Lithium ION Energy Announces Debt Settlement and Grant of Stock Options
Lithium ION Energy Announces Debt
Settlement and Grant of Stock Options
Toronto, Ontario--(Newsfile Corp. - March 13, 2024) - Lithium ION Energy Limited (TSXV: ION) (OTCQB:
IONGF) (FSE: ZA4) ("
ION
" or the "
Company
") announces that it has negotiated debt settlement
agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement
agreements, and subject to acceptance by the TSX Venture Exchange (the "
TSXV
"), the Company has
settled an aggregate amount of $143,669 in debt, in consideration for which it will issue an aggregate of
606,675 common shares (the "
Shares
") of the Company at a deemed price of $0.24 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.
The Company also announces that it has granted to certain consultants and insiders of the Company an
aggregate of 1,250,000 incentive stock options (the "Stock Options") to purchase common shares under
the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common
share of the Company at a price of $0.09 for a period of two years from the date of grant. The Stock
Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of
the TSX Venture Exchange.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and
developing high quality lithium resources in strategic jurisdictions. 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 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/201646