laundering activity.” He also criticized the leadership of Gov. Tim Walz, the Democrats’ vice presidential nominee in the 2024 election.

“Somali gangs are terrorizing the people of that great State, and BILLIONS of Dollars are missing. Send them back to where they came from,” Trump wrote on social media.

Bock is white and the U.S. Attorney’s Office says the overwhelming majority of defendants in the cases are of Somali descent. Most are U.S. citizens.

The immigration surge led to repeated protests and confrontations between residents and federal officers and resulted in the killings of Renee Good and Alex Pretti.

AP reporters Scott Bauer in Madison, Wisconsin, and Ed White in Detroit contributed.

FILE - Aimee Bock, founder and executive director of the nonprofit organization Feeding Our Future, arrives at the Minneapolis federal courthouse with her attorney, Ken Udoibok, right, on March 19, 2025, in Minneapolis. (Kerem Yücel/Minnesota Public Radio via AP, File)