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Edison Lithium Proceeds with Warrant Repricing

13.02.2024  |  Newsfile

Vancouver, February 12, 2024 - Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it is proceeding with the proposed warrant amendments initially announced on September 6, 2023. The Company had previously announced the cancellation of the proposed warrant amendments on January 2, 2024, but after further consideration and additional consultation with the TSX Venture Exchange ("TSX-V"), the Company will proceed to amend the exercise terms of an aggregate 3,926,125 common share purchase warrants out of a possible 4,048,000 warrants issued pursuant to private placements that closed on February 26, 2021, May 7, 2021 and May 28, 2021, subject to TSX-V final approval.

In particular, the exercise price of these 3,926,125 warrants was re-priced to $0.20 from effective exercise prices ranging from $0.96 to $1.44 resulting from an 8 for 1 common share consolidation that completed on August 1, 2023. These warrants, as amended, are subject to an accelerated expiry provision such that if for any ten consecutive trading days (the "Premium Trading Days") during the unexpired term of the warrants, the closing price of the Company's shares on the TSX-V exceeds $0.25, representing the amended warrant exercise price of $0.20 plus 25%, the exercise period of the warrants will be reduced to 30 days, starting seven days after the last Premium Trading Day. The Company will announce any such accelerated expiry date by news release. Of these 3,926,125 re-priced warrants, 1,118,750 warrants expire on February 26, 2025, 2,707,375 warrants expire on May 7, 2025 and 100,000 warrants expire on May 28, 2025. All other terms remain unchanged.

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, alkali 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:

"Nathan Rotstein"

Nathan Rotstein
Chief Executive Officer and Director

For more information please contact:

Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com

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 statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward- looking statements. Forward-Looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law. Forward-Looking statements in this press release relate to, among other things: completion of the proposed the proposed warrant amendments. 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 of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, 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: receipt of TSX-V approval of the warrant amendments. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, 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 law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197724


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