Edison Lithium Announces Results of Annual General and Special Meeting

Rhea-AI Summary

Edison Lithium Corp. announces successful approval of resolutions at the annual and general special meeting of securityholders. Shareholders approve key resolutions including director elections, auditor re-appointment, stock option plan continuation, and Plan of Arrangement with Edison Cobalt Corp. The Company also ratifies the grant of 915,000 stock options and plans for private placement financing.

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2024) - Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce the results of its annual and general special meeting of securityholders (the "Meeting") held on February 26, 2024.

At the Meeting, the shareholders of the Company approved all resolutions placed before them by management as set out in the Company's management information circular dated January 12, 2024, and the related addendum dated January 31, 2024, including: (i) fixing the number of directors at five and electing Nathan Rotstein, James (Jay) Richardson, Luisa Moreno, Gordon Jang, and Roger Dahn as directors of the Company for the ensuing year; (ii) the re-appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as auditor of the Company for the ensuing year at a remuneration to be fixed by the directors; (iii) the continuation of the Company's 2022 stock option plan; (iv) the ratification of the grant of 915,000 stock options granted to directors and officers of the Company on September 7, 2023; (v) the statutory plan of arrangement (the "Plan of Arrangement") among the Company, the Company's securityholders and Edison Cobalt Corp. ("SpinCo"), a wholly owned subsidiary of the Company (which, in addition to the shareholders of the Company, was approved by the warrantholders and optionholders of the Company); (vi) the disposition of all or substantially all of the Company's undertaking; (vii) the adoption of SpinCo's stock option plan; and (vii) the proposed private placement financing of SpinCo.

The Plan of Arrangement remains subject to final TSX Venture Exchange approval and a final order from the Supreme Court of British Columbia.

About Edison Lithium Corp.

Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors:

"Nathan Rotstein"

Nathan Rotstein
Chief Executive Officer and Director
For more information please contact:
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199495

FAQ

What resolutions were approved at Edison Lithium Corp.'s annual and general special meeting of securityholders?

Shareholders approved resolutions including fixing the number of directors at five, electing directors for the ensuing year, re-appointing the auditor, continuing the stock option plan, ratifying the grant of 915,000 stock options, adopting SpinCo's stock option plan, and proposing private placement financing.

What is the Plan of Arrangement mentioned in the press release?

The Plan of Arrangement is a statutory plan involving the Company, securityholders, and Edison Cobalt Corp. It is subject to final TSX Venture Exchange approval and a final order from the Supreme Court of British Columbia.

What is the significance of the approval of the resolutions for Edison Lithium Corp.?

The approval of resolutions ensures key decisions regarding directorship, auditing, stock options, and financial arrangements are in place, indicating a positive direction for the Company's operations and future plans.

Who are the directors elected for the ensuing year at the meeting?

The directors elected for the ensuing year are Nathan Rotstein, James (Jay) Richardson, Luisa Moreno, Gordon Jang, and Roger Dahn.

What is the purpose of the proposed private placement financing of SpinCo?

The proposed private placement financing of SpinCo aims to provide financial support for the Company's operations and strategic initiatives.