TORONTO, May 07, 2018 (GLOBE NEWSWIRE) -- Lithium Energi Exploration Inc. (TSX Venture:LEXI) (“LEXI” or the “Company”) announced today that it has filed a preliminary short form base shelf prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces of Ontario, Alberta and British Columbia. Pursuant to the Prospectus, the Company may issue securities (the "Securities") for an aggregate offering amount of up to $30 million during the 25-month period in which the final short form base shelf prospectus, if approved, remains valid. Should LEXI offer any Securities, it will do so pursuant to a prospectus supplement which includes the specific terms of the Securities being offered (a “Prospectus Supplement”). The Company filed the Prospectus to give it flexibility to take advantage of financing opportunities as it sees fit, subject to market conditions and other relevant factors. There is no certainty that any Securities will be offered or sold under the final short form base shelf prospectus within the 25-month period.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Securities, nor shall there be any sale of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
A copy of the Prospectus is available electronically at www.sedar.com.
About Lithium Energi Exploration, Inc.
Lithium Energi Exploration Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSXV:LEXI) and the Frankfort Exchange (FR:LO9). The Company recently completed the acquisition of a portfolio of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
“Chris Hobbs”
________________________
Chris Hobbs,
Chief Financial Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Lithium Energi Exploration, Inc.
Tel: 416 276-6689
Fax: 888 909-1033
Email : chris.hobbs@lithiumenergi.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the matters identified in the Prospectus.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: receipt of all necessary stock exchange and regulatory approvals or consents in respect of the Prospectus and any Prospectus Supplemen;, satisfaction or waiver of all applicable conditions to the advancement of future tranches under the Credit Facility (including the discretion of Arena); the absence of material changes with respect to the Company and its businesses; possible variations in mineralization, grade or recovery rates; actual results of exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.