Announcing Closing of Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
GLOBAL LI-ION CLOSES
PRIVATE PLACEMENT
Vancouver, British Columbia -- September 3, 2020 -- Global Li-Ion Graphite Corp. ("Global Li-Ion" or the “Company”) (Canadian Securities
Exchange: LION) is pleased to announce that it has completed the non-brokered private placement (the "Offering") described in its news release of
August 27, 2020. In connection with the closing of the Offering, the Company issued an aggregate of 9,000,684 units (the "Units") at a price of
CDN$0.06 per Unit for gross proceeds of CDN$540,041. Each Unit consists of one common share in the capital of the Company (a “Share”) and one
whole transferable common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to acquire one Share at an exercise price of
CDN$0.10 per Share until September 3, 2022 which is 24 months from the date of issuance.
Insiders of the Company acquired an aggregate of 383,334 Units in the Offering, which participation constituted a "related party transaction" as defined
under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt
from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the
insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company's market capitalization.
Global Li-Ion intends to use the net proceeds of the Offering for general working capital.
The Company will pay no finder's fees in connection with subscriptions from subscribers introduced to this Offering.
The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold
period expiring four months and one day from the date of issuance of such securities.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and development company focused on the acquisition and development of Graphite projects with an intent to
supply the rapidly growing energy storage industry. Each Li-Ion Battery requires Graphite, Lithium, Cobalt and nickel. Global Li-Ion Graphite is
actively evaluating additional projects for acquisition to build a world-class Graphite supply company.
Geoff Watson
Director, Chief Financial Officer and Corporate Secretary
Global Li-Ion Graphite Corp.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-
looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of
the Offering, the use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations and objectives. In this news
release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and
the negative form thereof are used to identify forward-looking information. Forward looking information should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be
achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect
to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the
Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information
made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed
by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at
www.sedar.com under the Company’s profile and on the Company’s website, https://globalli-iongraphite.com/. The forward-looking information set
forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims
any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise,
other than as required by law.
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