Li3 Lithium Corp. completes personal placement of $1,605,000

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TORONTO, Ontario–(Newsfile Corp. – November 4, 2022)- Li3 Lithium Corp. (TSXV:LILI) (“Li3 Lithium” both “firm“) is happy to announce that it has accomplished the beforehand introduced non-broker personal placement on October 21, 2022 (“personal placement“) for a complete gross revenue of $1,605,000. The personal placement concerned the issuance of 16,050,000 items (“items“) at a worth of $0.10 per unit. Every unit consists of 1 (1) frequent share within the firm’s capital inventory (a “frequent share“) and one-half (1/2) warrants. Every warrant in full will give the holder the precise to buy one frequent share for $0.20 at any time inside two years after closing.

All securities issued pursuant to personal placement shall be topic to a maintain interval of 4 months and sooner or later from the date of difficulty and the resale guidelines of the relevant securities legislation. Web proceeds from the sale of items might be used for basic working capital functions and to help in conducting due diligence of potential enterprise alternatives. The closure of the personal placement is topic to sure situations, together with, however not restricted to, acquiring all mandatory regulatory and different approvals, together with the approval of the TSX Enterprise Change (“tsxv,

A bodily change report in respect of the personal placement shall be filed not lower than 21 days previous to the shut of the personal placement. The Firm believes that this shorter interval is acceptable and mandatory within the circumstances because the Firm wished to finish the personal placements on time.

About Li3 Lithium Corp.
Li3 Lithium is targeted on buying and creating laborious rock spodumene lithium belongings in Zimbabwe and Argentina, the place the founders have important expertise and relationships. As evidenced by current market developments, laborious rock lithium deposits are projected to dominate the worldwide provide of lithium, given the paucity, complexity and capex-intensive nature of different brine sources. Presently, spodumene focus is buying and selling at a report excessive worth of US$ 5,500/tonne and is anticipated to maneuver increased.

Zimbabwe – Mutare Lithium Undertaking
In April 2022, Li3 Lithium acquired Li3 Assets Inc. earned 50% curiosity inLi3 Assets“), a non-public, lithium-focused exploration firm based and backed by senior mining executives with prior success within the lithium trade. Li3 Assets has entered right into a binding three way partnership settlement (“three way partnership settlement“) to amass as much as 50% curiosity within the Mutare Lithium Undertaking (“”Mutare Lithium Undertaking“) from London AIM-listed Premier African Minerals Ltd.

The Mutare Lithium Undertaking covers 1,500 hectares licensed inside Zimbabwe’s Mutare Greenstone Belt, situated near the jap border with Mozambique. The realm was thought of potential for lithium-cesium-tantalum (LCT) sort pegmatites primarily based on prior goal development work. Administration believes that the lithium exploration potential of the Mutare Greenstone Belt is just like that of the Pilbara Craton pegmatites in Western Australia.

Zimbabwe is estimated to have Africa’s largest lithium reserves, however stays comparatively undeveloped attributable to lack of funding. The Mutare Lithium Undertaking is situated in an space of ​​Zimbabwe that’s now gaining important curiosity. The Dawa blocks are nicely situated and, in lots of situations, have attracted curiosity from worldwide lithium producers, which is anticipated to additional increase curiosity and funding within the sector.

An exploration program has begun on the Mutare Lithium Undertaking to be executed in three phases to incorporate useful resource identification, delineation and improvement.

contact data,
Li3 Lithium Corp.
Stephen Dunn, CEO
Tel: 416-361-2827
E mail: dunnsteve@protonmail.com
www.lithium3.com

warning assertion:

Neither TSXV nor its Regulating Service Supplier (as outlined in TSXV’s insurance policies) accepts accountability for the adequacy or accuracy of this launch.

This information launch comprises sure “forward-looking data” inside the that means of relevant securities legal guidelines. Ahead-looking data is usually characterised by phrases reminiscent of “plan”, “anticipate”, “venture”, “intend”, “imagine”, “estimate”, “estimate”, “might”, “will”, “will”. , “seemingly”, “proposed” and different comparable phrases, or statements that “could possibly be” or “might be” sure occasions or situations. These statements are solely predictions. Ahead-looking data relies on administration’s opinion and estimates on the date the knowledge is supplied, and is topic to a wide range of dangers and uncertainties and different elements that would trigger precise occasions or outcomes to vary materially from these projected forward. can. – Viewing data. For an outline of the dangers and uncertainties dealing with the Firm and its enterprise and affairs, readers ought to confer with the Firm’s Administration Dialogue and Evaluation. If circumstances or administration’s estimates or opinions ought to change, until required by legislation, the Firm undertakes no obligation to replace additional data. Readers are cautioned to not rely unnecessarily on forward-looking data.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/143104.

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