Lithium Ionic Announces C$25 Million Bought Deal Financing
Lithium Ionic Announces C$25 Million Bought Deal Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, ON, July 13, 2023 – Lithium Ionic Corp. (TSXV: LTH; FSE: H3N) (“Lithium Ionic”
or the “ Company”) is pleased to announce that it has entered into an agreement with Clarus
Securities Inc. and Canaccord Genuity Corp. as co-lead underwriters on behalf of a syndicate of
underwriters (collectively, the "Underwriters") to purchase, on a bought deal private placement
basis, 11,904,900 common shares of the Company (the "Common Shares") at a price of C$2.10
per Common Share, for aggregate gross proceeds of C$25,000,290 (the "Offering"). The
Company has also granted to the Underwr iters an option to purchase an additional 1,785,735
Common Shares at the same price, exercisable by the Underwriters for a period of up to two days
prior to closing for additional gross proceeds of up to C$3,750,044.
Lithium Ionic plans to use the net pro ceeds of the Offering to continue mineral exploration and
development activities at its Brazilian properties and for working capital requirements and general
corporate purposes.
The Offering is scheduled to close on or about August 1, 2023, 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 to be issued under this Offering will be offered
by way of private placement exemptions in all the provinces and territories of Canada, and in the
United States on a private placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as amended. The Common Shares
issued under the Offering will carry a statutory hold period of four months and one day from the
closing date of the Offering.
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.
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 no rtheastern 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 achievements 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 fo rward-looking
information are reasonable, undue reliance should not be placed on them because the Company
can give no assurance that they will prove to be correct. When used in this press release, the
words “estimate”, “project”, “belief”, “anticipate”, “i ntend”, “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
of the Company’s mineral properties, the Offering, the expected use of proceeds of the Offering,
the Company’s exploration program and other mining projects and prospects thereof and the
Company’s future plans . Such statements and information reflect the current view of the
Company. Risks and uncertainties that may cause actual results to differ materially from those
contemplated in those forward -looking statements and information. By t heir 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, performanc e 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.
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.