Lithium Energy Products Announces Proposed Shares For Debt Settlement

02/06/18 12:02 PM EST

(TheNewswire)



TORONTO, ONTARIO / TheNewswire / February 6, 2018 – Lithium Energy Products Inc.  (“ Lithium ” or the “ Company ”) (TSX-V:LEP) (FRANKFURT:N8I) announces that it proposes to settle outstanding debt in the aggregate of $200,000 (the “ Debt ”) owed to one arm’s length creditor of the Company. Lithium intends to issue an aggregate of 4,000,000 common shares in the capital of the Company (the “ Debt Shares ”) at a deemed price of $0.05 per Debt Share to settle the Debt in full (the “ Debt Settlement ”).

 

The Debt Settlement is subject to the approval of the TSX Venture Exchange (the “ TSXV ”). The Debt Shares, if issued, will be issued in reliance on certain prospectus exemptions available under applicable securities legislation and will be subject to a hold period of four months and one day in accordance with applicable securities legislation and TSXV requirements.

 

About Lithium Energy Products Inc.

 

Lith­ium is a Canadian junior exploration company publicly traded on the TSXV. The Company is focused on developing lithium properties in the USA. For further information, please visit our website at www.lithiumenergyproducts.com .

 

Contact Information:

James Walker

Chief Executive Officer

 

Lithium Energy Products Inc.

T: 604-566-8570

F: 604-602-9868

E: jwalker@lithiumenergyproducts.com

  

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.

  

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