Lithium ION Energy Announces Completion of Debt Settlement
Lithium ION Energy Announces Completion of
Debt Settlement
Toronto, Ontario--(Newsfile Corp. - June 28, 2024) - Lithium ION Energy Ltd. (TSXV: ION) (OTCQB:
IONGF) (FSE: ZA4) ("
ION
" or the "
Company
") further to the announcement of March 13, 2024, confirms
that it has completed debt settlement agreements with certain arm's length and non-arm's length
creditors. Pursuant to the debt settlement agreements, the Company has settled an aggregate amount of
$98,419 in debt, in consideration for which it will issue an aggregate of 393,675 common shares (the
"
Shares
") of the Company at a deemed price of $0.25 per Share.
All Shares issued in relation to these debt settlements will be subject to a hold period expiring four
months and one day after the date the Shares are issued, in accordance with applicable securities laws
and the policies of the TSXV.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: Z4A) is committed to exploring and
developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare
Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in
Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in
Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT,
Canada, ION has enhanced its lithium asset and jurisdiction profile. 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.sedarplus.ca
.
For further information:
COMPANY CONTACT: Ali Haji,
, 647-871-4571
MEDIA CONTACT: Siloni Waraich,
, 416-432-4920
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
news release.
Cautionary Note Regarding Forward-Looking Information
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 involve 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, anticipated regulatory approvals and completion and timing of closing of the
debt settlement. Important factors that could cause actual results to differ materially from Ion'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 accurate 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/214955