ION Closes Upsized Non-Brokered Private Placement

Executive Summary

• Lithium ION Energy Limited closed a non‑brokered private placement of 35,237,500 units at $0.04 per unit, generating gross proceeds of $1,409,500.
• The offering included common shares and purchase warrants (exercise price $0.05, exercisable for up to 24 months).
• The company also granted 7,000,000 incentive stock options at an exercise price of $0.05 per share to directors, officers and consultants.

Key Details

• Units sold: 35,237,500 (each unit = 1 common share + 1 warrant)
• Price per unit: $0.04 → Gross proceeds: $1,409,500
• Warrant terms: Right to purchase one additional common share at $0.05, exercisable any time up to 24 months from closing.
• Finder’s fees: $44,070 paid in cash; 1,101,750 finder‑warrants issued to arm’s‑length finders.
• Related‑party subscription: Directors/officers (Sreenath Didugu, Matthew Wood, Robert Payment) purchased 3,250,000 units for $130,000 (≈ 9 % of total units). Exemptions relied upon under MI 61‑101; no material change report filed prior to closing.
• Hold period: All securities subject to a four‑month hold until July 14 2026 per TSXV rules.
• Use of proceeds: Assess new growth opportunities, maintain existing exploration portfolio, and general working capital.
• Incentive Stock Options granted: 7,000,000 options at $0.05 exercise price; vest immediately; five‑year term; exercisable for one common share each.

Notable Quotes

(No direct quotes were provided in the release.)