Vancouver, British Columbia, June 6, 2018. LITHIUM ENERGY PRODUCTS INC. ("Lithium Energy Products” or “LEP” or the “Company”) (TSX-V: LEP) (FRANKFURT: N8I) is pleased to announce that it has entered into an investor relations agreement (the “Agreement”) with Devon Capital Inc. (“Devon Capital”).
Devon Capital is a financing company specialising in raising capital for a diverse range of enterprises, including junior mining companies. After LEP’s new vanadium acquisition Devon Capital has partnered with LEP to acquire the funds necessary to complete the preliminary development work on the project. Devon Capital will also assist the Company in working and communicating efficiently with members of the Canadian financial community, including potential investors, journalists and newsletter writers as well as current shareholders to keep them informed and up-to-date on the Company's activities.
The Agreement is for an initial ten (10) business days until June 18, 2018, which may be extended at the option of the Company after June 19, 2018. In consideration for the services of Devon Capital, the Company has agreed to pay a fee of $40,000 payable in common shares of the Company (“Common Shares”), calculated using the Volume Weighted Average Price (“VWAP”) of the traded Common Shares on the facilities of the TSXV over the initial 10-day period, ending on the closing of trading on June 18, 2018.
LEP and Devon Capital are not related, and Devon Capital does not have any direct or indirect material interest in LEP or its securities, other than the Common Shares being paid to Devon Capital at the end of the Agreement. All matters reported herein are subject to TSX Venture Exchange approval and to compliance with all applicable regulatory requirements.
Completion of the Investor Relation Agreement is subject to the approval of TSXV. Common Shares to be issued in connection with the Investor Relation Agreement will be subject to a statutory hold period of four months and one day from the completion thereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
Lithium Energy Products Ltd.