Lithium Ionic Announces $15M Premium to Market Private Placement With Strategic Shareholders
Lithium Ionic Announces $15M Premium to Market Private Placement With
Strategic Shareholders
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
TORONTO, ON, June 3, 2024 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
(“Lithium Ionic” or the “Company”) announces a non-brokered private placement financing of
16,666,666 units (the “Units”) at $0. 90 per Unit for gross proceeds of $15, 000,000 (the
“Offering”) with long-term strategic shareholders of the Company that are supportive of the
Company’s strategy to become a near-term lithium producer in Brazil’s ‘Lithium Valley’, a region
of global significance for hard-rock lithium production.
Each Unit will be comprised of one common share in the capital of the Company (each a
“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant,
a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise
price of $1 .05 per Common Share for a period of 18 months following the completion of the
Offering. Securities issued under the Offering are expected to carry a hold period of 4 months and
one day from the date of issue as may be required under applicable securities laws.
The Company plans to use the aggregate net proceeds of the Offering for exploration and
development of its Brazilian properties and general corporate purposes.
Blake Hylands, P.Geo, Chief Executive Officer of Lithium Ionic, commented, “We are very grateful
for the ongoing support of our strategic shareholders. On the back of the recently announced
robust feasibility study, royalty financing and other positive developments, this Offering will allow
us to accelerate our pathway to becoming a near-term lithium producer.”
The Offering is scheduled to close on or about June 7, 2024 and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals including the approval of the
TSX Venture Exchange (“TSXV”).
The securities being offered have not, nor will they be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable
exemption from the U.S. registration requirements. This release does not constitute an offer for
sale of securities in the United States.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its flagship Itinga and Salinas projects cover 14,182 hectares in the northeastern part of
Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-
rock lithium district. The Itinga Project is situated in the same region as CBL’s Cachoeira lithium
mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.’s Grota do Cirilo
project, which hosts the largest hard-rock lithium deposit in the Americas.
Investor and Media Inquiries:
+1 647.316.2500
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “ forward-statements.” Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, performance or achievements, or developments to differ
materially from the anticipated results, performance or ac hievements expressed or implied by
such forward-looking statements. Although the Company believes, in light of the experience of its
officers and directors, current conditions and expected future developments and other factors that
have been considered appropriate that the expectations reflected in this forward -looking
information are reasonable, undue reliance should not be placed on them because the Company
can give no assurance t hat they will prove to be correct. When used in this press release, the
words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon or comparable terminology
are intended to identify forward- looking statements and information. The forward -looking
statements and information in this press release include information relating to the prospectivity
and development of the Company’s mineral properties, the Offering, the use of proceeds of the
Offering and the Company’s future plans. Such statements and information reflect the current
view of the Company. Risks and uncertainties that m ay cause actual results to differ materially
from those contemplated in those forward -looking statements and information. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, perfor mance or achievements expressed or implied
by such forward- looking statements. The forward- looking information contained in this news
release represents the expectations of the Company as of the date of this news release and,
accordingly, is subject to change after such date. Readers should not place undue importance on
forward-looking information and should not rely upon this information as of any other date. The
Company undertakes no obligation to update these forward-looking statements in the event that
management’s beliefs, estimates or opinions, or other factors, should change.
Information and links in this press release relating to other mineral resource companies are from
their sources believed to be reliable, but that have not been independently verified by the
Company.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press
release.