(TheNewswire)
December 19, 2018 / TheNewswire / Vancouver, British
Columbia; - LiCo Energy Metals Inc. (“the Company“ or “LiCo”) TSX-V: LIC, OTCQB: WCTXF announces a non-brokered private placement offering of up to 2,667,000 flow-through units (“FT Units”) and
up to 4,000,000 non flow-through units (“Units”) both at a price of $0.075 per FT Unit and $0.075 per Unit raising total combined
proceeds of up to $500,000. The private placement details and subscription agreements will now be available to
investors on the Stockhouse Deal Room (Stockhouse Deal
Room).
Each FT Unit and Unit is comprised of one common share of the Company and one share purchase warrant.
Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the Company at an
exercise price of $0.10 per share, for a period of two years from closing, subject to TSX Venture Exchange (“Exchange”)
approval.
The proceeds from the FT Units will be used to advance the Company’s Teledyne and Glencore Bucke Properties, in
Cobalt Ontario. The proceeds from the Units will be used for advancement and development of the Company’s other mineral
exploration projects and for general working capital purposes.
All securities issued in connection with the private placement are subject to a four month and a day hold
period in accordance with applicable Securities Laws.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture
Exchange. The Company's focus is directed towards exploration for high value metals integral to the manufacture of lithium ion
batteries.
Ontario Cobalt Properties: The Company has entered into an Option
Agreement with Surge Exploration Inc. (“Surge”) whereby Surge can earn an undivided 60% interest in the Glencore Bucke and the
Teledyne Cobalt Properties, located in Cobalt Ontario, subject to certain cash, share and exploration payments to LiCo. Upon
Surge having exercised the Option, Surge will have earned an undivided 60% interest in the Cobalt Properties, and the parties will
enter into a Commercially Reasonable and Definitive Joint Venture Agreement.
LiCo has received an independent third-party fairness opinion from an experienced and qualified P.Geo. relating
to the Cobalt Properties. The fairness opinion confirms and concludes the terms of the Option Agreement between the Company
and Surge is fair to the shareholders of the Company.
Chile Purickuta Lithium Project:
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about 100
km long, 80 km wide and home to approximately 37% of the worlds Lithium production. The property of 160 hectares is
enveloped by a concession owned by Sociedad Quimica y Minera (“SQM”) and lies, significantly, within a few kilometers of the
property of CORFO (the Chilean Economic Development Agency) where its leases to both SQM and Albermarle’s Rockwood Lithium Corp
Together these two companies have combined production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) annually making
up 100% of Chile’s current lithium output. The unique characteristics of Salar de Atacama make finished lithium carbonate
easier and cheaper to produce than any of its peer group globally.
The Purickuta Property is currently under Force Majeure as mentioned in previous news
releases.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 100% interest,
subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert, Washoe County, Nevada.
On Behalf of the Board of Directors
“Rick Wilson”
Rick Wilson, President &CEO
Neither the 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.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of
historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not
guarantees of future performance and actual results may vary materially from those statements. General business conditions are
factors that could cause actual results to vary materially from forward-looking statements.
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