Vancouver, February 3, 2023 - Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV00) ("Edison" or the "Company") announces today that it intends to extend the expiry date of an aggregate of 21,884,000 common share purchase warrants by 24 months to May 7, 2025, and an aggregate of 800,000 common share purchase warrants by 24 months to May 28, 2025 (the "Warrant Extension"). These common share purchase warrants ("Warrants") were issued pursuant to private placements which closed on May 7, 2021, and May 28, 2021, respectively.
An aggregate of 19,878,000 Warrants currently set to expire on May 7, 2023, entitle the holders thereof to acquire one common share of the Company ("Share") at a price of $0.18 per Share; an aggregate of 2,006,000 Warrants currently set to expire on May 7, 2023, entitle the holders thereof to acquire one common share of the Company ("Share") at a price of $0.24 per Share; and an aggregate of 800,000 Warrants currently set to expire on May 28, 2023, entitle the holders thereof to acquire one common share of the Company ("Share") at a price of $0.18 per Share.
Insiders of the Company hold an aggregate of 700,000 Warrants each exercisable at $0.18 and currently expiring May 7, 2023. All other terms of the Warrants, including the exercise price, are to remain unchanged. The Warrant Extension is subject to the approval of the TSX Venture Exchange.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
Chief Executive Officer and Director
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Disclaimer: This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates" "believes", "intends", "estimates", "potential" "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Warrant Extension and receipt of all necessary approvals in connection therewith. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain all required regulatory approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Company seeks safe harbour.
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