TSX VENTURE COMPANIES
BEARING LITHIUM CORP. ("BRZ")
BULLETIN TYPE: Plan of Arrangement-, Delist, Remain Halted
BULLETIN DATE: December 22, 2022
TSX Venture Tier 2 Company
Further to Bearing Lithium Corp. ("Bearing" or the "Company") news releases dated June 22, 2022, July 5, 2022, September 28, 2022, October 31, 2022, November 1, 2022, November 3, 2022, November 4, 2022, December 12, 2022, and December 22, 2022 the Company has completed a plan of arrangement (the "Arrangement") with Lithium Power International Ltd. ("LPI") (ASX: LPI) and LPI's wholly owned subsidiary, LPI Canada Holdings Ltd. ("LPI Canada"). Pursuant to the Arrangement, LPI Canada acquired all of the Company's common shares in exchange for ordinary shares of LPI based on an exchange ratio equal to 0.7 of a LPI share for each share of Bearing outstanding.
The Arrangement was approved by the Company's securityholders at a special meeting of securityholders held on October 28, 2022. The TSX Venture Exchange (the "Exchange") has been advised that the Supreme Court of British Columbia provided its final order approving the plan of arrangement on November 2, 2022. The closing of the arrangement occurred on December 22, 2022.
As a result of the completion of the Arrangement, the common shares of the Company will be delisted from the Exchange effective at the close of business on Friday, December 23, 2022. Further to the Exchange Bulletin dated December 20, 2022, trading in the shares of the Company will remain halted while the Company remains listed on the Exchange.
For more information, please consult the Company's Management Information Circular dated September 27, 2022, which is available on SEDAR.
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