Lithium Ionic Announces Binding Term Sheet for US$20 Million Royalty Financing with Appian

TORONTO, May 30, 2024 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”), is pleased to announce that it has executed a binding term sheet (the “Term Sheet”) with Appian Capital Advisory LLP (“Appian”) to sell a 2.25% gross revenue royalty on its Bandeira Deposit in exchange for an upfront cash consideration of US$20,000,000 (the “Royalty”). Appian is an investment advisor to long-term, value-focused private capital funds that invest solely in mining and mining-related companies.