News Release

Neo Lithium Announces Closing of $30 million Bought Deal Private Placement

TORONTO, ONTARIO–(Marketwired – Nov. 21, 2017) –


Neo Lithium Corp. (“Neo Lithium” or the “Company“) (TSX VENTURE:NLC) is pleased to announce it has completed the “bought deal” private placement financing (the “Offering“) announced on October 31, 2017, as increased on November 1, 2017, through a syndicate of underwriters led by Cormark Securities Inc., and including Canaccord Genuity Corp., GMP Securities L.P., Sprott Capital Partners, a division of Sprott Private Wealth L.P., and PowerOne Capital Markets Limited (collectively, the “Underwriters“).

The Company issued 15,404,600 common shares in the capital of the Company (“Common Shares“) in the Offering at a price of $1.95 per Common Share (the “Issue Price“) for aggregate gross proceeds to the Company of $30,038,970, which included the full exercise of the Underwriters’ option to purchase for resale up to an additional 15% of the Common Shares constituting the base Offering size.

The net proceeds of the Offering are expected to be used for advancement of the Company’s Tres Quebradas lithium project in Catamarca, Argentina, and for general corporate purposes.

The Underwriters received a cash commission in connection with the Offering equal to 5% of the aggregate gross proceeds raised. In addition, the Underwriters received 308,092 broker warrants (the “Broker Warrants“), with each Broker Warrant being exercisable to purchase one Common Share at the Issue Price for 24 months from the date hereof.

The securities issued under the Offering (and any securities issued upon the exercise thereof) are subject to a hold period which will expire four months and one day from the date hereof, being March 22, 2018.

About Neo Lithium Corp.

Neo Lithium Corp. is an established lithium brine exploration company focused on its wholly owned, high quality 3Q Project located in Latin America’s Lithium Triangle in the Province of Catamarca, Argentina.

The Company is quickly advancing the 3Q Project given the rapidly growing lithium battery market that is driven largely by the growth of the electric vehicle market, and other consumer electronic products as the world moves towards cleaner and more efficient sources of energy.

Neo Lithium is well capitalized to continue the rapid development of its 3Q Project, a unique high-grade and low impurity lithium brine lake and salar complex, which encompasses approximately 35,000 hectares.

The technical team that discovered this unique salar complex is one of the most experienced in the industry, having discovered and led the technical work, including resource definition and full feasibility study that established the Cauchari lithium salar as the third largest lithium brine resource in the world.

Additional information regarding Neo Lithium Corp. is available on SEDAR at under the Company’s profile.

Neither 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. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements as to the expected use of proceeds of the Offering. Generally, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “is expected”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.