Lithium Ion Energy increases financing to $1.5-million

Executive Summary

• Lithium Ion Energy Ltd. has upsized its previously announced non-brokered private placement, increasing the aggregate proceeds from $600,000 to $1.5 million due to strong investor demand.
• The company will issue 37.5 million units at a price of $0.04 per unit, with each unit consisting of one common share and one common share purchase warrant.
• Net proceeds will be utilized to maintain the company's existing exploration portfolio and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Upsized Amount: Increased from $600,000 to $1.5 million.
• Units Issued: 37.5 million units.
• Price Per Unit: $0.04.
• Gross Proceeds: Up to $1.5 million.
• Warrant Terms: Each unit includes one common share purchase warrant.
  • Exercise Price: $0.05 per common share.
  • Expiration: 24 months from the closing date (subject to TSX-V approval).
• Hold Period: 4 months and 1 day from the date of issuance.
• Use of Proceeds: Maintenance of existing exploration portfolio and general working capital.
• Regulatory Status: Subject to approval of the TSX Venture Exchange and other necessary regulatory approvals.
• Finders' Fees: The company may pay finders' fees to eligible finders, subject to compliance with securities laws and TSX-V policies.

Notable Quotes

• None provided in the text.