LiCo Energy Announces Consolidation and Post-Consolidated Financing
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521-0207
LiCoEnergyMetals.com
LiCo Energy Announces Consolidation and Post-Consolidated Financing
PRESS RELEASE
Vancouver, BC – January 17, 2020 – LiCo Energy Metals Inc. (“the Company“ or “LiCo”) TSXV:
LIC, OTCQB: WCTXF announces that in order for the Company to evaluate and reorganize its current
exploration programs and to better finance the Company, the shareholders of the Company and the
Board of Directors have approved and authorized a consolidation of the Company's issued and
outstanding shares on a 2 old for 1 new basis, consolidating its 27,516,597 currently outstanding
shares to 13,758,348 shares.
The Company will not be issuing fractional shares as a result of the consolidation. Instead, all
fractional shares equal or greater to one-half will be rounded to the next whole share. The Company's
outstanding stock options and share purchase warrants will be adjusted upon completion of the
consolidation.
The Company does not intend to change its name or seek a new stock trading symbol from in
connection with the Consolidation. The Company’s shares will continue to trade under the symbol
“LIC”. The consolidation remains subject to TSX Venture Exchange (“Exchange”) approval.
A letter of transmittal will be sent to the registered shareholders providing instructions to surrender
the share certificates evidencing their pre-consolidated common shares for replacement certificates
of LiCo representing the number of post-consolidated common shares they are entitled to as a result
of the consolidation. Until surrendered, each certificate representing the pre-consolidated common
shares will be deemed to represent the number of post-consolidated common shares of LiCo Energy
Metals Inc. that the holder thereof is entitled to as a result of the consolidation.
The Company also announces a non-brokered private placement financing of up to 12,000,000 post-
consolidated units (“Units”) at a price of $0.05 per post-consolidated Unit for gross proceeds of up to
$600,000.
Each Unit is comprised of one common share and one share purchase warrant. Each share purchase
warrant will entitle the holder thereof to purchase one additional common share of the Company at
an exercise price of $0.05 per share for a period of two years from closing, subject to Exchange
approval.
Finder fees may be paid in connection with the private placement. Any finder fees will be subject to
Exchange approval.
All securities issued in connection with the private placement will be subject to a four-month and a
day hold period in accordance with applicable Canadian Securities Laws.
The proceeds of the Private Placement will be used for exploration and development and for general
working capital purposes.
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About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX
Venture Exchange. The Company's focus is directed towards exploration for high value metals integral to
the manufacture of lithium ion batteries.
Ontario Cobalt Properties: The Company has entered into an Option Agreement with Surge Exploration
Inc. (“Surge”) whereby Surge can earn an undivided 60% interest in the Glencore Bucke and the Teledyne
Cobalt Properties, located in Cobalt Ontario, subject to certain cash, share and exploration payments to
LiCo. Upon Surge having exercised the Option, Surge will have earned an undivided 60% interest in the
Cobalt Properties, and the parties will enter into a Commercially Reasonable and Definitive Joint Venture
Agreement.
LiCo has received an independent third-party fairness opinion from an experienced and qualified P.Geo.
relating to the Cobalt Properties. The fairness opinion confirms and concludes the terms of the Option
Agreement between the Company and Surge is fair to the shareholders of the Company.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 100%
interest, subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert,
Washoe County, Nevada.
On Behalf of the Board of Directors
“Rick Wilson”
Rick Wilson, President &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.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments
that involve future events and conditions, which are subject to various risks and uncertainties. Except for
statements of historical facts, comments that address resource potential, upcoming work programs,
geological interpretations, receipt and security of mineral property titles, availability of funds, and others
are forward-looking. Forward-looking statements are not guarantees of future performance and actual
results may vary materially from those statements. General business conditions are factors that could cause
actual results to vary materially from forward-looking statements.