ION Announces Private Placement and Corporate Restructuring

Executive Summary

• Lithium ION Energy Ltd. announced a non‑brokered private placement of up to 15 million units at $0.04 per unit, targeting gross proceeds of up to $600 k (firm commitment of $400 k).
• The company refreshed its board and appointed Mr. Sreenath Didugu as Interim Chief Executive Officer, while resigning the prior CEO (Ali Haji) and two directors.
• Net proceeds will be used to maintain the existing exploration portfolio and for general working capital.

Key Details

• Private Placement Terms – Up to 15,000,000 units; each unit = one common share + one common share purchase warrant.
• Pricing & Proceeds – Purchase price $0.04 per unit; total gross proceeds targeted at $600,000; firm commitment received for $400,000 from Director Bataa Tumur‑Ochir.
• Warrant Terms – Each warrant allows purchase of one common share at $0.05, exercisable any time up to 24 months after the closing date, subject to TSXV approval.
• Statutory Hold Period – Units subject to a four‑month plus one‑day hold period from issuance.
• Use of Proceeds – To maintain existing exploration portfolio and for general working capital.
• Finder’s Fees – Company may pay eligible finders in connection with the offering, subject to securities law compliance.
• Regulatory Conditions – Completion of the offering and any finder fees are contingent on receipt of all required regulatory approvals, including TSXV approval.

Board Changes

• Resignations (effective immediately) – Ali Haji (CEO & Director), Aneel Waraich (Director), Enkhtuvshin Khishigsuren (Director).
• New Appointments – Mr. Sreenath Didugu appointed to the Board of Directors and as Interim Chief Executive Officer.
• Chairman’s Comment – Matthew Wood thanked departing members and welcomed Mr. Didugu, citing his expertise in corporate advisory, capital markets, and financing high‑potential mining ventures.

Notable Quotes

“The Board is pleased to welcome Sreenath as Interim Chief Executive Officer and a member of the Board. Sreenath's experience, leadership, and strategic insight will be instrumental as the Company undertakes its restructuring initiatives and positions itself to pursue future growth opportunities.” – Matthew Wood, Chairman

All boilerplate, forward‑looking statements, and disclaimer language have been omitted for brevity.