Heliosx Lithium & Technologies Corp. Adds Alberta Acreage and Doubles Alkali Lake Placer Mineral Claims.
HELIOSX LITHIUM & TECHNOLOGIES CORP. ADDS ALBERTA ACREAGE AND DOUBLES
ALKALI LAKE PLACER MINERAL CLAIMS.
CALGARY, ALBERTA, September 09, 2022 – HeliosX Lithium & Technologies Corp. (“HeliosX”
or the “ Company”) (TSXV: HX) (OTCQB: HXLTF) (FSE: C2U0) is pleased to announce the
acquisition of 5,060 acres in Worsley, Alberta, and the acquisition of 77 new placer mineral claims
contiguous to its Alkali Lake, Nevada asset. This will more than double the asset total from 1,240
acres to 2,780 acres in the Alkali Spring Valley. This brings the Alberta acreage total from 310,000
acres to 315,060 acres. HeliosX is still undertaking a Western Canadian basin Lithium resource
identification project that will prioritize high value target acquisitions.
The Company also announces it has received notification from Lone Mountain Resources
("LMR"), of its intention to terminate the Earn-In Agreement between the Company and LMR. The
termination notice was required prior to August 31, 2022.
Under the terms of the Earn-In Agreement, LMR has not earned any ownership of the Alkali Spring
Valley (also known as Alkali Lake) Lithium exploration project . Accordingly, Dajin Resources
(U.S.) Corp., a wholly owned subsidiary of the Company incorporated pursuant to the laws of the
State of Nevada, will retain 100% ownership . Additionally, LMR was required to return any new
data i t may have gathered up to the termination date. The Company has paid all the claims
maintenance fee for Alkali Lake through 2023.
Due diligence for the non-brokered private placement financing (the “ Private Placement”) of
US$4,708,800 through the issuance of 7,200,000 units (the " Units") at US$0.654 per unit is
ongoing and expected to close in the next 30 days.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any province in which such offer, solicitation or sale would
be unlawful. The securities issued, or to be issued, under the Private Placement have not been,
and will not be, registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable exemption from
registration requirements.
About HeliosX
HeliosX is an integrated lithium exploration company, incorporating the latest in direct lithium
extraction ("DLE") technologies, to unlock potential commercial opportunities in Alberta
(Canada), Nevada (USA) and Jujuy (Argentina). The Company holds approximately 560,000
lithium brine acres across three prospective lithium jurisdictions, providing potential exposure
to multiple lithium brine play types. The company has selected specific DLE technologies
which it believes will maximize potential lithium opportunities in each operational jurisdiction
and continues to move forward with technical modeling and information gathering to better
delineate the prospective lithium resources.
Notice on Forward Looking Information
This press release contains statements that constitute "forward -looking information" ("forward-
looking information") within the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are forward-looking information and are based
on expectations, estimates and projections as at the date of this news release. Any statement
that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases such as "expects", or "does not
expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled",
"forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating
that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur
or be achieved) are not statements of historical fact and may be forward-looking information.
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. Such factors and risks include, among others. risks
associated with the business of HeliosX; business and economic conditions in the lithium industry
generally; changes in commodity prices; changes in interest and currency exchange rates;
government action or delays in the receipt of government or regulatory approvals, industrial
disturbances or other job action, and unanticipated events related to health, safety and
environmental matters); changes in general economic conditions or conditions in the financial
markets; changes in laws; risks related to the direct and indirect impact of COVID -19 including,
but not limited to, its impact on general economic conditions, the ability to obtain financing as
required; and other risk factors as detailed from time to time including the ris k factors set out in
HeliosX’s annual information form for the year ended November 30, 2021 filed on SEDAR at
www.sedar.com. HeliosX does not undertake to update any forward- looking information, except
in accordance with applicable securities laws. The foregoing list of assumptions is not exhaustive.
Forward-looking statements in this document include, among others, statements relating the
completion of the Private Placement.
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 release.
HELIOSX LITHIUM AND TECHNOLOGIES CORP.
(signed) "Christopher Brown"
Christopher Brown, P.Eng
Chief Executive Officer
For further information:
Telephone: (403) 812-0568
Email: [email protected]