ION Energy Ltd. Announces Upsize to Previously Announced Bought Deal Offering to C$5 Million
NEWS RELEASE
ION Energy Ltd. Announces Upsize to Previously Announced Bought
Deal Offering to C$5 Million
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISEMMINATION IN THE UNITED STATES
TORONTO, March 17, 2021 / CNW / – ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB)
(“ION” or the “ Company”) is pleased to announce that ION has entered into an agreement with PI
Financial Corp. as lead underwriter (” PI”) on its own behalf and on behalf of a syndicate of
underwriters (together with PI, the “ Underwriters”) to increase the size of the previously announced
bought deal financing to an aggregate of 10,000,000 units of the Company (the “Units”) at a price of
C$0.50 per Unit (the "Offering Price") for gross proceeds of C$5,000,000 (the "Offering").
Each Unit shall consist of one common share and one common share purchase warrant (each whole
such common share purchase warrant, a “ Warrant”). Each Warrant shall be exercisable into one
additional common share (“Common Share”) of the Company for thirty six (36) months from closing
at an exercise price of $0.70 per Common Share. ION intends to use the net proceeds of the offering
to fund exploration at the Company’s lithium brine projects and for general working capital purposes.
The Company w ill grant the Underwriters an option to increase the size of the Offering by up to 15%
(the “ Underwriters’ Option”). The Underwriters’ Option may be exercised in whole or in part by
written notice to the Company within 30 days following the closing of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of
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.
Closing of the Offering is expected on or about April 13, 2021 and is subject to regulatory approval
including that of the TSX Venture Exchange.
About ION Energy Ltd.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB) is committed to exploring and
developing Mongolia’s lithium salars. ION’s flagship, 81,000+ hectare Baavhai Uul lithium brine
project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also
holds the 19,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi
Province in Mongolia. ION is well -poised to be a key player in the clean energy revolution, positioned
well to service the world’s increased demand for lithium. Information about the Company is available
on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
For further information:
NEWS RELEASE
MEDIA CONTACT: Siloni Waraich, [email protected], 416-432-4920
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regul ation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking
statements include estimates and statements that describe the Company’s future plans, objectives
or goals, including words to the effect that the Company or management expects a stated condition
or result to occur. Forward-looking statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking
statements are based on assumptions and address future events and conditions, by their very
nature they invol ve inherent risks and uncertainties. Although these statements are based on
information currently available to the Company, the Company provides no assurance that actual
results will meet management’s expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release includes, but is not limited to, the
Company’s objectives, goals or future plans, statements, potential mineralization, exploration and
development results, the estimation of mineral resources, exploration and mine development plans,
timing of the commencement of operations and estimates of market conditions. Important factors
that could cause actual results to differ materially from Ion Energy’s expectations include, among
others, uncertainties relating to availability and costs of financing needed in the future, changes in
equity markets, risks related to international operations, the actual results of current exploration
activities, delays in the development of projects, conclusions of economic evaluations and changes
in project parameters as plans continue to be refined as well as future prices of lithium, and ability to
predict or counteract potential impact of COVID -19 coronavirus on factors relevant to the Company’s
business. There can be no assurance that forward-looking statements will prove to be ac curate and
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.