- CATL to invest an additional
C$2.6 million and maintain its 8% equity ownership inNeo Lithium
Pursuant to the terms of an investor rights agreement between CATL and the Company (the "Investor Rights Agreement"), CATL holds a participation right to maintain its pro rata percentage holding in the Company. The right to the Sidecar Placement was triggered as a result of the "bought deal" private placement financing of special warrants of the Company ("Special Warrants") previously announced by the Company on
The Company intends to use the net proceeds from the Sidecar Placement to fund development work at the 3Q
The Sidecar Placement is scheduled to close within 45 days of the date hereof (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including customary approval from the government of the People's Republic of China, the approval of the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act and may not be offered or sold in
About CATL
CATL is a global leader in the development and manufacturing of lithium-ion batteries, with businesses covering R&D, manufacturing and sales in battery systems for new energy vehicles and energy storage systems. In 2019, the company's EV battery sales volume reached 40.25 GWh worldwide, and making it the world leader in annual EV battery consumption volume (source
For more information, please visit http://www.catlbattery.com.
About
The 3Q Project is located in the
Additional information regarding
Neither the
Cautionary Statements Regarding Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements concerning the Sidecar Placement and the Brokered Offering, the intended use of proceeds therefrom, the Closing Date and receipt of regulatory approvals, including the approval of the TSXV. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain regulatory approval for the Sidecar Placement, failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.
SOURCE
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