Neo Lithium announces $20M bought deal

Neo Lithium Corp.



News Release

NEO LITHIUM CORP. ANNOUNCES $20 MILLION BOUGHT DEAL FINANCING

Not for distribution to United States newswire services or for dissemination in the United States

October 31, 2017, Toronto, Ontario – Neo Lithium Corp. (TSX Venture: NLC) (“Neo Lithium” or the “Company”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. who will lead a syndicate of underwriters (collectively the “Underwriters”), and has agreed to purchase, on a bought deal basis, 10,300,000 common shares (the “Shares”) of the Company at a price of $1.95 per Share (the “Issue Price”), for gross proceeds to the Company of approximately $20 million (the “Offering”).

The net proceeds of the Offering are expected to be used for advancement of the Company’s Tres Quebradas lithium project in Catamarca, Argentina and general corporate purposes.

The Underwriters have also been granted an option, exercisable in whole or in part at any time prior to the closing date, to purchase for resale up to an additional 15% of the Shares sold pursuant to the Offering at the Issue Price.

The Offering is expected to close on or about November 21, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities. The Underwriters have agreed to endeavour to arrange for substituted purchasers for the Shares.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for account or benefit of, U.S. persons, absent registration or applicable exemption from the registration requirements. Any public offering of securities in the United States must be by means of a prospectus containing detailed information about the Company and management as well as financial statements.

About Neo Lithium Corp.

Neo Lithium Corp. is an established lithium brine exploration company focused on its whollyowned, high quality 3Q Project located in Latin America’s Lithium Triangle in the Province of Catamarca, Argentina. The Company is quickly advancing the 3Q Project given the rapidly growing lithium battery market that is driven largely by the growth of the electric vehicle market, and other consumer electronic products as the world moves towards cleaner and more efficient sources of energy.

Neo Lithium is well capitalized to continue the rapid development of its 3Q Project, a unique high-grade and low impurity lithium brine lake and salar complex, which encompasses approximately 35,000 hectares.

The technical team that discovered this unique salar complex is one of the most experienced in the industry, having discovered and led the technical work, including resource definition and full feasibility study that established the Cauchari lithium salar as the third largest lithium brine resource in the world.

Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company’s profile and at its website at www.neolithium.ca, including various pictures of ongoing work at the 3Q Project.

Neither 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. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.