Vancouver, British Columbia, June 8, 2018. LITHIUM ENERGY PRODUCTS INC. ("Lithium Energy Products” or “LEP” or the “Company”) (TSX-V: LEP) (FRANKFURT: N8I) is pleased to announce that the TSX Venture Exchange (“TSXV”) has given final approval of a shares for service agreement between the Company and Golden Hammer Exploration Ltd. (“Consultant”). Pursuant to the terms of the Agreement, the Company will be issuing 150,000 common shares of the Company (“Shares”) at a deemed issue price of $0.435 per Share for a total of $65,250.
TSXV has also approved, and the Company has completed, a settlement of certain debts previously owing through the issuance of Shares to Josephine Deacon (“Deacon”). The debt owing to Deacon was in the amount of $360,000, and pursuant to the terms of the Agreement, the Company elected to pay the debt in Shares on May 29, 2018. This debt was extinguished through the issuance of 600,000 Shares to Deacon. The number of Shares issued was based on a deemed issue price of $0.60 per Share.
Shares issued in connection with the settlement of debts and the advisory services will be subject to a statutory hold period until September 30, 2018.
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.