Edison Lithium Provides Corporate Update
Vancouver, British Columbia, November 2, 2023 – Edison Lithium Corp. (TSXV: EDDY; OTCQB: EDDYF; FSE: VV0) (“Edison” or the “Company”), as announced on August 25, 2023, has acquired a 100% interest in four prime sodium brine properties in Saskatchewan. The acquisition of the alkali dispositions, located in Ceylon Lake, Freefight Lake and the north and south areas of Cabri Lake, in the Province of Saskatchewan, allows Edison to capitalize on the emerging growth of the sodium ion (“NA-ION”) battery as a significant alternative to the lithium-ion battery by positioning the Company to meet the growing raw material supply chain demand of the NA-ION battery industry.
A National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report for the alkali dispositions has been commissioned and is expected to be available in December 2023.
Nathan Rotstein, Chief Executive Officer and Director of Edison, stated, “BYD, the world’s largest electric vehicle manufacturer, has three models of NA-ION battery vehicles for sale. In addition, CATL, the largest manufacturer of electric vehicle batteries in China, is now producing a NA-ION battery. The trend is definitely moving to the NA-ION battery, not just for electric vehicles but also for energy/grid storage.”
For more information on NA-ION batteries, please visit: www.sodiumbatteryhub.com
Argentina Properties Update
The Company has been approached by several interested parties to discuss the development or sale of, or potential joint venture opportunities connected with, certain lithium brine claims held by the Company in the province of Catamarca, Argentina. The claims are principally located in the two geological basins known as the Antofalla Salar and the Pipanaco Salar in South America’s famed Lithium Triangle. Edison is assessing the opportunities to determine which, if any, align with the Company’s development plans.
By way of update regarding the proposed spin-out of the Company’s cobalt assets in northeastern Ontario, referred to as the Kittson Cobalt Property (the “Spin-Out”) to be carried out by way of statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (see the Company’s news releases of March 28, 2023 and July 13, 2023), preparations are moving forward smoothly with the Company seeking to complete the Spin-Out, subject to the receipt of requisite approvals, within the first half of 2024.
The proposed Spin-Out will be subject to the terms of an arrangement, approval of shareholders at a meeting of Edison shareholders, approval of the British Columbia Supreme Court, and approval of the TSX Venture Exchange. The particulars of the Spin-Out are not yet final and shareholders are cautioned that there can be no assurance that the Spin-Out will be completed on the terms previously disclosed or at all. Further details of the Spin-Out will be announced in a subsequent news release.
An updated NI 43-101 technical report dated October 27, 2023, on the Kittson Cobalt Property is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on Edison’s website at www.edisonlithium.com.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, and other energy metal properties. The Company’s acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
Chief Executive Officer and Director
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Disclaimer:This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates” “believes”, “intends”, “estimates”, “potential” “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company’s exploration plans and the receipt of any regulatory or governmental approvals required to complete such exploration plans, the impact of exploration and results obtained therefrom, potential collaborations to develop claims in the Salar of Antofalla, the Warrant Extension and receipt of all necessary approvals in connection therewith. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions, as well as the ability of the Company to obtain all required regulatory and governmental approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Company seeks safe harbor.