Lithium Ionic Comments on Statement of Claim Filed by Emerita Resources
Lithium Ionic Comments on Statement of Claim Filed by Emerita Resources
TORONTO, ON, July 30, 2026 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
("Lithium Ionic" or the "Company") announces that it has reviewed a statement of claim filed by
Emerita Resources Corp. ("Emerita") in the Ontario Superior Court of Justice on July 29, 2026.
The claim relates to the Falcon Project in Brazil, including cert ain mining claims that now form
part of the Company's Bandeira Project.
The statement of claim principally concerns allegations made against certain former directors and
officers of Emerita and Lithium Ionic, together with Falcon Metais Ltda, and also names Lithium
Ionicand and its subsidiary, MGLIT Empreendimentos Ltda.as a defendant. Among other things,
Emerita claims to have an equitable interest in the Bandeira Project and claims a constructive
trust over securities in Lithium Ionic held by the former directors and officers. None of the current
directors or officers of Lithium Ionic are named as defendants in the action.
The allegations contained in the statement of claim have not been proven.
Lithium Ionic disagrees with the allegations made against the Company and believes it is the
rightful owner of the Bandeira Project and related assets. The Company intends to respond
through the court process and will vigorously protect its rights, its ass ets and the interests of its
shareholders.
As the matter is now before the courts, the Company does not intend to comment further on the
substance of the allegations at this time, except as required by applicable law.
Lithium Ionic remains focused on advancing the Bandeira Project and executing on its
development strategy. The Company continues to progress engineering, permitting, commercial
planning and construction readiness activities at Bandeira and remains committed to acting in the
best interests of all shareholders.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
+1 647.316.2500
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.
Qualified Persons
The technical information in this news release has been reviewed and approved by Carlos Costa,
Vice President Exploration of Lithium Ionic, and Blake Hylands, P.Geo., CEO and director of
Lithium Ionic, who are both “qualified persons” as defined in Nationa l Instrument 43 -101 –
Standards of Disclosure for Mineral Projects. Messrs. Costa and Hylands are not considered
independent of the Company.
Cautionary Note Regarding Forward-Looking Information
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 in this news release includes, but is not limited
to, statements relating to: the completion and timing of the Transaction; the satisfaction of closing
conditions; the receipt of the upfront and deferred consideration; the Royalty and any payments
thereunder; the anticipate d use of proceeds; and the development of Bandeira, including the
timing of a construction decision. Forward -looking information can be identified by words or
phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “inte nd”,
“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 strateg y. There can be no assurance that such
statements will prove to be accurate and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could cause actual results to
differ materially from the Company’s expectations are risks detailed from time to time in the filings
made by the Company with securities regulations. Forward-looking information contained in this
news release is expressly qualified by this cautionary statement.
The forward-looking information contained herein is made as of the date of this news 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 its 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 accurate, 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 material ly from the forward -looking information in this news release. Additional
risk factors can also be found in the Company’s current MD&A and the Company’s other public
filings, all of which have been filed under the Company’s SEDAR+ profile at www.sedarplus.c a.
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 requi red by applicable law. Forward -
looking information contained in this news release is 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 news release.