Iconic Shareholders Approve Arrangement
LC398122-1
ICONIC SHAREHOLDERS APPROVE ARRANGEMENT
Vancouver, British Columbia – May 29, 2023 – Iconic Minerals Ltd. (the "Company"
or "Iconic") (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that
Iconic shareholder s have overwhelmingly approved all matters voted on at the annual
general and special meeting of shareholders (the " Meeting") held on May 26, 2023,
including the approval of the previously announced arrangement (the "Arrangement"),
whereby Nevada Lithium Resources Inc. (" Nevada Lithium") will acquire Iconic's 50%
interest in the Bonnie Claire Lithium project (see news release dated March 27, 2023).
An aggregate of 31,182,337 votes were cast at the Meeting with respect to the resolution
approving the Arrangement (the "Arrangement Resolution"), of which 29,208,087 votes
were cast in favour of the Arrangement Resolution, representing approximately 93.67% of
the total votes cast. 24,291,618 votes were cast by minority shareholders in respect of the
Arrangement Resolution, of which 22,317,368 votes representing approximately 91.87%
were cast in favour of the Arrangement Resolution.
Iconic will now make an application to seek final approval (the "Final Order") of the
Arrangement from the Supreme Court of British Columbia. The completion of the
Arrangement will be subject to receipt of all necessary approvals, including final
acceptance by the TSX Venture Exchange (the " TSXV") of the Arrangement, and
satisfaction by the parties of TSXV's closing conditions and other conditions customary in
transactions of this nature.
Further information on the Arrangement can be found in the Iconic management
information circular dated April 28, 2023, which is available on Iconic's SEDAR profile at
www.sedar.com.
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
For further information on Iconic, please visit our website at www.iconicminerals.com, or
contact: Keturah Nathe, VP Corporate Development at (604) 336-8614.
The Company's public documents may be accessed at www.sedar.com.
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.
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LC398122-1
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward -looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation .
All statements, other than statements of historic al fact, included herein including, without limitation, that
Iconic will be successful in obtaining the Final Order, the expected completion of the Arrangement , and the
anticipated business plans and timing of future activities of the Company, are forward -looking statements.
Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Often, but not always, forward looking information can be identified
by words such as "pro fo rma", "plans", "expects", "may", "will", "should", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words
including negative variations thereof, and phrases that refer to certain actio ns, events or results that may,
could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this
news release, the Company has applied several material assumptions, including without limitation, that
Nevada Lithi um and Iconic will obtain all necessary approvals for the Arrangement , that market
fundamentals will result in sustained lithium demand and prices, the receipt of any necessary permits,
licenses and regulatory approvals in connection with the future development of the Bonnie Claire project in
a timely manner, the availability of financing on suitable terms for the development, construction and
continued operation of the Bonnie Claire project, and the Company's ability to comply with environmental,
health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any future
results, performance or achieveme nts expressed or implied by the forward -looking information. Such risks
and other factors include, among others, operating and technical difficulties in connection with mineral
exploration and development and mine development activities at the Bonnie Claire project, estimation or
realization of mineral reserves and mineral resources, requirements for additional capital, future prices of
precious metals and copper, changes in general economic conditions, changes in the financial markets and
in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible
failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other
risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents
or authorizations required, including TSXV acceptance, financing or other planned activities, changes in
laws, regulations and policies affecting mining operations, currency fluctuations, title dispute s or claims
limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental
issues and liabilities, risks relating to epidemics or pandemics such as COVID 19, including the impact of
COVID 19 on the Company's busi ness, risks related to joint venture operations, and risks related to the
integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the
Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian
Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at
www.sedar.com.
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise
required by law, the Company undertakes no obligation to update any of the forward-looking information in
this news release or incorporated by reference herein.