Edison Lithium Corp. announced a non-brokered private placement of up to 4,000,000 units at a price of CAD 0.12 per unit for aggregate gross proceeds of up to CAD 480,000 on September 7, 2023. Each unit shall consist of one common share and one share purchase warrant.

Each warrant shall be exercisable to purchase one additional share at a price of CAD 0.20 for a period of 24 months from the date of closing of the transaction. All the securities issuable in connection with the transaction will be subject to a statutory four-month hold period under applicable Canadian securities laws commencing on the closing date. The company may pay a finder's fee in cash and/or securities of the company in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The completion of the transaction will be subject to receipt of all necessary regulatory approvals, including the acceptance of the exchange. The transaction is anticipated to have participation from the insiders of the company.