Each Unit shall consist of one (1) common share ('Share') in the capital of the Company and one (1) Share purchase warrant ('Warrant'), whereby each Warrant shall be exercisable by the warrant holder to purchase one (1) additional Share at a price of
Securities issuable in connection with the Private Placement will be subject to a statutory four-month hold period under applicable Canadian securities laws commencing on the Closing Date. The proceeds of the Private Placement will be used to fund the Company's projects and for general working capital purposes.
In consideration of the introduction to the Company of investors in the Private Placement, finder's fee may be paid in cash and/or securities of the Company in accordance with applicable securities laws and the policies of the
It is anticipated that insiders of the Company may participate in the Private Placement. Any such participation will constitute a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company intends to rely on the exemption from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
Grant of Stock Options
The Company further announces the grant of an aggregate of 1,200,000 incentive stock options (the 'Options') to certain directors, officers and consultants of the Company in accordance with the terms of the Company's stock option plan. Each Option entitles the holder thereof to purchase one Share of the Company at an exercise price of
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Email: info@edisonlithium.com
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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. Forward-looking statements in this news release relate to, among other things, the Private Placement, including the number of Units to be issued, the use of proceeds received therefrom and the receipt of applicable regulatory approvals, including the acceptance by the Exchange and the Options, including the approval and ratification thereof of the disinterested shareholders of the Company. 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, delays or failure to obtain all required approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. All information provided in this news release is as of the date of this news and 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.
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