BLILF - Bearing Announces Upsize of Private Placement Financing
(TheNewswire)
Vancouver, British Columbia – TheNewswire - February 14, 2022 – (TSXV:BRZ) (OTC: BLILF ) Bearing Lithium Corp. (the " Company " or " Bearing ") is pleased toannounce that due to strong investor demand, the Company has increasedthe size of its previously announced private placement (the" Private Placement "). The Company willnow issue up to an aggregate of 16,000,000 common shares of the Company (the " Shares ") at a price of $0.25per Share for gross proceeds of up to $4,000,000.
Mr Gil Playford, Chairman and CEO, comments "we are delightedwith the strong response from existing and new shareholders toparticipate in this Private Placement and we expect to complete theclosing in the coming weeks."
Other than the increase in the size of the Private Placement, allother terms and conditions of the Private Placement remain unchanged,as described in the press release dated February 10, 2022. Allsecurities issued in connection with the Private Placement will be subject to a four-month and one day statutoryhold period under securities laws. The Private Placement remainssubject to the approval of the TSX Venture Exchange.
Bearing Lithium Corp (BRZ) is a pure-play lithium company focused onthe development of Chile’s next high-grade lithium mine. TheMaricunga JV, in which Bearing holds a 17.14% interest, is the highestquality pre-production lithium brine project in South America and hasone of the world’s highest-grade lithium resources at 1,167 mg/llithium and 8,500 mg/l potassium. The September 2021 NI 43-101compliant resource estimate for the deposit totals 2.9 Mt LCE now allclassified as Measured and Indicated. Over 67 million has beeninvested in the Maricunga Project to date.
For more information, please visit www.bearinglithium.com and www.sedar.com . BRZ.V.
For more Information, please contact:
Ray Baterina, Corporate Secretary Info@bearinglithium.com
604-262-8835
This press release contains "forward-looking information"within the meaning of applicable Canadian securities legislation.Forward-looking information includes, without limitation, statementsregarding the closing of the Private Placement and the use of proceedsfrom the Private Placement. Generally, forward-looking information canbe identified by the use of forward-looking terminology such as"plans", "expects" or "does not expect","is expected", "budget", "scheduled","estimates", "forecasts", "intends","anticipates" or "does not anticipate", or"believes", or variations of such words and phrases or statethat certain actions, events or results "may","could", "would", "might" or "willbe taken", "occur" or "be achieved".Forward-looking information is subject to known and unknown risks,uncertainties and other factors that may cause the actual results,level of activity, performance or achievements of Bearing, as the casemay be, to be materially different from those expressed or implied bysuch forward-looking information, including but not limited to:general business, economic, competitive, geopolitical and socialuncertainties; the closing of the Private Placement; risks associatedwith operation in foreign jurisdictions; and other risks inherent inthe mining industry. Although Bearing has attempted to identifyimportant factors that could cause actual results to differ materiallyfrom those contained in forward-looking information, there may beother factors that cause results not to be as anticipated, estimatedor intended. There can be no assurance that such information willprove to be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-lookinginformation. Bearing does not undertake to update any forward-lookinginformation, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or asolicitation of an offer to buy any of the securities in the UnitedStates. The securities have not been and will not be registered underthe United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or anystate securities laws and may not be offered or sold within the UnitedStates or to U.S. Persons unless registered under the U.S. SecuritiesAct and applicable state securities laws or an exemption from suchregistration is available.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS R ESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.
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