ION Announces Extension of Private Placement

Executive Summary

• Lithium ION Energy Limited announced an extension of its non‑brokered private placement for up to 37.5 million units at $0.04 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit consists of one common share and one warrant allowing purchase of a share at $0.05 within 24 months; all units are subject to a four‑month statutory hold period.
• Net proceeds will be used to maintain the existing exploration portfolio and for general working capital.

Key Details

• Offering Size: Up to 37,500,000 units.
• Price per Unit: $0.04 (gross proceeds up to $1,500,000).
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Right to buy one common share at $0.05 per share, exercisable any time up to 24 months after the closing date, subject to TSX Venture Exchange approval.
• Hold Period: Statutory four‑month hold period from issuance; all securities also subject to an additional hold of four months and one day per applicable regulations.
• Use of Proceeds: Maintain existing exploration portfolio; general working capital.
• Placement Type: Non‑brokered private placement offered to qualified investors under prospectus exemptions.
• Finder’s Fees: Company may pay finder fees to eligible finders, subject to securities law compliance and TSXV policies.
• Regulatory Conditions: Completion and any finder fee payments are contingent upon receipt of all required regulatory approvals, including TSX Venture Exchange approval.

Notable Quotes

• Sreenath Didugu – CEO: “The extension of this private placement provides us with the necessary capital to continue advancing our exploration projects while preserving flexibility for future growth.”