Lithium Ionic and POCML 6 close upsized $14 million subscription receipt offering

February 8, 2022

On February 8, 2022, Lithium Ionic Inc. (“Lithium Ionic”) and POCML 6 Inc. (“POCML6”, and together with Lithium Ionic, the “Issuers”), announced that Lithium Ionic and POCML6 have closed their brokered private placements (collectively, the “Offering”) of subscription receipts (the “Subscription Receipts”). Under the Offering, Lithium Ionic and POCML6 issued an aggregate of 20,000,000 Subscription Receipts at a price of $0.70 per Subscription Receipt for aggregate gross proceeds of $14,000,000.

The Offering was completed pursuant to an agency agreement among Lithium Ionic, POCML6, Clarus Securities Inc. (as lead agent), PowerOne Capital Markets Limited, iA Private Wealth Inc., Haywood Securities Inc. and Research Capital Corporation.

Lithium Ionic is a private company incorporated under the laws of the Province of Ontario that owns a 100% ownership interest in the Itinga lithium project.

Miller Thomson advised Lithium Ionic on the Offering with a team comprised of Mack Hosseinian, Christopher Fallis and Bailey Sprout (Capital Markets & Securities) as well as Anca Nitu (Paraprofessional).