Lithium Ionic Announces Upsize of Non-Brokered Private Placement to $15 Million

Core Viewpoint - Lithium Ionic Corp. has announced an upsized non-brokered private placement due to strong investor demand, aiming to raise up to $15 million through the issuance of units priced at $0.70 each [2][4]. Group 1: Offering Details - The upsized offering will consist of up to 21,428,571 units, each comprising one common share and one warrant [2][3]. - Each warrant allows the holder to purchase one common share at an exercise price of $0.90 for a period of 24 months following the offering's completion [3]. - The first tranche of the offering is expected to close around September 29, 2025, pending necessary approvals [4]. Group 2: Use of Proceeds - The net proceeds from the upsized offering will be allocated for exploration and development of the company's Brazilian properties, as well as for general corporate purposes [4]. Group 3: Company Overview - Lithium Ionic Corp. is a Canadian mining company focused on exploring and developing lithium properties in Brazil, particularly the Itinga and Salinas projects, which cover 14,668 hectares in a promising mining region [6]. - The Itinga Project is located near established lithium operations, including CBL's Cachoeira lithium mine and Sigma Lithium Corp.'s Grota do Cirilo project, which is noted for hosting the largest hard-rock lithium deposit in the Americas [6].