Hertz Files Amended and Restated Interim FS and MD&A for Q2
LEGAL_41281845.2
HERTZ LITHIUM INC.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
HERTZ LITHIUM INC. FILES AMENDED AND RESTATED INTERIM
FINANCIAL STATEMENTS AND MANAGEMENT DISCUSSIONS &
ANALYSES
VANCOUVER, June 9, 2023 – Hertz Lithium Inc. (the “Company”) (CSE: HZ) (FSE: QE2) announces
that it has filed amended and restated condensed interim financial statements and related management
discussion and analysis for the three and six month period s ended January 31, 2023 (the “Financial
statements”). The amendment and restatement s are pursuant to the review of the Financial statements by
the Company’s auditors. Consequently, the following adjustments have been identified and corrected:
Adjustment 1 – correction of under recorded stock-based compensation of $12,700 and $12,700 for the
three and six months ended January 31, 2023, respectively.
Adjustment 2 - reclassification of legal fees relating to financing to deferred financing charges of $47,400
and $47,400 for the three and six months ended January 31, 2023, respectively.
As a result of these adjustments, the Company’s total assets increased by $47,400 from $514,896 to
$562,296 as at January 31, 2023 , and the Company’s net loss decreased by $34,700 from 524,085 to
$489,385 for the six months ended January 31, 2023. These adjus tments have no material impact on the
Company’s statement of cash flows for the six months ended January 31, 2023 and the basic and diluted
loss per share for the three and six months ended January 31, 2023.
About Hertz Lithium Inc.
Hertz Lithium Inc. is a British Columbia based mineral exploration company primarily engaged in the
acquisition and exploration of mineral properties. The Company currently has one material mineral
property, the Lucky Mica Project, located in the Arizona Pegmatite Belt in the Maricopa County of Arizona,
USA, which is in the exploration stage. The Company is also working with the PSRF in the development
of a novel lithium extraction technology. https://hertzlithium.com
For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedar.com.
On Behalf Of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: [email protected]
https://hertzlithium.com
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LEGAL_41281845.2
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced
herein and has neither approved nor disapproved the contents of this news release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release includes certain statements that may be deemed “forward -looking statements”. All
statements in this new release, other than statements of historical facts, that address events or developments
that the Company expects to occur, are forward -looking statements. Forward -looking statements are
statements that are not historical facts and are generally, but not always, identified by the words “expects”,
“plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and simil ar
expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although
the Company believes the expectations expressed in such forward -looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Factors that could cause the actual results
to differ materially from those in forward-looking statements include market prices, continued availability
of capital and financing, and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company’s management on the date the statements are
made. Except as required by applicable securities laws, the Company undertakes no obli gation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.