ION Announces Results of ASGM and Update on Joint Venture on Urgakh Naran Project
ION Announces Results of ASGM and Update
on Joint Venture on Urgakh Naran Project
Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - Lithium ION Energy Limited (TSXV: ION) (FSE:
Z4A) ("
ION
" or the "
Company
") is pleased to announce the results of its Annual General and Special
Meeting ("
Meeting
") held Tuesday, August 26, 2025. Details of the matters approved at the Meeting are
set out in the Company's Management Information Circular dated July 23, 2025, which can be found on
the Company's website at
www.ionenergy.ca
and on SEDAR+ at www.sedarplus.ca under the
Company's profile.
At the Meeting, the Company received majority approval to all matters brought before shareholders,
including the reappointment of Messrs. Haji, Waraich, Wood, Tumur-Ochir, Gallucci, and Khishigsuren to
the Company's board of directors ("
Board
") for the ensuing year.
"We are very pleased that our shareholders have approved this transformational, non-dilutive joint
venture for the company that ensures a path to revenue without dilution," said Ali Haji, CEO & Director.
Shareholders also passed a special resolution approving the Company's entrance into a Joint Venture
Agreement with SureFQ Ltd ("SureFQ") for the advancement of the Urgakh Naran Project in Mongolia.
The Company entered into a binding Joint Venture Agreement with SureFQ effective March 26, 2025,
under which ION will retain a 20% free carried interest in the project through commercial production in
exchange for USD$5.5 million in cash consideration to ION over 4.5 years and $USD 8M in
development expenditures on the UN project over 4 years. Following shareholder approval of the Joint
Venture Agreement, the TSX-V has conditionally accepted the agreement, subject to final approval.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: Z4A) is committed to exploring and developing high quality
lithium resources in strategic jurisdictions. ION is focused on advancing the 29,000+ hectare Urgakh
Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. ION is well-poised to be
a key player in the clean energy revolution, positioned well to service the world's increased demand for
lithium. Information about the Company is available on its website,
www.ionenergy.ca
, or under its profile
on SEDAR+ at
www.sedarplus.ca
.
About SureFQ Ltd
SureFQ is dedicated to advancing innovative and sustainable solutions in the lithium and energy sectors.
As a strategic investment and development firm, SureFQ focuses on fostering high-potential projects
that drive the global energy transition. Leveraging SureFQ's extensive industry expertise and
technological capabilities, SureFQ plays a pivotal role in accelerating lithium resource development and
deploying cutting-edge extraction technologies. Through its partnerships and investments, SureFQ is
committed to ensuring a stable and efficient supply of critical materials for the clean energy revolution.
For further information:
COMPANY CONTACT: Ali Haji,
, 647-871-4571
COMPANY CONTACT: Hao Qu,
Cautionary Note Regarding Forward-Looking Information
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.
Information set forth in this news release contains forward-looking statements. Forward-looking
statements include estimates and statements that describe the Company's future plans, objectives or
goals, including with respect to the proposed business combination and the Company's operations after
completion thereof, and other words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and conditions, by their very nature
they involve inherent risks and uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to, the Company's objectives, goals or future
plans, statements, including with respect to the entering into of the proposed joint venture with SureFQ
and the Company's operations after the completion thereof. Important factors that could cause actual
results to differ materially from ION Energy's expectations include, among others, regulatory approvals,
the ability to negotiate and implement definitive agreements, uncertainties relating to availability and
costs of financing needed in the future, changes in equity markets, risks related to international
operations, the actual results of current exploration activities, delays in the development of projects,
conclusions of economic evaluations and changes in project parameters as plans continue to be refined
as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the
Company's business. There can be no assurance that forward-looking statements will prove to be
accurate and 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/264232