Lithium Ionic Corp. Announces C$25,000,000 Private Placement Offering
September 19 2022 - 10:35AM
Lithium Ionic Corp. ("
Lithium Ionic" or
“
LTH” or the "
Company")
(TSXV:LTH) is pleased to announce that it has entered into an
agreement with Clarus Securities Inc. as lead agent on behalf of a
syndicate of agents (collectively, the “
Agents”),
whereby the Agents will raise up to C$25,000,000 (the
“
Offering”) through a “best efforts” private
placement of up to 15,625,000 common shares of the Company (the
“
Common Shares”) to be priced at C$1.60 per Common
Share.
The gross proceeds raised under the Offering
will be used for exploration and development work on the Company’s
mineral properties and for general corporate working capital
purposes.
The Offering is scheduled to close on or about
October 12, 2022, and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals of the
TSX Venture Exchange. The securities to be issued under this
Offering will be offered by way of private placement exemptions in
all the provinces of Canada.
The securities referred to in this news release
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This release does not
constitute an offer for sale of, nor a solicitation for offers to
buy, any securities in the United States. Any public offering of
securities in the United States must be made by means of a
prospectus containing detailed information about the issuer and its
management, as well as financial statements.
About Lithium IonicLithium
Ionic is a publicly-traded company which owns a 100% ownership
interest in the Itinga lithium project in Brazil (the
“Itinga Project” or the
“Project”).
The Itinga Project is located in Minas Gerais
State (MG), Brazil. The Project comprises five mineral licenses
covering more than 1,300 hectares in the prolific Aracuai lithium
province. A portion of the Project occurs immediately south of the
CBL lithium mine and plant, Brazil’s only lithium producer, and
immediately north of the large Barreiro and Xuxa lithium deposits
of Sigma Lithium Corp.
The Project area has excellent infrastructure,
including access to hydroelectrical grid power, water, a commercial
port, highways and communities. Lithium mineralization (spodumene,
lepidolite, petalite) occurs within a halo of pegmatite dikes and
apophyses that occur within the rocks surrounding Neoproterozoic
granitic intrusions. Mineralization within the mineralized province
and the distribution of the mineralized pegmatites is controlled by
a complex and crosscutting system of northeast and northwest
oriented faults that were exploited by the dikes. Mineralized
structures have been identified in two areas within the Project and
the remainder of the Project area remains to be explored.
For further information, please
contact:Blake Hylands, P.GeoChief
Executive Officerbhylands@lithiumionic.com
Cautionary Note Regarding
Forward-Looking Statements
This press release contains statements that
constitute “forward-statements.” Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause the Company’s actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Although the Company
believes, in light of the experience of its officers and directors,
current conditions and expected future developments and other
factors that have been considered appropriate that the expectations
reflected in this forward-looking information are reasonable, undue
reliance should not be placed on them because the Company can give
no assurance that they will prove to be correct. When used in this
press release, the words “estimate”, “project”, “belief”,
“anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon
or comparable terminology are intended to identify forward-looking
statements and information. The forward-looking statements and
information in this press release include information relating to
the Offering, the use of proceeds and the Company’s plans. Such
statements and information reflect the current view of the Company.
Risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. The forward-looking
information contained in this news release represents the
expectations of the Company as of the date of this news release
and, accordingly, is subject to change after such date. Readers
should not place undue importance on forward-looking information
and should not rely upon this information as of any other date. The
Company undertakes no obligation to update these forward-looking
statements in the event that management’s beliefs, estimates or
opinions, or other factors, should change.
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.
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