Lithium Ionic Welcomes Tom Olesinski as Chief Financial Officer
November 03 2022 - 6:00AM
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or
the “Company”), a lithium exploration company actively drilling on
its ~2,000 ha claims located in the prolific Aracuai lithium
province in Minas Gerais State, Brazil, is pleased to announce that
Tom Olesinski has joined the Company as Chief Financial Officer,
bringing over 20 years of finance and management experience.
“We are thrilled to have Mr. Olesinski join the
team,” said Blake Hylands, Chief Executive Officer of Lithium
Ionic. “His background and extensive experience make him a welcome
addition to the senior team as we move the company forward. We are
confident that he will help us navigate the many initiatives we
have planned, as we strive to continue delivering value to our
shareholders.”
Mr. Olesinski, has over 20 years of finance and
executive management experience. He formerly worked as a managing
forensic accountant for BDO Dunwoody, where he earned a Certified
Fraud Examiner designation, before moving into the marketing
communications industry. He formerly served as Director of Finance
and Operations for Cossette Communication Group, and CEO and CFO at
Havas Media Canada. Most recently, he served as COO and CFO for
Brainrider. He currently serves as a board member for Troilus
Gold Corp. Mr. Olesinski holds a Bachelor of Commerce and Economics
from the University of Toronto and is a Chartered Professional
Accountant.
The Company would like to thank the outgoing
CFO, Greg Duras, for all his contributions to Lithium Ionic and for
his support through this transition.
Stock Options
The Company has granted a total of 1,650,000
stock options to various directors, officers and consultants
pursuant to its stock option plan. The options may be exercised at
a price of $1.69 per option for a period of five years from the
date of grant. The grant of options remains subject to the approval
of the TSX Venture Exchange.
Further to the Company’s press release dated
October 5, 2022, the Company reports that an insider of the
Company, Electrification and Decarbonization LP (by virtue of
owning more than 10% of the outstanding voting shares), purchased
an aggregate of 1,850,000 Lithium Ionic common shares under the
private placement, and such participation is considered to be a
“related party transaction” as defined under Multilateral
Instrument 61-101 (“MI 61-101”). The Company has relied on the
exemptions from the valuation and minority shareholder approval
requirements of MI 61-101 contained in sections 5.5(a) and
5.7(1)(a) of MI 61-101 in respect of such related party
participation as the fair market value of the participation in the
private placement by the related party did not exceed 25% of the
market capitalization of the Company, as determined in accordance
with MI 61-101.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based
lithium-focused mining company with properties covering ~2,000
hectares located in the prolific Aracuai lithium province in Minas
Gerais State, Brazil, which boasts excellent infrastructure,
including highways, access to hydroelectrical grid power, water,
and nearby commercial ports. Its Itinga and Galvani claims are
located in the same district as the lithium-producing CBL mine and
development-stage Sigma Lithium Corp.’s large Barreiro and Xuxa
lithium deposits.
For more information please
contact:
Lithium Ionic Corp. Blake
Hylands, P.Geo.Chief Executive OfficerEmail:
bhylands@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
changes to the Company’s management team, the grating of stock
options, the prospectivity of the Itinga Project and the Galvani
claims, the mineralization and development of the Itinga Project,
Galvani claims and other mining projects and prospects thereof.
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 the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
press release.
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