Li-Metal Announces US$750,000 Equity Financing and Plans to Raise up to US$10.0 Million - Seite 3

Pursuant to the Advisory Agreement, compensation to Blue Horizon will consist of: (i) a US$1,000,000 cash engagement fee (the "Engagement Fee") payable upon the closing of the Subsequent Financing (the "Subsequent Financing Closing Date"); and (ii) a monthly cash fee of US$166,666 (the "Monthly Fee").

The Monthly Fee will only be payable in cash following the Subsequent Financing Closing Date. In the event that this does not occur by June 30, 2024, the Advisory Agreement will terminate, and any accrued Monthly Fees shall be paid in Common Shares based on a 20-trading volume weighted average price of the Common Shares.

Proceeds from both financings will to be used to accelerate the commercialization of Li-Metal's anode technology, for working capital and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD
Srini Godavarthy
Chief Executive Officer

About Li-Metal Corp.

Li-Metal is a Canadian-based vertically integrated battery materials company and innovator commercializing technologies to enable next-generation batteries for electric vehicles and other applications. We believe our patented lithium metal technology, next-generation battery anode technology and production methods are significantly more sustainable than existing solutions and offer lighter, more energy-dense and safer batteries. Li-Metal's battery materials support battery developers' ability to power more cost-effective electric vehicles that go farther and unlock the future of transportation. For more information, visit: https://li-metal.com.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's strategic plans and the financings are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the development of the business of the Company will be completed as described above or that the financings will be completed. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

Li-Metal Investor Contact:
Srini Godavarthy
[e-mail]
Tel: [phone]

SOURCE: Li-Metal Corp.

View the original press release on accesswire.com


The Li-Metal Stock at the time of publication of the news with a raise of +35,00 % to 0,135EUR on CSE stock exchange (19. April 2024, 15:43 Uhr).