Announcing - Private Placement Closing
908 – 510 Burrard Street Vancouver, B.C. V6C 3A8
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
GLOBAL LI-ION GRAPHITE CLOSES NON-BROKERED PRIVATE PLACEMENT LION: CSE GBBGF:OTCQB 0TD:F
Vancouver, BC – January 11, 2024. Global Li-Ion Graphite Corp. ("Global Li-Ion" or the “Company”) (LION) is pleased to announce that it has completed a non-brokered private placement of 11,800,000 units (the “Units”) of the Company at a price of $0.025 per unit for gross proceeds of $295,000 (the "Offering"). Each Unit consisted of one (1) common share of the Company (a “Share”) and one (1) transferable common share purchase warrant (a “Warrant”). Each Warrant is exercisable into one (1) Share for two years from issuance (the “Exercise Period”) at a price of $0.10 per Share in the first year of the Exercise Period and at a price of $0.20 per Share in the second year of the Exercise Period.
A director of the Company acquired 1,000,000 Units in the Offering, which participation constituted a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation was exempt from the formal valuation and minority shareholder approval requirements of MI 61- 101 as neither the fair market value of the Units acquired by the director, nor the consideration for the Units paid by such insider, exceeded 25% of the Company's market capitalization.
Global Li-Ion intends to use the net proceeds of the Offering for business development and general working capital.
The Company did not pay finder's fees in connection with the Offering.
The Company further announces it has borrowed an aggregate of $201,250 from two arm’s length lenders pursuant to promissory notes (the “Loans”). In connection with the Loans, the Company issued the lenders a stock-based bonus of four (4) Shares for every $1 in principal amount of the Loans, for an aggregate bonus of 805,000 Shares.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information on the Company, please contact:
Jason Walsh Chairman Global Li-Ion Graphite Corp.
Telephone 604.608.6314 Email: [email protected]
Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information:
This press release contains forward-looking statements, including statements respecting the expected use of proceeds from the Offering. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forwardlooking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedarplus.ca. While the Company may elect to, it does not undertake to update this information at any particular time.
1396-0258-2025, v. 2