LithiumBank Resources Receives DTC Eligibility
LithiumBank Resources Receives DTC Eligibility
VANCOUVER, British Columbia, May 20, 2022 -- LithiumBank Resources Corp. (“LithiumBank” or the “Company”) (TSX-
V: LBNK) is pleased to announce its commons shares have been made eligible to facilitate electronic clearing and settlement
in the United States.
The Depository Trust Company (“ DTC”) manages the electronic clearing and settlement of publicly traded companies.
Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic
method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for
investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.
Obtaining DTC eligibility represents the company's commitment to increasing visibility and accessibility for all its shareholders
in the United States. It enables LithiumBank to expand its reach to a larger portion of the global investment community, while
providing a more efficient and seamless trading process.
The Company is also making its application to list on the OTCQX and will provide an update as to the listing progress in the
coming months. Rob Shewchuk, Chairman and CEO stated,” listing on the OTCQX will be an especially important milestone
for LithiumBanks current and prospective shareholders. The Company looks forward to broadening its exposure in the United
States.”
About LithiumBank Resources Corp.
LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in
Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.2
million acres of mineral titles, 2.82M acres in Alberta and 326K acres in Saskatchewan. LithiumBank’s mineral titles are
strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that
are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in
parallel of the Sturgeon Lake Lithium Brine Project.
Contact:
Robert Shewchuk
CEO & Director
(778) 987-9767
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.
Cautionary Statement Regarding Forward Looking Statements
Forward Looking Information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable
securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the
Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future
events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is expected", "will", "predicts", "projects", "intends", "targets",
"aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified
by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be
achieved. These forward-looking statements include, among other things, statements relating to: LithiumBank’s intention to
make an application to list on the OTCQX and provide an update as to the listing progress and LithiumBank’s expectation to
broaden its exposure in the United States. Such forward-looking statements are based on a number of assumptions of
management, including, without limitation, assumptions regarding: (a) the Company’s ability to obtain any necessary
approvals required to make an application to list on the OTCQX, (b) the accuracy of the Company’s cost and timing
expectations associated with making the application and proceeding with the listing, (c) the impact that the listing will have on
LithiumBank’s exposure in the United States; and (d) that the Company will be successful in completing its listing on the
OTCQX and receive the expected benefits. Additionally, forward-looking information involve a variety of known and unknown
risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or
achievements of LithiumBank to be materially different from any future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) The
Company’s ability to make an application to list on the OTCQX and broaden its exposure in the United States could be
adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and
regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact the Company’s OTCQX listing
plans; (c) the failure of the Company to obtain any necessary approvals required to make the listing application; (d)
unanticipated costs; (e) risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global
markets; and (f) the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering
prospectus dated March 1, 2022 available for review on the Company's profile at www.sedar.com, many of which are beyond
the ability of the Company to control or predict. Such forward-looking information represents management's best judgment
based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither
LithiumBank nor any of its representatives make any representation or warranty, express or implied, as to the accuracy,
sufficiency or completeness of the information in this press release. Neither LithiumBank nor any of its representatives shall
have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the
information in this press release by you or any of your representatives or for omissions from the information in this press
release.