Lake Resources NL  and Lilac Solutions Announce Achievement of Major Milestone for Project Kachi

Lake Resources NL and Lilac Solutions Announce Achievement of Major Milestone for Project Kachi

Brisbane, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) and its direct lithium extraction technology partner, Lilac Solutions ("Lilac"), today announced the production of 2,500kg of lithium carbonate equivalents (LCE) at Project Kachi, a world-class lithium pilot plant located in Argentina. Based on this successful result, Lilac has increased its ownership of the Kachi Project from 10% to 20%. The project is now on track to move from its pilot phase into commercial-scale development, which will make it the first lithium brine project in South America to produce lithium at commercial scale without the use of evaporation ponds for lithium concentration.

The achievement at the Kachi Project represents a historic advancement in lithium production technology. This is the first successful implementation of ion exchange for lithium production in South America, home to most of the world's lithium brine resources.

The 2,500 kg of LCEs was extracted at Kachi with 80% lithium recovery, 90% plant uptime, 1,000x less land compared with evaporation ponds, and 10x less water compared with conventional aluminum-based absorbents. The results speak for themselves:

- Speed to Production: Lake and Lilac commissioned the plant on-site in under a month, more than 10x faster than conventional processes, and immediately began continuous production of lithium chloride;

- High Lithium Recoveries: Lake and Lilac are achieving 80% lithium recovery from a brine with 200-300 mg/L of lithium, roughly double the lithium recoveries of most brine production despite having a lithium grade 2x-7x lower;

- High Water Efficiency: This technology is extremely water efficient, enabling production of lithium chloride with 10x less water compared to conventional aluminum-based absorbents;

- Product Purity: The lithium chloride being produced is low in impurities, enabling efficient production of high-purity lithium carbonate for battery manufacturers. Rejection of boron, a troublesome impurity for brine projects, is greater than 99.9%;

- Continuous Operations: The plant has been operating 24/7, with 90% uptime; this is a reliable automated plant designed for scalable manufacturing and operations;

- No Evaporation Ponds: Lilac's ion exchange technology does not require evaporation ponds for brine concentration, unlike other so-called "direct extraction" technologies which rely on evaporation ponds to concentrate the lithium;

- Validated Performance: An independent engineer has visited the plant and analyzed more than one hundred samples from across the plant to validate performance and confirm consistency with engineering work.

When fully developed by Lake and Lilac, the Kachi project is expected to produce 50,000 tonnes per annum of battery-grade lithium products.

In a joint statement from Lilac and Lake, the company CEOs commented: "Today's announcement marks a new era in scalable lithium production. Lithium is a cornerstone of the energy transition - but limitations in production technology have led to increased costs, scarcity, and extreme price volatility. Today, we've proven that it is possible to produce high-purity lithium faster and without evaporation ponds - all while protecting surrounding communities and ecosystems. We are grateful for the strong partnership between our companies in developing this project, and we look forward to our continued success as we chart a new path in lithium production."

About Lilac Solutions:

Lilac Solutions is a lithium extraction technology company based in Oakland, California. In the coming years, the electric vehicle industry will require a 20-fold increase in lithium supply. To meet this demand, Lilac has developed a patented ion exchange technology that facilitates production of lithium from brine resources with high efficiency, minimal cost, and ultra-low environmental footprint.



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.



Source:
Lake Resources NL



Contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com

Global:
Karen Greene
SVP, Investor Relations
karen.greene@lakeresources.com.au

Australia:
Anthony Fensom
Republic PR
+61 (0) 407 112 623
anthony@republicpr.com.au

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL  Submission Of Production Environmental Impact Assessment

Lake Resources NL Submission Of Production Environmental Impact Assessment

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to report the submission of the Production Environmental Impact Assessment (the "Production EIA" or "EIA") for its flagship Kachi Project ("Kachi" or "the Project") to the Catamarca Ministry of Mining in Catamarca Province, Argentina. Lake's innovative and sustainable Project development plan will result in a small water footprint, amongst the lowest for lithium brine projects per tonne.

The Production EIA, which was submitted in accordance with Lake's operational timeline, is a statutory requirement under the Argentina mining and environmental regimes and is intended to demonstrate that due attention has been given to the potential impact of the mining operations on the environment and local community.

The EIA was prepared by Knight Piesold A.C.S.A., a global engineering consulting firm, in accordance with the General Environmental Law No. 25,675, the National Law No. 24,585 on Environmental Protection for Mining Activity in Argentina, (Annex III), the Mining Code of the Nation (Title 13, Section 2), the SAA Provision No. 74/2010 and the M.M. Resolution No. 1014/2023.

The EIA is based on the production scenario presented in the Definitive Feasibility Study in which lithium brine is extracted via production wells, pumped to the Direct Lithium Extraction ("DLE") plant for lithium recovery and then injected back into the subsurface via injection wells. The Lilac ion exchange process requires a fraction of the water required for evaporation ponds and absorption DLE technology.

Lake has also incorporated a Zero Liquid Discharge unit that further reduces freshwater consumption by about 75%. The injection of spent brine allows Lake to design a system that maximizes lithium recovery while maintaining the hydrological/hydrogeological system as close to baseline conditions as possible during operations. Other significant environmental benefits of Kachi include a smaller land footprint and lower solid waste output compared to traditional evaporation ponds and hard rock projects.

Lake's CEO, David Dickson said: "The timely submission of the EIA underscores Lake's firm commitment to conducting operations in a manner that prioritizes care for the environment and fosters collaboration with our neighboring communities. Kachi stands as a testament to our adoption of a prudent and groundbreaking approach to lithium brine extraction, aiming for the advancement of sustainable and responsible lithium production. We look forward to bringing future employment and economic growth to Catamarca Province, while contributing to the global energy transition."



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Up to A$20 Million Equity Raising

Lake Resources NL Up to A$20 Million Equity Raising

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce that it has received firm commitments for an approximately A$15 million institutional placement ("Placement") through the issue of approximately 213.6 million new fully ordinary shares ("New Shares") at an offer price of A$0.07 per New Share ("Offer Price").

Highlights

- Strong support received from offshore and domestic institutional and sophisticated investors leading to introduction of new high-quality investors to Lake's register

- In addition to the Placement, Lake will offer all eligible shareholders the opportunity to participate in a SPP to raise up to approximately A$5 million at the same price as the Placement

- Funds will be used for working capital to extend runway, in addition to the recently announced cost saving measures, until the completion of the strategic partnership process

- Upon settlement of the Placement, Lake will have a strong pro-forma 31 December 2023 cash balance of A$46.3 million to advance the strategic partnership process for Kachi

In addition to the Placement, Lake will also be undertaking a Share Purchase Plan ("SPP") at the same price as the Placement, to raise up to A$5 million. The Placement and SPP (together the "Offer") will raise total gross proceeds of up to approximately A$20 million.

The Offer enhances Lake's balance sheet by providing additional working capital and financial flexibility during the strategic partnership selection process for Kachi. Lake is actively conducting outreach to a wide array of potential strategic partners including car and battery manufacturers, lithium producers, oil and gas companies, sovereign wealth funds and private equity. The strategic partnership process is scheduled to conclude in the second half of the year (2H CY24).

Commenting on the Offer, Lake's CEO, David Dickson said: "We are pleased with the level of support shown for Lake from both existing and new shareholders. The equity raising will provide funding capacity to support the delivery of the strategic partnership process. We are pleased to offer our existing retail shareholders the ability to participate in the capital raising via the SPP."

Placement

Under the Placement, the Company will issue approx. 213.6 million fully paid ordinary shares in the Company, representing approximately 15% of issued capital, at A$0.07 per New Share, raising a total of A$15 million (before costs), to institutional, sophisticated and professional investors.

The issue price of A$0.07 per share, represents a 39.1% discount to the last closing price of A$0.115 on 8 March 2024 and a 42.3% discount to the 5-day VWAP of A$0.121 as at the same date.

The New Shares will be issued under the Company's existing placement capacity under ASX Listing Rules 7.1. The Placement is not underwritten.

Barrenjoey Markets Pty Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Bookrunners to the Placement. Morgans Corporate Limited is acting as Co-Manager to the Placement.

Share Purchase Plan

In addition to the Placement, the Company will offer all eligible existing shareholders with a registered address in Australia or New Zealand who were holders of Lake shares at 7:00pm (AEDT) on Monday, 11 March 2024 ("Record Date") ("Eligible Shareholders"), the opportunity to apply for new Lake shares, at the same issue price and same terms and conditions as the Placement. The issue price will be $0.07 per share.

Lake intends to raise up to A$5 million and retains discretion over the allocation of shares per investor. The SPP will allow Eligible Shareholders to apply for the maximum allowed of A$30,000 of new fully paid ordinary shares, per shareholder, recognising the ongoing value and support of Lake's shareholders.

The SPP is not underwritten. An SPP booklet containing further terms and conditions of the SPP is expected to be provided to Eligible Shareholders on the 18 th of March.

Lake intends to apply for a waiver under ASX Listing Rule 7.1 as a consequence of the issue price of shares under the SPP being less than 80% of the 5-day VWAP prior to the date of this announcement. If the ASX does not grant this waiver, the SPP will not be exempt from the Company's placement capacity calculation, and therefore the SPP may require shareholder approval at an EGM. If so, the indicative timetable below will be affected accordingly.

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/QQ3Q2A63

To view the Investor Presentation, please visit:
https://www.abnnewswire.net/lnk/2YU47J1E



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Update on Cost Reduction Actions, Strategic Partner Process

Lake Resources NL Update on Cost Reduction Actions, Strategic Partner Process

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announced today that, following the completion of the Kachi Phase One Definitive Feasibility Study ("DFS"), the company is rationalizing the size of its employee base and general and administrative expenses to extend its financial runway, and better position the Company to complete a robust strategic partner selection process.

The Company previously announced an approximate 40% reduction in expenditures for the quarter ending 31 March 2024 as compared to the quarter ending 31 December 2023 (refer to ASX announcement dated 31 January 2024). Lake is now implementing further cost saving measures through reducing global headcount by approximately 50% across its non-core operational and administrative workforce and additional streamlining of other general and administrative expenditures. As a result of these actions, the Company anticipates a further approximate 30% reduction in expenditures in the quarter ending 30 June 2024 compared to the quarter ending 31 March 2024.

The above actions will not impact the planned timing of either the Environmental Impact Assessment submission, scheduled for 31 March 2024 or the strategic partner selection process.

Additionally, Lake will continue its rigorous approach to cost structure optimisation and will explore further ways to reduce expenses. Furthermore, the Company will continue to evaluate the monetization of non-core assets and lithium tenements, which are unrelated to the Kachi Project.

Commenting on the outlook for the globally significant Kachi Project, Chief Executive Officer David Dickson said, "Despite the current backdrop of depressed short-term lithium pricing, we remain very enthusiastic about the Kachi Project, and its potential to deliver long-term value.

We are committed to taking all necessary actions to preserve our financial flexibility while we execute a thorough and prudent strategic partner selection process that results in the best outcome for Lake and its shareholders. We are focused on delivering the Kachi Project in 2028, which is forecast to align with the start of a prolonged period of structural deficit for battery-grade lithium chemicals."

Aligning Developmental Timelines to Strategic Partner Selection Process As announced in the ASX announcement dated 29 November 2023, Goldman Sachs is acting as financial advisor to the operating entity of the Kachi Project with respect to a strategic partnering process. The Company is now actively conducting outreach to a wide array of potential strategic partners as it progresses the initial phase of the strategic partner selection process ("the Process"). This outreach includes car and battery manufacturers, lithium producers, oil and gas companies, sovereign wealth funds and private equity. Additionally, a virtual data room has been established for interested parties, subject to confidentiality arrangements. The Company will seek expressions of interest from those potential partners.

The second phase of the Process will then focus on a select pool of qualified potential partners as the Company moves towards identifying a potential strategic partner for the Kachi Project.

The Company expects the Process will conclude in the second half of the year (2H CY24), with final investment decision ("FID") to follow approximately nine to twelve months thereafter (CY25), which may delay the previous target date for FID. Additionally, the timeline for awarding the Front-End Engineering Design ("FEED"), independent power producer ("IPP") and other tenders may also be impacted by the timing and outcome of the Process, given that the type of strategic partner ultimately selected could influence these decisions.



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Presenting at the Bell Potter Unearthed Natural Resources Conference

Lake Resources NL Presenting at the Bell Potter Unearthed Natural Resources Conference

Sydney, Australia (ABN Newswire) - Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), the responsible lithium developer, announces that management will present at the Bell Potter Unearthed Natural Resources Conference, a virtual event which began on 12 February and will continue through 15 February, from 9:00 a.m. to 6 p.m. AEDT.

Lake CEO, David Dickson will present to investors on 14 February at 9:50 a.m. AEDT.

Dickson will discuss challenges and opportunities within the lithium sector as well as provide an update on the strategic delivery of Lake's Flagship Kachi project located in the heart of Argentina's Lithium Triangle.

The presentation will be available on the Lake Resources website.

Lake also wishes to congratulate its technology and Kachi project partner, Lilac Solutions, for its successful Series C capital raise to support the continued scaling up of proven technology.

Lilac raised US$145m with support from Mercuria, Lowercarbon Capital, Breakthrough Energy Ventures, Engine Ventures, T. Rowe Price, Sumitomo, Emerson Collective, Mitsubishi and The Nature Conservatory.

For more information or to register to attend the virtual conference, visit:
https://www.abnnewswire.net/lnk/160Q17E0

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/F7HDJ8UZ



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL  JORC Update

Lake Resources NL JORC Update

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) reports that drilling completed at the Kachi Lithium Brine Project ("Kachi" or the "Project") in Catamarca Province, Argentina continues to intercept lithium bearing brine in sand units favourable to extraction over thick intervals in the southern portion of central resource area.

The K25D44 drillhole (Figure 1* and Figure 2*) was not completed in time to be incorporated into the Project's Definitive Feasibility Study (DFS) for Phase One, released in December 2023. However, the results from the drillhole confirm the presence of higher-grade lithium brine south of the central resource area to a depth of more than 600 m. The results further support the positive hydrogeological modelling results that were the basis for the Project Ore Reserve and Definitive Feasibility Study (DFS) submitted in December 2023. The DFS highlights include:

- Total resource is estimated at 10.6 Mt LCE, a globally significant resource.

- 25-year life of mine (LoM) supported by maiden Ore Reserve statement.

- Phase One targets a production of 25,000 tonnes per annum (tpa) over the LoM to meet the growing demand and specifications of the battery market.

- The 25,000 tpa operation recovers only a small fraction of the Measured and Indicated Resource, which allows Lake to study further expansions.

- DLE process tailored to mitigate impact on the local community with minimal disruption to land, freshwater table, and water usage.

- The Project targets production of consistent battery grade lithium carbonate (>99.5% purity) at site without the need for further refining or processing.

- Kachi is targeting first lithium in 2027 with ramp-up to full capacity by the end of 2028, which is forecast to coincide with the start of a prolonged period of structural deficit for battery grade lithium chemicals.

Drillhole results prove the continuity of higher-grade lithium brines, south of the Phase One DFS extraction wellfield design and across a northwest-southeast trending fault that is interpreted to create the escarpment south of the field. The relatively high lithium and favourable geologic materials grades beyond the planned DFS wellfield highlight continued favourable results for a higher capacity wellfield.

"The latest drilling intercept further demonstrates the vertical continuity of the lithium bearing brine to more than 600 metres in clean, fine and medium grained sands conducive to high productive extraction wells." commented Michael Gabora, Director of Geology and Hydrogeology of Lake Resources. He continued, "With an average of 257 mg/L through the production zones, the K25D44 hole continues the trend of intercepting lithium grades that are significantly higher than the 205 mg/L design basis of the DFS".

Continuation of Higher-Grade Lithium Resource Intercepts to the South

The principal objectives of the K25D44 (K25 Platform) drillhole were to:

1) Test the continuity of the lithium resource to the south, outside of the footprint of the salar;

2) Expand the Measured Resource to the south and potentially connect the Measured Resource to previous positive lithium intercepts at K21 (Figure 1*);

3) Complete additional sampling and analysis of the deeper portion of the unconsolidated deposits from about 400 m to more than 600 m depth; and,

4) Validate lithium concentrations used in the area of K25 in the Ore Reserve analysis completed with the calibrated hydrogeologic model.

K25D44 was drilled about 2.25 kilometres southwest of K16D28 (K16 Platform; Figure 1*) and has an average lithium grade of 219 mg/L from 19 samples collected between 40 and 622 m below ground surface (bgs) (Table 1*). All but two samples were collected with single packer configurations generally with a test interval of about 10 to 15 m, although this varied depending on hole conditions. Standard operating procedures are followed with significant development of the test interval, at least 3 borehole volumes (measured from surface to hole bottom), and sampling only occurs once brine is clear and field chemistry parameters are stable and indicative of reservoir fluids.

A standpipe piezometer was installed and screened between 418 to 430 m below ground surface and was developed and sampled via airlifting. Results for the airlift sample are consistent with the packer testing within the same interval, with 275 mg/L measured by SGS and 248 mg/L measured by Alex Stewart laboratory, for an average of 261 mg/L compared to 263.5 mg/L for a packer collected sample from 424 to 430 m below ground surface (see Table 1*).

The fine to medium-grained sand (Figure 3* and Figure 4*) and low frequency of fine-grained layers within the planned production horizons (i.e., approximately 200 m to 600 m) are consistent with drillholes in the central resource area and both stratigraphy and general chemistry support the continuity of the lithium brine resource throughout the southern portion of the field.

As has been observed in the other greater than 600 m deep drillholes completed to-date, the lithium brine continues to a depth of more than 600 m. Lithium concentrations deeper than 400 m averaged more than 250 mg/L, far exceeding the design basis for the DFS (205 mg/L).

The modelled lithium concentration in the Project Ore Reserve8 at K25 was 268 mg/L (200 m to 600 m) within the production horizon. The weighted average of the laboratory results through the same interval (215 m to 622 m) is 271.7 mg/L. This indicates that the modelled values are representative, if not slightly conservative, relative to the measured data in the field at this location. The results of the comparison further build confidence in the lithium resource model used as the basis for lithium distributions within the hydrogeological model and Ore Reserve modelling.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UOL27931



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

News Provided by ABN Newswire via QuoteMedia

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Carbon Done Right Announces Receipt of Fourth Disbursement of Financing for Sierra Leone Rewilding Project

Carbon Done Right Announces Receipt of Fourth Disbursement of Financing for Sierra Leone Rewilding Project

Carbon Done Right Developments Inc. (CNW Group/KLIMAT X Developments Inc.)

Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company") (TSXV: KLX) (FSE: Q1C) a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company and its stakeholders, is pleased to announce the completion of all milestones required for the fourth disbursement under the pre-purchase agreement reached with BP Carbon Trading Ltd announced on the 14 th June, 2023. The next milestone for a further disbursement is due within the next four weeks.

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Bitcoin Well Adds Mark Binns as Capital Markets Advisor

Bitcoin Well Adds Mark Binns as Capital Markets Advisor

(TheNewswire)

Bitcoin Well Inc.

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Carbon Done Right Announces Brokered Private Placement

Carbon Done Right Announces Brokered Private Placement

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company") (TSXV: KLX) (FSE: Q1C), formally Klimat X Developments Inc., a company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, including mangroves, for sale into international voluntary carbon markets, is pleased to announce that is has entered into an agreement with Leede Jones Gable Inc. (the " Agent ") to act as sole agent in connection with a commercially reasonable "best efforts" private placement of up to a maximum of 43,111,000 common shares of the Company (the " Common Shares "), at a price of C$0.05 per Common Share (the " Issue Price "), for gross proceeds to the Company of approximately C$2.1 million (the " Offering "), subject to the maximum amount that may be issued under Part 5A (the " Listed Issuer Financing Exemption ") of National Instrument 45-106 Prospectus Exemptions (" NI 45-106 "). The pricing of the Offering is based on a 6.2% discount to the Volume Weighted Average Price over the prior 30 trading days. The company has calculated a six month Volume Weighted Average Price of $0.09 and $0.132 over 12 months.

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Bion Announces Voluntary Share Surrender

Bion Announces Voluntary Share Surrender

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced that several of its largest shareholders have agreed to return up to 30 percent of their holdings to the company for cancellation.

Heirs of Dominic Bassani, Bion's former CEO and largest shareholder who passed in November, will return approximately 20 percent before the Company's June 30, 2024, fiscal year end, with another 10 percent upon Bion meeting funding milestones that are consistent with the company's growth objectives. Mark Smith, Bion's current President, who is transitioning to retirement during this year, will return approximately 30 percent of his holdings over the next month.

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