Lithium ION Energy Announces Completion of Debt Settlement

Lithium ION Energy Announces Completion of Debt Settlement

Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") further to the announcement of March 13, 2024, confirms that it has completed debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, the Company has settled an aggregate amount of $98,419 in debt, in consideration for which it will issue an aggregate of 393,675 common shares (the "Shares") of the Company at a deemed price of $0.25 per Share.

All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.

About Lithium ION Energy Ltd.

Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: Z4A) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.

For further information:

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214955

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ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

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The April Warrants were issued pursuant to a public offering which closed on April 13, 2021 and are set to expire on April 12, 2024. The April Warrants were issued pursuant to a warrant indenture dated April 13, 2021 between the Company and TSX Trust and each April Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.70. The July Warrants were issued pursuant to a non-brokered private placement which closed on July 20, 2023 and are set to expire on July 20, 2024. Each July Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.40.

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All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.

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Robert Payment will be joining the Ion Energy team as Chief Financial Officer, as a seasoned CPA with 16 years of comprehensive experience spanning finance, reporting, regulatory compliance, public company administration, equity markets, and the financing of publicly traded companies. His career commenced in public practice focusing on the audit of public resource issuers, and since 2014 he has served as a CFO and consultant to a portfolio of companies listed on both the TSX Venture Exchange and the Canadian Securities Exchange (CSE).

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CERENERGY(R) batteries have been designed on well-established sodium-nickel-chloride chemistry, which traces its origins to the first-generation Zebra batteries. These earlier Zebra cells had a smaller energy capacity (approximately 100Wh) compared to the current CERENERGY(R) cells (250Wh). CERENERGY(R) cells were developed to improve energy capacity and reduce battery costs, but share the same fundamental Na Ni-Cl electrochemical design.

In a compelling demonstration of the technology's durability, a 28-year-old Zebra battery- originally manufactured by AEG ZEBRA in Berlin and left unused in storage-was recently provided to Altech for evaluation. Upon testing, the battery was successfully activated and performed as if it were new, exhibiting no degradation in function or capacity despite nearly three decades of dormancy.

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To validate this capability further, Altech's joint venture partner, Fraunhofer IKTS, has conducted a rigorous individual cell stress-testing program. The 28-year-old cell is currently undergoing daily charge and discharge cycling at 300 degC across a 20-80% state of charge (SoC) range. The tests confirm not only the battery's safe operation but also its consistent performance across the full capacity spectrum.

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About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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