Lithium Ionic Acknowledges Receipt of Shareholder Requisition
Lithium Ionic Acknowledges Receipt of Shareholder Requisition
TORONTO, ON, April 14, 2026 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE:
H3N) (“Lithium Ionic” or the “ Company”) advises that it has received a requisition letter
from Waratah Capital Advisors Ltd. (“Waratah”) requesting that the Company’s Board of
Directors (the “Board”) call a special meeting of the shareholders of the Company to
remove and replace David Gower, Lawrence Guy and Hélio Diniz (collectively, the
“Named Directors”) as directors of the Company.
The Company, including the Board and the Special Committee (as defined below) , are
reviewing the requisition and will respond to the requests made by Waratah. The Special
Committee has advised the Named Directors that their resignations as directors would be
in the best interest of the Company. The Company expects to provide a further update
when available. Shareholders are not required to take any action at this time.
Waratah’s letter and request relates to a previously announced enforcement application
dated April 9, 2026, initiated by the Ontario Securities Commission (the “OSC”) against
certain directors of the Company and another reporting issuer. Lithium Ionic is not a
respondent in this matter and no orders have been sought against Lithium Ionic. The
allegations contained in the proceeding have not been proven. The Board has established
a special committee (the “Special Committee”) comprised of independent directors to
oversee the Company’s communications and disclosure in respect of this matter.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian lithium development company focused on responsibly
advancing its 100% -owned Bandeira Lithium Project in Minas Gerais, Brazil, a region
coined the “ Lithium Valley” that is emerging as a world- class hard-rock lithium district.
The Company is executing on a focused development strategy centered on engineering
de-risking, permitting advancement, commercial planning, and construction readiness,
with the goal of becoming a near-term producer of high- quality spodumene concentrate
for global battery supply chains.
For further information:
Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
+1 647.316.2500
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable
securities laws. All statements contained herein that are not historical in nature contain
forward-looking information. Forward- looking information can be identified by words or
phrases such as “ may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”,
“intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or
other similar words, expressions and grammatical variations thereof, or statements that
certain events or conditions “ may” or “will” happen, or by discussions of strategy. The
forward-looking information contained in this press release, includes, but is not limited to,
the calling of a shareholders’ meeting as requested by Waratah, the taking of any steps
by the Company in response to Waratah’s concerns, the outcome of recent regulatory
proceedings against another reporting issuer and certain individuals, the Company’s
ability to finance and develop the Bandeira project, the prospectivity and development of
the Company’s mineral properties, the ability of the Company to become a near-term
lithium producer and the Company’s future plans.
The forward-looking information contained herein is made as of the date of this press
release and is based on assumptions management believed to be reasonable, including
management's perceptions of historical trends, current conditions and expected future
developments, as well as other considerations that are believed to be appropriate in the
circumstances. While we consider these assumptions to be reasonable based on
information currently available to management, there is no assurance that such
expectations will prove to be correct.
By their nature, forward-looking information is subject to inherent risks and uncertainties
that may be general or specific and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove to be ac curate, that
assumptions may not be correct and that objectives, strategic goals and priorities will not
be achieved. A variety of factors, including known and unknown risks, many of which are
beyond our control, could cause actual results to differ materially from the forward-looking
information in this press release. Such factors include, without limitation: risks relating to
the market price of the Common Shares, regulatory risks, and risk's relating to the
Company's ability to execute its business strategy and the benefits realizable therefrom.
Additional risk factors can also be found in the Company's current MD&A and annual
information form, both of which have been filed under the Company's SEDAR+ profile at
www.sedar.com. Readers are cautioned not to put undue reliance on forward- looking
information. The Company undertakes no obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise,
except as required by applicable law. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
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 or has in any way approved or
disapproved of the contents of this press release.