United Lithium Corp. Announces Automatic Exercise of Special Warrants

Rhea-AI Summary

United Lithium Corp. (CSE:ULTH, OTC PINK:ULTHF) has announced the automatic exercise of 13,939,394 Special Warrants as of September 9, 2021, converting them into Units at a ratio of 1.14 per Warrant. Each Unit consists of one common share and half a Common Share purchase warrant. Warrant holders can acquire shares at $0.85 until March 8, 2023. Additionally, compensation and advisory options issued will allow the purchase of Units at $0.66 per option until the same date. The company continues to target lithium projects in stable jurisdictions to meet global lithium demand.

Positive

• Automatic exercise of 13,939,394 Special Warrants enhances liquidity and shareholder value.
• Each Unit conversion includes common shares potentially increasing market capitalization.
• Compensation options add further incentive for stakeholders and could attract additional investment.

Negative

• None.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / September 13, 2021 / United Lithium Corp. (CSE:ULTH)(OTC PINK:ULTHF)(FWB:0UL) ("ULTH" or the "Company") announces, further to its news releases dated March 9, 2021 and July 9, 2021 regarding the private placement (the "Private Placement") of 13,939,394 special warrants of the Company (the "Special Warrants") completed on March 8, 2021, that all unexercised Special Warrants were automatically exercised as of September 9, 2021. Accordingly, each Special Warrant has been converted into one-and-one fourteenth (1.14) of a unit ("Units"), each Unit being comprised of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a "Warrant Share") at an exercise price of $0.85 per Warrant Share until March 8, 2023.

The Company also announces that the 547,445 compensation options and 218,978 advisory options issued pursuant to the Offering will now entitle the holders thereof to purchase one-and-one-fourteenth (1.14) of a Unit at an exercise price of $0.66 per option until March 8, 2023.

On behalf of the Board of Directors,
United Lithium Corp.
Michael Dehn, President, CEO and Director

For further information, please contact the Company at:
ir@unitedlithiumcorp.com
www.unitedlithiumcorp.com

About United Lithium Corp.

United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.

The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at www.unitedlithiumcorp.com or under its profile on SEDAR at www.sedar.com.

Forward Looking Statements

This news release contains forward-looking statements. All statements included in this release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. 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. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release

SOURCE: United Lithium Corp.

View source version on accesswire.com:
https://www.accesswire.com/663893/United-Lithium-Corp-Announces-Automatic-Exercise-of-Special-Warrants

FAQ

What is the significance of the automatic exercise of Special Warrants for ULTHF?

The automatic exercise of Special Warrants for ULTHF increases liquidity and enhances shareholder value by converting these into Units that include common shares and purchase warrants.

What are the terms for exercising the Warrants related to United Lithium Corp.?

The Warrants can be exercised at an exercise price of $0.85 per share until March 8, 2023.

How does the exercise of Special Warrants impact United Lithium Corp.'s financials?

The conversion of Special Warrants into Units increases the number of common shares in circulation, potentially impacting market capitalization and liquidity.

What are the exercise prices for the options issued by United Lithium Corp.?

The compensation options will allow holders to purchase Units at an exercise price of $0.66 per option until March 8, 2023.