Lithium

LithiumBank Resources

Lithiumbank Announces Approval To List On The Tsx Venture Exchange On April 1st, 2022

LithiumBank Resources Corp. (TSXV:LBNK) ("LithiumBank" or the "Company") is pleased to announce that trading of the common shares of the Company (the "Common Shares") on the TSX Venture Exchange ("TSXV") is anticipated to commence at the open of trading on April 1, 2022 under the trading symbol "LBNK".

The Company currently has 37,162,239 Common Shares, 3,459,625 incentive stock options, 6,146,119 share purchase warrants, and 848,179 broker warrants outstanding, each as further described in the Company's final prospectus dated March 1, 2022 (the "Prospectus"). Of the aforementioned securities, 8,510,000 Common Shares, 2,009,625 incentive stock options and 180,000 share purchase warrants are held in escrow pursuant to a National Policy 46-201 escrow agreement, which provides for 10% of such securities to be released on the date on which the Common Shares are listed on the TSXV (the "Listing Date") and 15% of such securities to be released every six months after the Listing Date (for a total 36 month release period). In addition, the following securities are subject to seed share resale restrictions pursuant to TSXV Policy 5.4 - Escrow, Vendor Consideration and Resale Restrictions: (i) 10,450,001 Common Shares, 10% of which will be released at the time of the TSXV bulletin with respect to the listing and trading of the Common Shares (the "Bulletin") and 15% of which will be released every 6 months from the time of the Bulletin (for a total 36 month release period); (ii) 3,819,999 Common Shares, which will be subject to a two year hold with 20% released every six months with the first release on the date of the receipt of the Prospectus; (iii) 100,000 Common Shares, which will be subject to a one year hold with 20% released every three months with the first release on the date of the receipt of the Prospectus; (iv) 300,000 incentive stock options with a $0.10 exercise price, which will be subject to a two year hold with 20% released every six months with the first release on the date of the receipt of the Prospectus; (v) 100,000 incentive stock options with a $0.20 exercise price, which will be subject to a one year hold with 20% released every three months with the first release on the date of the receipt of the Prospectus; and (vi) 200,000 incentive stock options with a $0.80 exercise price, which will be subject to a four month hold with 20% released every month with the first release on the date of the receipt of the Prospectus.

The Prospectus, which is filed under the Company's profile on www.sedar.com, discloses an arrangement with Flower Hill Invest AB, DBA Hedgeless Horseman (the "Service Provider") and the Company wishes to provide an update with respect to this arrangement. The Company had previously engaged the Service Provider to create and disseminate advertisements, banners, certain social media and website content and news releases on behalf of the Company. This arrangement was terminated on March 21, 2022 and the Company is hereby updating the public disclosure record accordingly.

Further to the Prospectus disclosure regarding the Company's agreement dated December 1, 2021 with Focus Communications IR (the "Focus"), an arm's length service provider, pursuant to which the Company agreed to pay Focus consideration that included an aggregate of 200,000 stock options (as disclosed in the Prospectus), the Company announces that it granted on March 25, 2022 the aforementioned 200,000 stock options to purchase 200,000 Common Shares to Focus at a price of $1.50 per share for a period of 2 years, subject to quarterly vesting over a period of 12 months from the date of grant.

About LithiumBank Resources Corp. LithiumBank Resources Corp. is an exploration and development company focused on direct brine lithium resources in Western Canada. Contact: Robert Shewchuk CEO & Director rob@lithiumbank.ca (778) 987-9767 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 release.

Forward Looking Statements

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding trading of the common shares of the Company on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.

Click here to connect with LithiumBank Resources Corp. (TSXV:LBNK) to receive an Investor Presentation.

Source

LBNK:CA
LithiumBank Resources

LithiumBank Resources


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LithiumBank Commences Trading on the OTCQX Under the Symbol LBNKF

LithiumBank Commences Trading on the OTCQX Under the Symbol LBNKF

LithiumBank Resources Corp. ("LithiumBank or the "Company") (TSXV:LBNK) (OTCQX: LBNKF) is pleased to announce that the Company's common shares have commenced trading on the OTCQX® Best Market, an over-the-counter public market in the United States, under the ticker symbol LBNKF. LithiumBank will continue to trade on the TSX Venture Exchange ("TSXV") in Canada, as its primary listing under the symbol "LBNK".

"We are pleased to begin trading on the OTCQX Market, which we believe will increase our visibility and accessibility for current and potential investors in the United States as we continue to advance our exploration and development of our Lithium projects in Western Canada. We also look forward to seeing the results of our Preliminary Economic Assessment currently underway with Hatch Ltd. on our flagship Boardwalk Project at Sturgeon Lake, Alberta in the coming quarter," stated Rob Shewchuk, Director & CEO. "We believe that trading on OTCQX will also improve our market information, transparency, liquidity and ease of trading in the Company's securities, and will be a benefit to all of our shareholders as we present our corporate developments at Boardwalk and other projects in our portfolio of over 3.2 Million acres over the balance of 2022 and into 2023."

News Provided by GlobeNewswire via QuoteMedia

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LithiumBank Resources Corp. is an exploration and development company focused on direct brine lithium resources in Western Canada . The company plans to take advantage of Alberta's long history of fossil fuel production to create a local source of "green" lithium in North America .

SOURCE TSX Venture Exchange

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2022/29/c6922.html

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