/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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VAL-D'OR, QB, April 21, 2021 /CNW Telbec/ - Vision Lithium
Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the "Company"
or "Vision Lithium") is pleased to announce the completion
of a non-brokered private placement for aggregate gross proceeds of
$3,622,949.78 (the
"Offering"). The Offering consisted of: (i) 15,097,499
flow-though units of the Company (the "FT Units") at
a price of $0.22 per FT Unit; and
(ii) 1,675,000 non-flow-through units of the Company (the
"Units") at a price of $0.18
per Unit. Each FT Unit consists of one common share of the Company
issued as a "flow-through share," within the meaning of subsection
66(15) of the Income Tax Act (Canada) (a "Flow-Through Share"), and
one-half of one common share purchase warrant (each whole common
share purchase warrant, a "Warrant"), with each Warrant
entitling the holder thereof to purchase one common share of the
Company at price of $0.30 per share
for a period of 2 years following the date of issuance. Each Unit
consists of one common share of the Company and one-half of one
Warrant, with each whole Warrant entitling the holder thereof to
purchase one common share of the Company at price of $0.25 per share for a period of 2 years following
the date of issuance.
Victor Cantore, Chairman of the
Board, commented, "With the closing of this transaction we are well
financed to explore our lithium and copper assets in Canada. Both commodities are strategic metals
in the global electrification of transportation. Our assets are all
located within safe, mining-friendly jurisdictions and we intend to
release an updated exploration plan in the coming days."
In connection with the Offering, the Company paid certain
eligible third parties dealing at arm's length with the Company
(the "Finders"): (i) cash commissions totalling $233,554.37, representing 8% of the proceeds
raised from subscribers introduced to the Company by such Finders;
and (ii) an aggregate of 1,063,429 non-transferable broker warrants
(the "Broker Warrants"), representing 8% of the number of FT
Units and Units sold to such subscribers, each exercisable to
acquire one common share of the Company for 2 years from the date
of issuance at the same exercise price of the Warrants comprising
the FT Units and Units in respect of which the Broker Warrants were
issued.
The Company intends to use the net proceeds of the Offering for
exploration of certain of its properties and for general corporate
and working capital purposes.
All securities issued under the Offering are subject to a hold
period of four months and one day from their date of issuance. The
Offering remains subject to the final acceptance of the TSX Venture
Exchange (the "TSXV").
The offered securities have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on
exploring and developing high quality mineral assets including
lithium, copper, gold and base metals in safe jurisdictions,
primarily in Canada. The Company
is led by skilled and qualified mineral exploration experts and
business professionals with a deep understanding of the lithium
battery materials market, which is driven by lithium ion batteries.
Vision Lithium is committed to discovering new world class assets
and bringing these assets to production, starting with its flagship
projects the Godslith lithium property located in Manitoba and the Sirmac lithium property and
Dôme Lemieux copper-zinc property,
both located in Quebec, as well as
its polymetallic properties in New
Brunswick.
For further information on the Company, please visit our website
at www.visionlithium.com or contact us at
info@visionlithium.com.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
news release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation based on
expectations, estimates and projections as at the date of this news
release. Forward-looking information involves risks, uncertainties
and other factors that could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, the use of proceeds; the timing and ability of the
Company, if at all, to obtain final acceptance of the Offering from
the TSXV; the tax treatment of the Flow-Through Shares; objectives,
goals or future plans; and statements regarding exploration plans.
Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to,
capital and operating costs varying significantly from estimates;
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; changes in equity
markets; fluctuations in commodity prices; delays in the
development of projects; other risks involved in the mineral
exploration and development industry; and those risks set out in
the Company's public documents filed on SEDAR at www.sedar.com.
Although the Company believes that the assumptions and factors used
in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
SOURCE Vision Lithium Inc.