Lithium ION Vitality Restricted (TSXV: ION) (FSE: ZA4) (“ION” or the “Firm”) is happy to share that it has entered into an LOI Settlement to progress a enterprise mixture with United Uncommon Earths Ltd. (“UnitedRE”), a US-based uncommon earths recycling and refining firm. UnitedRE secured a strategic location to develop and has considerably superior discussions with a federal company for grant alternatives which incorporates non-recourse, non-dilutive funding. UnitedRE has assist on the highest ranges of the federal government and an instrumental MOU with a nationwide laboratory that may advance uncommon earth recycling and refining applied sciences within the U.S.
Highlights:
- Leading edge know-how with a transparent path to making a low-carbon, home provide of uncommon earths to the US, leveraging non-recourse funding;
- Uncommon earth parts required for army functions and important within the manufacturing of motors wanted for the power transition associated to electrification – a complementary strategic transaction;
- Lithium continues to play an irreplaceable function within the power transition and ION’s belongings might be on the able to fill this requirement; and
- Sturdy mixed administration groups with deep relationships throughout authorities, know-how, capital markets and mining.
“I’m delighted to announce this main improvement with respect to turning into an integral participant within the essential metals house. We consider completion of the proposed enterprise mixture will catapult ION Vitality right into a diversified battery and demanding metals participant on the worldwide market. We consider strongly in our Lithium belongings and the sheer scale and potential UnitedRE brings is compelling to realize the important goal of a cleaner, safe, traceable future for humanity,” stated Ali Haji, CEO & Director – Lithium ION Vitality Ltd.
Jeffrey Willis, Chairman of UnitedRE, commented, “We’re excited to announce this strategic step ahead with ION Vitality, marking a pivotal second for each organizations. By aligning our assets and experience with ION Vitality, we’re making a basis for accelerated progress and innovation. This partnership enhances {our capability} to ship on our shared mission to ascertain a sustainable, resilient provide chain to energy renewable applied sciences and the electrification motion. Our collective efforts, grounded in a shared imaginative and prescient, will empower us to satisfy the rising demand for uncommon earth supplies, securing the provision chain for America’s future.”
Convertible Debentures:
To assist this new improvement for the Firm, ION Vitality can be happy to announce a non-brokered personal placement providing of convertible debentures of the Firm (“Debentures”) at a value of US$1,000 per Debenture for mixture gross proceeds of US$ 2,000,000 (the “Providing”). The Debentures will mature 24 months from the date of concern (the “Maturity Date”), carry an rate of interest of 8% per 12 months and might be convertible to widespread shares at a conversion value of $0.10 per share. Within the occasion the 10-day quantity weighted common value of the widespread shares of the Firm exceeds $0.15 or extra on the Toronto Inventory Change, the Firm could have the best to speed up the conversion of the shares.
Proceeds of the Providing might be used to finish the enterprise mixture with UnitedRE and develop its uncommon earth recycling and refining know-how, for the continued development and exploration of the Firm’s lithium belongings, in addition to working capital.
ION Vitality expects the proposed enterprise mixture will represent an “expedited acquisition” underneath the insurance policies of the TSXV. Completion of every of the proposed enterprise mixture and the Providing stays topic to the approval of the TSXV.
About Lithium ION Vitality Ltd.
Lithium ION Vitality Ltd. (TSXV: ION) (FSE: ZA4) is dedicated to exploring and growing top quality lithium assets in strategic jurisdictions. ION’s flagship, 65,000+ hectare Baavhai Uul lithium brine venture represents the biggest and first lithium brine exploration licence award in Mongolia. ION additionally holds the 29,000+ hectare Urgakh Naran extremely potential lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani tasks in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key participant within the clear power revolution, positioned effectively to service the world’s elevated demand for lithium. Details about the Firm is on the market on its web site, www.ionenergy.ca, or underneath its profile on SEDAR+ at www.sedarplus.ca.
About United Uncommon Earths Ltd.
United Uncommon Earths, Inc, a U.S. owned firm, is devoted to a home strategy to the acquisition, refining, and distribution of magnet and uncommon earth minerals. UnitedRE is growing a home uncommon earths hub in northeast Tennessee. Operations will embody a magnet recycling facility, a separation facility for newly mined supplies and a know-how heart of excellence. The mission is to create a safe, dependable and traceable provide of uncommon earth minerals to assist new and present home primarily based applied sciences.
Along with an MOU with a nationwide laboratory to help with improvement, design planning and R&D optimization work, UnitedRE has additionally obtained a staff of world-class advisors corresponding to EY (Ernst & Younger): analysis and technique, King & Spaulding LLP: authorized counsel, and Brownstein Hyatt Farber Schreck: authorities coverage.
For additional info:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Jeffrey Willis jkwillis@unitedre.com, 307-287-6227
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Notice Concerning Ahead-Trying Info
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.
Info set forth on this information launch accommodates forward-looking statements. Ahead-looking statements embody estimates and statements that describe the Firm’s future plans, targets or targets, together with with respect to the proposed enterprise mixture and the Firm’s operations after completion thereof, and different phrases to the impact that the Firm or administration expects a acknowledged situation or end result to happen. Ahead-looking statements could also be recognized by such phrases as “believes”, “anticipates”, “expects”, “estimates”, “could”, “may”, “would”, “will”, or “plan”. Since forward-looking statements are primarily based on assumptions and tackle future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Though these statements are primarily based on info presently out there to the Firm, the Firm gives no assurance that precise outcomes will meet administration’s expectations. Dangers, uncertainties and different components concerned with forward-looking info may trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking info. Ahead wanting info on this information launch contains, however is just not restricted to, the Firm’s targets, targets or future plans, statements, together with with respect to the coming into into of the proposed enterprise mixture with UnitedRE and the Firm’s operations after the completion thereof. Essential components that might trigger precise outcomes to vary materially from ION Vitality’s expectations embody, amongst others, regulatory approvals, the flexibility to barter and implement definitive agreements with respect to the enterprise mixture, uncertainties referring to availability and prices of financing wanted sooner or later, modifications in fairness markets, dangers associated to worldwide operations, the precise outcomes of present exploration actions, delays within the improvement of tasks, conclusions of financial evaluations and modifications in venture parameters as plans proceed to be refined in addition to future costs of lithium, and the flexibility to foretell or counteract different components related to the Firm’s enterprise. There may be no assurance that forward-looking statements will show to be correct and precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements.
