ION Closes Upsized Non-Brokered Private Placement

Core Viewpoint - Lithium ION Energy Limited has successfully closed a non-brokered private placement offering, raising gross proceeds of $1,409,500 through the issuance of 35,237,500 units at a price of $0.04 per unit [1][3]. Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the purchase of one common share at $0.05 within 24 months from the closing date [2]. - The company paid finder's fees totaling $44,070 and issued 1,101,750 finder's warrants to assist in the offering [3]. - All securities issued are subject to a four-month hold period expiring on July 14, 2026, in accordance with applicable securities laws [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to explore new growth opportunities, maintain the existing exploration portfolio, and for general working capital [3]. Group 3: Related Party Transactions - Directors and/or officers of the company subscribed for a total of 3,250,000 units for gross proceeds of $130,000, which is classified as a related party transaction [5]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the insider participation not exceeding 25% of the company's market capitalization [5]. Group 4: Stock Options - The company granted 7,000,000 incentive stock options to directors, officers, and consultants, each exercisable at $0.05 per share for five years [6]. - The stock options vest immediately and are subject to the terms of the incentive stock option plan and TSX Venture Exchange policies [6].