SPOD Lithium Terminates Lithium Grande 4 and MegaLi Properties Option Agreements and Announces Results of AGSM

Executive Summary

• Spod Lithium Corp. received Notices of Default from Noranda Royalties Inc. and Visible Gold Mines Inc. for failure to make required option payments and share issuances on the LG4 and MegaLi properties.
• The Company elected not to cure the defaults and terminated both the LG4 Option Agreement and the MegaLi Option Agreement.
• Shareholder voting at the Annual General and Special Meeting approved various resolutions, including director elections, auditor appointment, stock option plan, and a share consolidation.

Key Details

• Notices of Default: Issued by Noranda Royalties Inc. (LG4 property) and Visible Gold Mines Inc. (MegaLi property) for non‑payment of $150,000 and failure to issue 1,375,000 common shares each, due December 31 2025.
• Termination Decision: Spod Lithium Corp. chose not to cure the defaults and terminated both the LG4 Option Agreement (originally dated July 6 2022, amended July 4 2023 & May 29 2024) and the MegaLi Option Agreement (dated August 3 2022, amended August 3 2023 & May 29 2024).
• Conflict of Interest: Director Martin Dallaire is also President/CEO of VGM; CFO/Interim CEO Veronique Laberge serves as CFO of VGM.
• AGSM Results (Jan 29 2026): 24,806,100 shares voted (26.39% of eligible). Key resolutions:
• Election of directors – Veronique Laberge, Richard Goldstein, Hani Zabaneh (99.19% for), Martin Dallaire (87.13% for).
• Appointment of auditors – 99.956% for.
• Approval of Stock Option Plan – 98.605% for.
• Options issuance to Richard Goldstein – 90.936% for.
• Share consolidation approval – 99.996% for.
• Shareholder Participation: 1,000 votes (0.004%) were cast against/withheld on director elections and share consolidation; minimal opposition on other items.

Notable Quotes

(No direct quotes provided in the release.)