Oakham Announces Change of Name to "LSC Lithium Corporation" and Closing of Qualifying Transaction - Seite 2

Private Placement

Prior to the closing of the Qualifying Transaction, LSC Lithium completed its financing of 30,769,231 subscription receipts (the "Subscription Receipts") at a price of C$1.30 each for aggregate gross proceeds of C$40,000,000. The financing was completed in two tranches. At the closing of the Qualifying Transaction, the holders of the Subscription Receipts received 30,769,231 common shares of LSC. In connection with the private placement, agents' commissions and finders fees totalling C$2,343,286 and warrants to purchase 1,802,526 LSC Lithium common shares exercisable at a price of C$1.30 per share for a period of 12 months following the applicable closing were issued.

Capitalization

Following the closing of the Qualifying Transaction, LSC has 84,695,841 common shares issued and outstanding. Assuming the conversion of all outstanding options and warrants, the fully diluted capital of LSC is 108,707,183 common shares.

Escrowed Securities

Pursuant to the terms of an escrow agreement among LSC, TSX Trust Company (as escrow agent) and certain shareholders of LSC, common shares and common share purchase warrants of LSC will be placed in escrow, to be released in tranches over 36 months after the issuance of the Exchange Bulletin.

Directors and Officers

As a result of the closing of the Qualifying Transaction, the directors and officers of LSC are now:

Wayne Richardson	Chairman, President and Chief Executive Officer
Stephen Dattels	Director
Peter Robson	Director
Bryan Smith	Director
Robert Metcalfe	Director
Trevor Eyton	Director
Lincoln Greenridge	Chief Financial Officer
D'Arcy Doherty	VP, Legal, & Corporate Secretary
Jessica Helm	VP, Corporate Communications and Investor Relations

Further details on the Qualifying Transaction are set out in LSC's filing statement dated January 27, 2017 (the "Filing Statement") available under LSC's profile at www.sedar.com. The Filing Statement describes the terms of the Amalgamation and also includes a summary of the National Instrument 43-101 technical report with respect to the material properties of LSC.