Li3 Lithium Completes $200,000 Private Placement
Li3 Lithium Completes $200,000 Private Placement
Toronto, Canada, January 16, 2023 – L i 3 L i t h i u m C o r p . ( T S X V LILI) (“ Li3 Lithium ” or the
“Company”) is pleased to announce that it has completed the non-brokere d private placement previously
announced on January 9, 2023 (the “Private Placement”) for aggregate gross proceeds of $200,000. The
Private Placement involved the issuance of 2,000,000 units (“ Units”) at a price of $0.10 per Unit. Each
Unit consists of one (1) common share in the capital stock of the Company (a “Common Share”) and one
half of one (1/2) warrant. Each whole warrant will entitle the holder to purchase one Common Share for
$0.20 at any time within two years after closing.
All securities issued pursuant to the Private Placement will be subject to a hold period of four months plus
a day from the date of issuance and the resale rules of applica ble securities legislation. The net proceeds
from the sale of the Units will be used for general working capital purposes and to assist in conducting due
diligence of potential business opportunities. The closing of the Private Placement is subject to certain
conditions including, but not limited to, the receipt of all ne cessary regulatory and other approvals,
including the approval of the TSX Venture Exchange (“TSXV”).
In addition, the Company would like to correct the press releas e dated January 9, 2023 relating to the
2,000,000 options granted. The exercise price of the options granted was $0.12 and not $0.10 as stated in
the January 9, 2023 press release.
About Li3 Lithium Corp.
Li3 Lithium is focused on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and
Argentina, where the founders h ave significant experience and r elationships. As evidenced by recent
market growth, hard rock lithium deposits are forecast to continue to dominate the global supply of lithium
given the scarcity, complexity and capex-intensive nature of al ternative brine sources. At present,
spodumene concentrate is at a record high price of US$5,500/tonne and forecast to go higher.
Li3 Lithium has a 50 percent interest in Li3 Resources Inc., a private company with a 50 percent interest in
the Mutare Lithium Project, which consists of 1,500 hectares of licenses within the Mutare Greenstone Belt
of Zimbabwe.
Contact Information:
Li3 Lithium Corp
Stephen Dunn, Director
Tel: 416-361-2827
Email: [email protected]
www.lithium3.com
CAUTIONARY STATEMENT:
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 release.
This news release contains certain “forward-looking information ” within the meaning of applicable
securities laws. Forward looking information is frequently characterized by words such as “plan”, “expect”,
“project”, “intend”, “believe”, “anticipate”, “estimate”, “may” , “will”, “would”, “potential”, “proposed”
and other similar words, or stat ements that certain events or c onditions “may” or “will” occur. These
statements are only predictions . Forward-looking information is based on the opinions and estimates of
management at the date the inf ormation is provided, and is subj ect to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ materially from those projected in the
forward- looking information. For a description of the risks an d uncertainties facing the Company and its
business and affairs, readers should refer to the Company’s Man agement’s Discussion and Analysis. The
Company undertakes no obligation to update forward-looking info rmation if circumstances or
management’s estimates or opinions should change, unless required by law. The reader is cautioned not to
place undue reliance on forward-looking information.