VANCOUVER, British Columbia, July 14. 2022 (GLOBE NEWSWIRE) — LithiumBank Resources Corp. (“LithiumBank or the “Company”) (TSXV: LBNK) (OTCQX: LBNKF) is pleased to announce that the common shares of the Company have commenced trading on the OTCQX® Best Market, an over-the-counter public market in the United States, under the ticker symbol LBNKF. symbol “LBNK”.
“We are excited to begin trading on the OTCQX market, which we believe will increase our visibility and accessibility to current and potential investors in the United States as we continue to advance the exploration and development of our projects. in western Canada. We also anticipate We look forward to seeing the results of our preliminary economic assessment currently underway with Hatch Ltd. on our flagship Boardwalk project in Sturgeon Lake, Alberta in the next quarter,” said said Rob Shewchuk, Director and Chief Executive Officer, “our market information, transparency, liquidity and ease of trading in the company’s securities, and will be a benefit to all of our shareholders as we present our corporate developments. at Boardwalk and other projects in our portfolio of more than 3.2 million acres over the remainder of 2022 and into 2023.
The OTCQX market is designed for established, investor-focused US and international businesses. To be eligible for the OTCQX, companies must meet prescribed financial standards, follow certain corporate governance guidelines and demonstrate compliance with applicable securities laws. Trading on the OTCQX market marks an important milestone for companies, allowing them to demonstrate their qualifications and gain visibility with US investors. Investors can find information and trading status on LithiumBank at https://www.otcmarkets.com.
LithiumBank is also pleased to announce that, subject to regulatory approval, the Company has engaged Independent Trading Group Inc. (“ITG”) to provide services as a Market Maker in accordance with the policies of the TSXV. ITG is expected to trade the Company’s shares on the TSX Venture Exchange and all other trading platforms in order to maintain an orderly market and improve the liquidity of the Company’s common shares.
ITG will not receive shares or options in compensation. However, ITG and its clients may have or acquire a direct interest in the securities of the Company. LithiumBank and ITG are unrelated and unaffiliated entities. ITG is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and has access to all Canadian stock exchanges and alternative trading systems. The capital and securities required for any transaction undertaken by ITG as principal will be provided by ITG.
Pursuant to the services agreement entered into between LithiumBank and ITG (the “Agreement”), the Company will pay ITG a fee of CA$7,000.00 per month. The Agreement between the Company and ITG is for an initial term of three (3) months and will automatically renew for subsequent one-month periods unless terminated by either party upon written notice of 30 days. There are no performance factors contained in the Accord. ITG will be responsible for the costs it incurs in its transactions and no third parties will provide funds or securities for market making activities.
About LithiumBank Resources Corp.
LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where rapid, low carbon impact DLE technology can be deployed. LithiumBank currently holds over 3.2 million acres of mining claims, 2.82 million acres in Alberta and 326,000 acres in Saskatchewan. LithiumBank’s claims are strategically positioned on known reservoirs that offer a unique combination of exceptional scale, grade and throughput required for large-scale direct production of lithium in brine. LithiumBank is advancing and de-risking several projects alongside the Boardwalk Lithium Brine project.
CEO and Director
Neither the 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..
Caution Regarding Forward-Looking Statements:
This release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this press release, other than statements of historical facts, including statements regarding future estimates, plans, goals, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to the expected impact and benefits of the listing of the Company’s shares on the OTCQX market, the timing and completion of the preliminary economic assessment of the Boardwalk project, the agreement with ITG and its impact, and the company’s future developments on the Company’s projects.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “should” or “would”. Forward-looking statements are based on certain important assumptions and analyzes made by LithiumBank and on the opinions and estimates of management as of the date of this press release, including management’s expectation that listing on the OTCQX market will increase visibility and accessibility for investors located in the United States and provide benefits to shareholders of the Company by increasing information on the market, transparency and liquidity around the Company’s securities, that the preliminary economic assessment will be completed during the next quarter, that the Company receives r regulatory approval to enter into the agreement with ITG and the benefits expected therefrom, and that the Company will provide future updates on corporate development on the Company’s various projects.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance or achievements of LithiumBank to be materially different from those expressed or implied by such forward-looking statements or forward-looking statements. – search for information. Important factors that could cause actual results to vary include, but are not limited to, the failure of the listing on the OTCQX market to increase the interest of potential investors in the Company’s securities, such listing on the OTCQX market n will not result in an increase in market information or transparency about the company, and will not result in an increase in the liquidity and ease of trading of the company’s shares, that the preliminary economic assessment will not be completed within the timeframe anticipated by management, that the Company will not receive regulatory approval for the agreement with ITG, or that the approval will be on terms unfavorable to the Company. Although LithiumBank’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements or information, there may be other factors that cause results to differ materially. are not those anticipated, estimated or intended. 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 forward-looking statements and forward-looking information. Readers are cautioned that reliance on this information may not be appropriate for other purposes. LithiumBank does not undertake to update any forward-looking statements, forward-looking information or financial outlook which are incorporated by reference herein, except in accordance with applicable securities laws.