Bulletin Contents
Search
Home Page
 
*Bearing Lithium Corp. 
Listed Company 

BEARING LITHIUM CORP. ("BRZ")
BULLETIN TYPE: Property-Asset or Share Acquisition Agreement
BULLETIN DATE: September 29, 2017
TSX Venture Tier 2 Company

TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with an agreement and plan of merger (the "Agreement") between Bearing Lithium Corp. ("Bearing") and Li3 Energy Inc. (Li3") dated January 27, 2017. Pursuant to the Agreement, a newly formed wholly-owned subsidiary of Bearing with merge with and into Li3 which will result in Li3 becoming a wholly-owned subsidiary of Bearing. Bearing will issue 16,000,000 common shares in order to acquire all of the issued and outstanding shares of Li3.

Following completion of the transaction, Bearing will hold a 17.7% interest in the Maricunga Project, located in Chile, along with Minera Salar Blanco ("MSB") and Lithium Power International Limited ("Lithium Power") at 32.3% and 50% respectively pursuant to a joint venture arrangement (the "Joint Venture"). Under the terms of the Joint Venture, Lithium Power has agreed to fund exploration and development costs with both Li3 and MSB having a free carry until the completion of a definitive feasibility study.

Haywood Securities Inc. will receive a finder's fee of 949,540 common shares of Bearing in connection with the transaction.

Insider / Pro Group Participation: Nil.

For Further information, see Bearing's news releases dated November 28, 2016, December 12, 2016 and January 31, 2017 which are available under Bearing's profile on SEDAR.
________________________________________