(TheNewswire)
Vancouver, British Columbia / TheNewswire / March 21, 2024 – Lithium Lion Metals Inc.(“Lithium Lion” or the “Company”) (CSE: LLM) , is pleased to announce that the Company has completed itsnon-brokered private placement (“ Private Placement ”)of units (“ Units ”) for gross proceeds of C$590,000 through the sale of 11,800,000 Units at aprice of C$0.05 per Unit. Each Unit is comprised of one common sharein the capital of the Company (a “ Common Share ”) and onecommon share purchase warrant (each a “ Warrant ”). EachWarrant will be exercisable into one Common Share at a price ofC$0.055 per share for two (2) years from the date of issue.
As the Private Placement offering exceeds 100 percentof the current issued and outstanding common shares, securityholderapproval was obtained pursuant to Canadian Securities Exchange(“ CSE ”) Policy 6.
An Insider of the Company has participated in theforegoing private placement offering which constitutes a "relatedparty transaction" as defined under Multilateral Instrument61-101 Protection of Minority Security Holders in Special Transactions(“ MI 61-101 ”). The party has contributed $10,000 or approximately1.69% of the offering. Such participation is exempt from the formalvaluation and minority shareholder approval requirements of MI 61-101as neither the fair market value of the securities acquired by theinsiders, nor the consideration for the securities paid by suchinsiders, exceed 25% of the Company's market capitalization.
The proceeds from the Private Placement are going to beused to fund exploration and for general working capital purposes. Allsecurities issued pursuant to the Private Placement are subject to afour month and one day hold period from the date of issue pursuant toNational Instrument 45-106 – Prospectus Exemptions . No finder’s fees arepaid in relation to the Private Placement.
About Lithium Lion Metals Inc.
Lithium Lion Metals Inc. is a mineral explorationcompany actively involved in exploring the 13N Project which consistsof 59 mining claims covering approximately 3,107 hectares located inBartouille and Ducros townships in Quebec. For more information pleasevisit: www.lithiumlion.ca
ON BEHALF OF THE BOARD OFDIRECTORS
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 Information
Certain information in this news release may constitute"forward-looking" information that involves known andunknown risks, uncertainties, future expectations and other factorswhich may cause the actual results, performance or achievements of theCorporation or industry results, to be materially different from anyfuture results, performance or achievements expressed or implied bysuch forward looking information. When used in this news release, thisinformation may include words such as "anticipate","estimate", "may", "will","expect", "believe", "plan" and otherterminology. This information reflects current expectations regardingfuture events and operating performance and speaks only as of the dateof this news release.
Except as required by law, we assume no obligation toupdate or revise forward-looking information to reflect new events orcircumstances. Additional information is available in theCorporation’s Management Discussion and Analysis, which canbe found on SEDAR+ at www.sedarplus.ca .
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