Gold Lion Announces Letter of Intent Respecting Battery Recycling Technologies
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
GOLD LION RESOURCES
INC.
NEWS RELEASE
Gold Lion Announces Letter of Intent Respecting Battery Recycling Technologies
Vancouver, British Columbia / June 23, 2022 – Gold Lion Resources Inc. (“Gold Lion” or the
“Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) announces that it has signed a binding letter of
intent dated June 22, 2022 (the “LOI”) with Sustainable Li-Ion Research Inc. (“SLIR”) in respect of a
proposed transaction (the “Proposed Transaction”), whereby the Company would acquire all of the
issued and outstanding securities of SLIR by way of a share exchange agreement. SLIR’s principal asset
and undertaking is its interest , through a wholly- owned subsidiary, in a license agreement and a
sponsored research agreement in the field of the recycling of lithium-ion batteries.
The Proposed Transaction is intended to further the Company’s objective of complementing its ongoing
exploration activities, which objective was previously announced by the Company on June 13, 2022.
Commented, Guy Bourgeois CEO of Gold Lion, “The need for li -ion battery recycling is growing at a
compelling pace and Gold Lion’s Special Committee is thoroughly evaluating the technology and cost-
effective process to recover strategic battery materials like copper, cobalt, lithium, nickel, manganese
and zinc. We believe that the strategic acquisition of Sustainable Li-Ion Research Inc. will allow us to
leverage a unique technology licensing opportunity from a leading Singapore University, which will
create higher value for shareholders.”
The Proposed Transaction
Pursuant to the Proposed Transaction, the Company will issue common share in its capital (the
“Consideration Shares”) to the holders of common shares in the capital of SLIR at a deemed price per
Consideration Share that is the greater of (i) $0.05, and (ii) the minimum price allowed pursuant to the
policies of the Canadian Securities Exchange (the “CSE”), representing aggregate consideration to be
determined and mutually agreed upon by the parties with reference to a pending valuation of SLIR ,
expected to be in the range of $300,000 to $500,000.
The Proposed Transaction will be completed pursuant to available prospectus exemptions in accordance
with applicable securities legislation.
The Company and SLIR have agreed to negotiate in good faith the terms of a definitive agreement with
respect to the Proposed Transaction within 30 days from the LOI.
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
The Company also agreed to pay a refundable deposit of up to $100,000 to SLIR to be used towards
costs and expenses connected to SLIR’s business. If the LOI is terminated for any reason other than the
execution of a definitive agreement, the deposit payments shall be returned to the Company by SLIR
within 30 days, without interest.
The Proposed Tr ansaction is subject to receipt of all necessary regulatory approvals, including, as
applicable, approval of the CSE, completion of due diligence reasonable or customary in a transaction of
a similar nature, and entering into a definitive agreement, among other conditions. The Proposed
Transaction would be an arms- length transaction for the Company and would not constitute a
fundamental change or result in a change of control of the Company, within the meaning of the policies of
the CSE.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its
precious metal focused portfolio including Black Lake, Cuteye and Fairview Properties located in British
Columbia, Saskatchewan and Idaho, USA. For more i nformation please visit:
https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Guy Bourgeois, CEO
T: 902.225.8881
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the
accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Often, but not always, forward -looking information and information can be
identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”,
“estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be
taken, occur or be achieved. Forward- looking information in this news release includes statements
regarding: assumptions that are subject to significant risks and uncertainties, including assumptions that
all conditions to the closing of the Proposed Transaction will be sat isfied and that the Proposed
Transaction will be completed on the terms set forth in the LOI. The forward -looking information
reflects management's current expectations based on information currently available and are subject to a
number of risks and uncertainties that may cause outcomes to differ materially from those discussed in
the forward-looking information. Such risk factors may include, among others, the risk that required
approvals and the satisfaction of material conditions are not obtained in connection with the Proposed
Transaction, the risk that the Proposed Transaction is not approved or completed on the terms set out in
the LOI or that a definitive agreement will be entered into in connection therewith. Although the
Company believes that the assumptions and factors used in preparing the forward-looking information
are reasonable, undue reliance should not be placed on such information and no assurance can be given
that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other
factors beyond the control of the Company. New risk factors emerge from time to time, and it is
impossible for the Company’s management to predict all risk factors, nor can the Company assess the
impact of all factors on Company’s business or the extent to which any factor, or combination of factors,
may cause actual results to differ from those contained in any forward- looking information. The
forward-looking information included in this news release are made as of the date of this news release
and the Company expressly disclaims any intention or obligation to update or revise any forward-looking
information whether as a result of new information, future events or otherwise, except as required by
applicable law. Additional information identifying risks and uncertainties that could affect financial
results is contained in the Company’s filings with Canadian securities regulators, which are available at
www.sedar.com.