POCML 6 Inc. and Lithium Ionic Inc. Announce Increase to Marketed Offering of Subscription Receipts

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, Jan. 18, 2022 (GLOBE NEWSWIRE) -- POCML 6 Inc. (TSXV: POCC.P) (the “Company”) and Lithium Ionic Inc. (“Lithium Ionic”) are pleased to announce today that, due to strong demand, Lithium Ionic has agreed with Clarus Securities Inc. (“Clarus” and “Lead Agent”) on behalf of a syndicate of agents including PowerOne Capital Markets Limited, iA Private Wealth Inc., Haywood Securities Inc., and Research Capital Corp. (collectively, the “Agents”), to increase the size of its previously announced C$10,000,000 “best efforts” private placement offering. Pursuant to the upsized deal terms, the Agents have agreed to increase the offering to 20,000,000 subscription receipts of Lithium Ionic (the “Subscription Receipts”), at a price of C$0.70 per Subscription Receipt (the “Offering Price”) for aggregate gross proceeds to Lithium Ionic of C$14,000,000 (the “Offering”). All other terms of the previously announced financing announced on January 12, 2022, shall remain in full force and effect, unamended.

Lithium Ionic intends to use the net proceeds of the Offering for (i) exploration of the Itinga Project, and (ii) general corporate and working capital purposes following completion of the previously announced qualifying transaction with the Company.

The Offering is scheduled to close on or about February 3, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada. The securities to be issued under this Offering may also be offered offshore, including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.

For further information, please contact:

POCML 6 Inc.
David D'Onofrio
Director
p:(416) 643-3880

Lawrence Guy
Lithium Ionic Inc.,
Director
p:416-930-7660

NEITHER 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.

Cautionary and Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate, among other things, to: the Offering and certain terms and conditions thereof; the use of proceeds from the Offering, and corporate and regulatory approvals. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.


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