Li3 Lithium Corp. Announces Warrant Extension
Toronto, Canada November 23, 2022 – Li3 Lithium Corp. (TSXV LILI) (“Li3 Lithium” or the “Company”) announces that the Company has elected to extend the expiry date of 4,200,000 share purchase warrants (“Warrants”) which allow holders to purchase up to 4,200,000 common shares in the authorized share capital of the Company at an exercise price of $0.20 per share, from December 22, 2022 to December 22, 2024. All other terms of the Warrants remain unchanged. The extension of the expiry date of the Warrants is subject to TSX Venture Exchange approval.
About Li3 Lithium Corp.
Li3 Lithium is focused on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and Argentina, where the founders have significant experience and relationships. As evidenced by recent market growth, hard rock lithium deposits are forecast to continue to dominate the global supply of lithium given the scarcity, complexity and capex-intensive nature of alternative brine sources.
Li3 Lithium has a 50% interest in Li3 Resources Inc., a private company with a joint-venture agreement to acquire up to a 50% interest in the Mutare Lithium Project, which consists of 1,500 hectares of licenses within the Mutare Greenstone Belt of Zimbabwe. The area was deemed prospective for lithium-cesium-tantalum (LCT) type pegmatites based on prior target generation work. Management believes the lithium exploration potential of the Mutare Greenstone Belt is analogous to that of the Pilbara Craton pegmatites in Western Australia. A three phase exploration program on the Mutare Lithium Project is underway that includes resource identification, delineation and development.
Li3 Lithium Corp
Stephen Dunn, CEO
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This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward- looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.