TORONTO, Oct. 03, 2025 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV:LTH, OTCQB:LTHCF, FSE: H3N)) ("Lithium Ionic" or the "Company") reports that is has closed the second and final tranche (the "Second Tranche") of its previously announced non-brokered private placement financing. Together with the first tranche, which closed on September 29, 2025, the Company has issued an aggregate of 26,090,130 units (the "Units") at a price of $0.70 per Unit for total gross proceeds of $18,263,091 (the "Offering"). The Second Tranche consisted of 7,739,989 Units for gross proceeds of $5,417,992.
Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.90 per Common Share for a period of 24 months following the date hereof.
The Company plans to use the aggregate net proceeds of the Offering for development of its Brazilian properties and general corporate purposes.
The securities being issued pursuant to the Offering are subject to a four-month hold period under applicable securities laws. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange ("TSXV"). The Company did not pay any finder's fees in connection with the Offering.
Certain insiders of the Company acquired 947,929 Units in the Second Tranche (the "Insider Participation"). The Insider Participation constitutes a "related party transaction" as defined under Multilateral Instrument 61 101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Insider Participation is exempt from the formal valuation and ...
