As consideration pursuant to the Transaction, the Company shall make the following payments to the vendor:
- Cash payment of the Brazilian Real equivalent of
US$2 million byJune 7, 2024 - Cash payment of the Brazilian Real equivalent
US$1 million byApril 4, 2025 - Issuance of 2.5 million shares of
Lithium Ionic byJune 18, 2024
The Salinas properties are approximately 100 kilometres North of its Itinga group of properties. Together, the Company controls 14,182-hectares within the “Lithium Valley”; a unique geological belt that hosts among the largest and highest-grade lithium-bearing pegmatites in the world.
The Company acquired the Salinas properties through the acquisition of Neolit in
Following 7 months of drilling between May and
A Preliminary Economic Assessment for Salinas is underway by independent Brazilian consultancy, GE21 Consultoria Mineral Ltda, based in
The Transaction is an expedited transaction pursuant to
Figure 1. Salinas Properties Location Map
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/71643bf7-91f8-4de9-95e6-7e55badf2758
On behalf of the Board of Directors of
Chief Executive Officer, Director
About
Qualified Persons
The scientific and technical information in this news release has been reviewed and approved by
Investor and Media Inquiries:
+1 647.316.2500
info@lithiumionic.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity and development of the Company’s mineral properties, the timing and results of a PEA on Salinas, the Transaction, TSXV approval of the Transaction, the Company’s ability to complete the Transaction, the Company’s ability to obtain adequate financing and the Company’s future plans. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Information and links in this press release relating to other mineral resource companies are from their sources believed to be reliable, but that have not been independently verified by the Company.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
![](https://ml.globenewswire.com/media/OTM2YmY2Y2UtYzk3Ny00YjYyLTk1ZDMtNjlmYjFiYzkwNTYzLTEyNDQ1NzY=/tiny/Lithium-Ionic-Corp-.png)
Figure 1
![](https://ml.globenewswire.com/media/71643bf7-91f8-4de9-95e6-7e55badf2758/medium/figure-1.jpg)
Salinas Properties Location Map
2024 GlobeNewswire, Inc., source