Heliosx Lithium & Technologies Corp. Year End Update
HELIOSX LITHIUM & TECHNOLOGIES CORP. YEAR END UPDATE
CALGARY, ALBERTA, December 30, 2022 – HeliosX Lithium & Technologies Corp. (“HeliosX”
or the “Company”) (TSXV: HX) (OTC: HXLTF) (FSE: C2U0) announces the following:
Adoption and Approval of Securities Option Plans by the TSX Venture Exchange
The board of directors of the Company adopted a restricted share units ( the "RSUs") plan (the
"RSU Plan") and a new stock option plan (the "2022 Stock Option Plan") in April 2022.
The maximum number of RSUs issuable under the RSU Plan together with the number of stock
options issuable under the 2022 Stock Option Plan may not exceed 20% of the number of issued
and outstanding common shares of the Company as at the date of a grant under the RSU Plan
or the 2022 Stock Option Plan, as the case may be. Based on the number of common shares
currently outstanding, an aggregate of 7,223,180 RSUs and/or options can be granted pursuant
to the RSU Plan and/or the 2022 Stock Option Plan. The Company currently has 3,385,000
options outstanding, leaving 3,600,000 RSUs and 238,180 options available for grant. The RSU
Plan and the 2022 Stock Option plan have been approved by the TSX Venture Exchange. The
Company received approval from disinterested shareholder at the annual and special meeting of
the shareholders held on June 24, 2022 (the "Shareholders' Meeting").
Details regarding the RSU Plan and the 2022 Stock Option Plan were included in the management
information circular of the Company which was sent to shareholders and filed on SEDAR in
connection with the Shareholders' Meeting.
Cancellation of previously announced non-brokered private placement
The Company and the Institutional Investor have mutually agreed to cancel their previously
announced non-brokered private placement offering announced on July 25, 2022 and extended
on October 25, 2022.
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 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. The Company holds over 830,000
lithium brine gross acres across three prospective lithium jurisdictions, providing potential
exposure to multiple lithium brine play types.
ALBERTA, CANADA: 583,952 acres (236,317 hectares) near existing Lithium occurrences. Two
Lithium brine samples averaged 58 mg/L. Feasibility study from previous regional results to
determine a drill program. Working with Direct Lithium Extraction companies to identify the optimal
technology for a Demonstration Facility.
JUJUY PROVINCE, ARGENTINA : 230,000 acres (~93,000 hectares) in Salinas Grandes and
Guayatoyoc salars. HeliosX is a 49% shareholder (and a subsidiary of Pluspetrol is a 51%
shareholder) in a company that holds the Argentina assets. 60% of Lithium assay results from 25
shallow pits returned assay grades more than 500 mg/l and 16% in excess of 800 mg/l. Lithium
brine assays ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l.
TEELS MARSH, NEVADA, USA: 7,914 acres (3,202 hectares), 100% owned, 2.5-kilometer-deep
basin, located 80 kilometers NW of Albemarle’s Silver Peak Mine. Surface exploration, road
building and construction of two drill pads for four production diameter exploration wells is
completed. Water rights have been granted and permits for drilling are in place. Near surface
Lithium brine samples up to 330 mg/l.
ALKALI LAKE, NEVADA, USA: 8,825 acres (3,571 hectares) at Alkali Lake, Esmeralda County,
Nevada. The project is 11.2 kilometers from Albemarle’s Silver Peak Mine in Clayton Valley - the
only producing Lithium brine operation in the USA. Near surface Lithium brine samples up to 382
mg/l.
HeliosX Lithium and Technologies Corp.
(signed) "Christopher Brown", CEO
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 release.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the Company's current
expectations and estimates. Forward- looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest",
"indicate" and other similar words or statements that certain events or conditions "may" or "will"
occur. Forward-looking statements include, but are not limited to, the terms of the Offering, the
anticipated use of proceeds, the completion of the Offering and the estimated closing date.
Such forward -looking statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially from estimated or anticipated
events or results implied or expressed in such forward-looking statements. Such risks include, but
are not limited to, the failure to complete the Offering in the timeframe and on the terms as
anticipated by management, market conditions and the ability to obtain all necessary regulatory
approvals. There is some risk that the forward -looking statements will not prove to be accurate,
that the management's assumptions may not be correct or that actual results may differ materially
from such forward-looking statements. Accordingly, readers should not place undue reliance on
the forward-looking statements. Any forward -looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement, whether as a result of
new information, future events or results or otherwise. Forward- looking statements are not
guarantees of future performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
For further information please contact: Christopher Brown, P. Eng, CEO or Andrew Best, Director
Commercial Marketing, Call: (403) 812-0568 or Email: [email protected] or visit our website at
www. heliosx.ca