Edison Lithium Announces Termination of LOI for Sale of Majority Stake in Argentinian Lithium Properties
Edison Lithium Announces Termination of LOI
for Sale of Majority Stake in Argentinian Lithium Properties
Vancouver, British Columbia, June 10, 2024 – Edison Lithium Corp. (TSXV: EDDY, OTCQB:
EDDYF; FSE: VV0) (“Edison” or the “Company”) announces the termination of its previously announced
letter of intent with Meteor Energy, LLC , for the sale of 100% of the Company’s interest in its Argentina
subsidiary, Resource Ventures S.A. (“ReVe”). ReVe controls the rights to prospective lithium brine claims in
the province of Catamarca, Argentina. The Company is now in discussions with several other parties interested
in acquiring the Company’s Argentinian lithium properties, but has not reached any further sale agreements as
at the date of this news release.
The Company also announces that due to challenging market and financing conditions it is postponing the
completion of its previously announced spin-out by way of plan of arrangement involving the Company’s
wholly-owned subsidiary, Edison Cobalt Corp. (the “Spin-Out”) until further notice. The Spin-Out received
court and shareholder approval earlier this year and remains subject to final acceptance by the TSX Venture
Exchange.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement,
exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company’s
acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties
in areas with proven geological potential. Edison is building a portfolio of quality assets capable of
supplying critical materials to the battery industry and intends to capitalize on and have its shareholders
benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
“Nathan Rotstein”
Nathan Rotstein
Chief Executive Officer and Director
For more information please contact:
Tel: 416-526-3217
Email: [email protected]
Website: www.edisonlithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements
that are not historical facts, including statements about Edison’s beliefs and expectations, are forward -
looking statements. Forward -looking statements involve inherent risks and uncertainties and a number of
factors could cause actual results to differ materially from those contained in any forward -looking
statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,”
“will,” “will be”, “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“potential,” “continue,”, “proposes”, “contemplates”, “is/are likely to” or other similar expressions. All
information provided in this news release is as of the date of this news, and the Company undertakes no
duty to update such information, except as required under applicable law.
Forward-looking statements in this press release relate to, among other things : further sale agreements and
successful negotiation with a new interested party for the disposition and the anticipated timing of
completion of the spin-out. Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from those
anticipated in such statements. Forward -looking statements reflect the beliefs, opinions and projections of
management on the date the statements are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are inherently subject to significant business,
economic, competitive, political and social uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by such forward -looking
statements and the parties have made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: determination of acceptable terms for a future transaction
with a new interested party and the improvement of market and financing conditions required to complete
the spin-out transaction. Readers should not place undue reliance on the forward -looking statements and
information contained in this news release concerning these times. Except as required by law, the Company
does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.