Bearing Announces Director Appointment

Rhea-AI Summary

Bearing Lithium Corp. appointed Martin Gubbins to its Board of Directors as of September 24, 2021. Gubbins, a lawyer with 25 years of experience in environmental litigation, brings a wealth of local expertise. Additionally, the company granted him 1,000,000 stock options at $0.23 each for five years. Bearing Lithium holds a 17.14% interest in the Maricunga Lithium Brine Project in Chile, a highly regarded facility in the lithium industry with over $67 million invested to date. Chairman Gil Playford highlighted the significance of Gubbins’ appointment.

Positive

• Appointment of Martin Gubbins as a director enhances legal expertise.
• Issuance of 1,000,000 stock options could align director's interests with shareholder value.
• Investment in Maricunga Lithium Brine Project signifies strong company assets with over $67 million already invested.

Negative

• None.

VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture:BRZ) (OTCQB:BLILF) the Company is pleased to announce the appointment of Martin Gubbins to its Board of Directors.

Mr. Gubbins is a Chilean lawyer with 25 years of experience as an associate and partner of local law firms specializing in environmental litigation. He has also served as an independent legal advisor over the last three years. Mr. Gubbins has served as a board member for various private companies in Chile, with both Chilean and foreign investors. Mr. Gubbins is a member of the Advisory Legal Committee of Hogar de Cristo, the largest charity in Chile. From 2005-2018 he was a partner at CorreaGubbins (currently CorreaSquella) in Santiago, Chile. Mr. Gubbins graduated law school at the Universidad de Chile, Santiago. He also has a Master of Arts from the University of London.

The Company is also announcing that it has issued an aggregate of 1,000,000 stock options to its new director to purchase up to 1,000,000 common shares of the Company at a price of $0.23 per common share for a period of five years from grant, pursuant to its Stock Option Plan.

Bearing Lithium’s Chairman Gil Playford commented:

“Martin brings to the company local legal expertise and pragmatic business strategy and experience. He is well known to our Board and is joining us at an exciting time for the company’s participation in an advanced development project for the global lithium industry.”

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.

ON BEHALF OF THE BOARD

Signed "Gil Playford”
Gil Playford, Chairman
gplayford@bearinglithium.com

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.

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. 

FAQ

What is the significance of Martin Gubbins' appointment to Bearing Lithium Corp.?

Martin Gubbins' appointment enhances Bearing Lithium's legal expertise, particularly in environmental litigation, which is crucial for navigating regulatory challenges.

How many stock options were issued to Martin Gubbins?

Bearing Lithium issued 1,000,000 stock options to Martin Gubbins at a price of $0.23 per share for five years.

What is Bearing Lithium's stake in the Maricunga Lithium Brine Project?

Bearing Lithium holds a 17.14% interest in the Maricunga Lithium Brine Project, one of the highest-grade lithium brine deposits globally.

How much has Bearing Lithium invested in the Maricunga Project?

The company has invested over $67 million in the Maricunga Lithium Brine Project to date.