Lithium Ionic Announces Closing of Underwritten Financing

July 31, 2023

On July 31, 2023, Lithium Ionic Corp. (“Lithium Ionic” or the “Company”) (TSXV:LTH) announced  that it has closed its underwritten private placement financing, including the exercise in full of the underwriters’ over-allotment option. A total of 13,690,635 common shares of the Company were issued at a price of $2.10 per common share for aggregate gross proceeds of $28,750,334.

The Offering was led by Clarus Securities Inc. and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters that included Desjardins Securities Inc.

Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil.

Miller Thomson advised Lithium Ionic with a team comprised of Mack Hosseinian, Brandon Meyer and Joshua Davis (Corporate/M&A); as well as Armando Ranjbar (Student).