Lithiumbank Resources Receives Conditional Approval to Extend Expiry Date of Warrants ___________________________________________________________________________
NEWS RELEASE
LITHIUMBANK RESOURCES RECEIVES CONDITIONAL APPROVAL TO EXTEND EXPIRY DATE OF WARRANTS ___________________________________________________________________________
Vancouver, British Columbia – May 27, 2022 – LithiumBank Resources Corp. (TSXV: LBNK) (the "Company" or "LithiumBank") announces that it has received conditional from the TSX Venture Exchange ("TSXV") to extend the expiry date of 1,507,116 common share purchase warrants of the Company originally issued on January 28, 2022 (the "January Warrants") as part of a private placement of units of the Company.
The board of directors of the Company has approved the extension of the expiry date of the January Warrants from January 28, 2025, to February 16, 2025. The January Warrants will remain exercisable into one common share of the Company at an exercise price of $2.00 per share.
The extension of the January Warrants remains subject to final approval of the TSXV.
About LithiumBank Resources Corp.
LithiumBank Resources Corp. is an exploration and development company focused on direct brine lithium resources in Western Canada.
Contact:
Robert Shewchuk CEO & Director [email protected] (778) 987-9767
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.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including statements relating to proposed extensions to the January Warrants, are forward- looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the proposed extension to the expiry date of the January Warrants will receive the requisite final TSXV approval. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward- looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the proposed extension to the expiry date of the January Warrants will not receive the requisite final TSXV approval, or the TSXV will apply additional conditions to the final approval. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.