(TheNewswire)
Vancouver, British Columbia – TheNewswire - January 16, 2024 – Lithium Lion MetalsInc. (“Lithium Lion” or the “Company”) (CSE:LLM) (OTC:GLIOF)(FSE:2BC) announces that the Company will beconsolidating all of its issued and outstanding common shares on thebasis of one (1) post-consolidated Share (each a " Post - Consolidated Common Share ") for every ten (10) pre-consolidated shares (each a" Pre-Consolidated Common Share ") held (the " Consolidation "). The Consolidation isintended to make the Company more attractive to potential newinvestors.
The Company's board of directors approved theConsolidation on January 11, 2024, and have set
January 19, 2024 as the record date of the Consolidation. Trading ofthe Post-Consolidated Common Shares on the Canadian SecuritiesExchange (" CSE ") is expected to commence on or aboutJanuary 18, 2024, subject to final approval by the CSE. The new CUSIPnumber will be 53681M205 and the new ISIN number will be CA53681M2058.The Company's name and stock symbol will remain unchanged followingthe Consolidation.
As of the date hereof, the Company currently has83,816,486 Pre-Consolidated Common Shares issued and outstanding. TheConsolidation will reduce the number of outstanding shares toapproximately 8,381,64 Post-Consolidated Common Shares issued andoutstanding.
Shareholders of the Company (other than those holdingcertificated shares who will be contacted by Lithium Lion directly)will automatically receive their Post-Consolidated Common Shareswithout any further action. Endeavor Trust Corporation will send eachregistered shareholder a DRS statement(s) representing thePost-Consolidation Common Shares. Shareholders who hold their sharesthrough an intermediary are encouraged to contact their intermediariesif they have any questions.
No fractional Shares will be issued under theConsolidation as fractional Shares will be rounded either up or downto the nearest whole number of Shares. Each fractional Share remainingafter conversion that is less than half of a Share will be cancelledand each fractional Share that is at least half of a Share will bechanged to one whole Share. The exercise price and number of Sharesissuable pursuant to the exercise of any outstanding convertiblesecurities, including incentive stock options and warrants, will alsobe adjusted in accordance with the Consolidation ratio.
About Lithium Lion Metals Inc.
Lithium Lion Metals Inc. is a mineral explorationcompany actively involved in the exploration of the 113N Project inBartouille and Ducros Townships in Quebec. For more information pleasevisit: https://www.lithuimlionmetals.com/ .
ON BEHALF OF THE BOARD OF DIRECTORS
David Beck Interim ChiefExecutive Officer
Head Office 305-1770 BurrardSt. Vancouver, British Columbia, V6J3G7
Telephone +1 (604) 4160569
Website www.lithiumlion.ca
Email info@lithiumlion.ca
The CSE and Information Service Provider have notreviewed and does not accept responsibility for the accuracy oradequacy of this release.
Forward-Looking Statements
This news release contains statements and informationthat, to the extent that they are not historical fact, constitute"forward-looking information" within the meaning ofapplicable securities legislation. Forward-looking information isbased on the reasonable assumptions, estimates, analysis and opinionsof management made in light of its experience and its perception oftrends, current conditions and expected developments, as well as otherfactors that management believes to be relevant and reasonable in thecircumstances at the date that such statements are made, but which mayprove to be incorrect. Forward-looking information involves known andunknown risks, uncertainties and other factors that may cause theactual results, performance or achievements of the Company to differmaterially from any future results, performance or achievementsexpressed or implied by the forward-looking information, including,but not limited to, the statements relating to the Company's financialperformance, business development and results of operations.Accordingly, readers should not place undue reliance on any suchforward-looking information. Further, any forward-looking statementspeaks only as of the date on which such statement is made. Newfactors emerge from time to time, and it is not possible for theCompany's management to predict all of such factors and to assess inadvance the impact of each such factor on the Company's business orthe extent to which any factor, or combination of factors, may causeactual results to differ materially from those contained in anyforward-looking statements. The Company does not undertake anyobligation to update any forward-looking information to reflectinformation, events, results, circumstances or otherwise after thedate hereof or to reflect the occurrence of unanticipated events,except as required by law including securities laws. Additionalinformation identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadiansecurities regulators, which are available at www.sedarplus.ca .
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