LiCo Energy Closes Post-Consolidated Financing
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521-0207
LiCoEnergyMetals.com
LiCo Energy Closes Post-Consolidated Financing
PRESS RELEASE
Vancouver, BC – February 6, 2020 – LiCo Energy Metals Inc. (“the Company“ or “LiCo”) TSXV:
LIC, OTCQB: WCTXF announces that further its news release dated January 17, 2020 the Company
has closed a non -brokered private placement of 12,000,000 Units (“Units”) at a price of $0.05 per
Unit raising gross proceeds of $600,000.
Each Unit consists of one common share of the Company 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 five years from closing, subject to
final TSX Venture Exchange (“Exchange”) approval.
The proceeds of the Private Placement will be used for exploration and development and for general
working capital purposes.
The Company also paid Finder fees in the amount of 1,262,500 shares and 300,000 finder warrants
in connection with the private placement. The finder’s warrants are on the same terms as the private
placement warrants. The finder fees are 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 expiring on June 7, 2020 in accordance with applicable Canadian Securities Laws.
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 re ceived 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.
2
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.