POCML 6 Inc. and Lithium Ionic Inc. Announce Increase to Marketed Offering of Subscription Receipts

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TORONTO, Jan. 18, 2022 (GLOBE NEWSWIRE) -- POCML 6 Inc. (TSXV: POCC.P) (the “Company”) and Lithium Ionic Inc. (“Lithium Ionic”) are pleased to announce today that, due to strong demand, Lithium Ionic has agreed with Clarus Securities Inc. (“Clarus” and “Lead Agent”) on behalf of a syndicate of agents including PowerOne Capital Markets Limited, iA Private Wealth Inc., Haywood Securities Inc., and Research Capital Corp. (collectively, the “Agents”), to increase the size of its previously announced C$10,000,000 “best efforts” private placement offering. Pursuant to the upsized deal terms, the Agents have agreed to increase the offering to 20,000,000 subscription receipts of Lithium Ionic (the “Subscription Receipts”), at a price of C$0.70 per Subscription Receipt (the “Offering Price”) for aggregate gross proceeds to Lithium Ionic of C$14,000,000 (the “Offering”). All other terms of the previously announced financing announced on January 12, 2022, shall remain in full force and effect, unamended.

Lithium Ionic intends to use the net proceeds of the Offering for (i) exploration of the Itinga Project, and (ii) general corporate and working capital purposes following completion of the previously announced qualifying transaction with the Company.

The Offering is scheduled to close on or about February 3, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada. The securities to be issued under this Offering may also be offered offshore, including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.