LPI 0.00% 26.5¢ lithium power international limited

Takeover of BRZ soon by LPI ? Bearing Lithium puts itself on the block !

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    2020-02-06 10:22 ET - News Release

    Mr. Gil Playford reports

    BEARING ANNOUNCES ADVISORY AGREEMENT WITH LEEDE JONES DisallowedLE INC.Bearing Lithium Corp. has entered into an financial consulting agreement with Leede Jones Disallowedle Inc., pursuant to which Leede has agreed to provide advisory services in connection with the company's review of strategic alternatives, including, without limitation, acquisitions or dispositions of assets; joint venture agreements for mineral properties with, or without, participating interest buyout provisions; amalgamations; mergers; takeovers; or other corporate reorganizations.

    Under the terms of the Agreement, the Company has agreed to pay Leede aggregate advisory fees of $120,000 (the "Advisory Fee"). The additional success-based fees to be paid to Leede in connection with any specific Transaction will be determined in accordance with the Advisory Agreement and are subject to prior approval of the TSX Venture Exchange.Subject to approval of the TSX Venture Exchange, in order to preserve cash, the Company intends to issue common shares of the Company ("Common Shares") to Leede as settlement of the outstanding Advisory Fee (the "Debt Settlement"). In the event the Debt Settlement completes, an aggregate of 1,000,000 Common Shares would be issued to Leede at a deemed price of $0.12, being the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange) of the Common Shares.

    About Leede Jones Disallowedle Inc.Leede Jones Disallowedle Inc. is Canada's newest national, independent employee owned, investment dealer. With roots that extend back more than 50 years, Leede Jones Disallowedle Inc. came about as a result of the recent merger between Leede Financial Markets Inc. and Jones, Disallowedle & Company Limited.About Bearing Lithium Corp.Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is an 18% 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$50 million has been invested in the Maricunga Project to date and all expenditures through to the delivery of a Definitive Feasibility Study have been fully-funded by the earn-in joint-venture partner.We seek Safe Harbor.

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