Edison Lithium Corp. (TSXV:EDDY) announced that its Board of Directors has unanimously approved a proposed spinout of its cobalt assets in northeastern Ontario, referred to as the Kittson Cobalt Property (the 'Spin-Out'), into a newly incorporated subsidiary ('SpinCo'). The Company will continue to hold its interest in the Antofalla Salar and Pipanaco Salar lithium projects in Argentina.

The proposed Spin-Out will be subject to the terms of an arrangement agreement between Edison and SpinCo, the approval of shareholders at a meeting of Edison shareholders, the approval of the British Columbia Supreme Court and the approval of the TSX Venture Exchange (the 'Exchange'). The Company intends to seek a listing of the SpinCo Shares on the Exchange but no assurance can be provided that such a listing will be obtained. Listing will be subject to SpinCo fulfilling all of the requirements of the Exchange.

Nathan Rotstein, Chief Executive Officer of Edison comments, 'It is our intention to build shareholder value by providing investors with an ownership stake in two separate specialized companies. Both companies will be in the hot battery metals sector. Each company will operate as a separate entity and will enjoy distinction in the exponential growth of the EV market'.