Lithium Ionic Completes US$37.5 Million Sale of its Salinas Group of Lithium Properties to PLS
US$30.0 million in non-dilutive cash proceeds received at closing; retained 2.0% royalty preserves shareholder exposure
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TORONTO, Aug. 25, 2026 (GLOBE NEWSWIRE) — Lithium Ionic Corp. (TSXV: LTH; OTC: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) is pleased to announce that it has completed the previously announced sale of the Company’s Salinas group of lithium properties, which includes the Baixa Grande lithium resource (collectively, “Salinas”), located in Minas Gerais, Brazil, to PLS Brasil Mineração Ltda., a wholly-owned subsidiary of PLS Group Limited (“PLS”) (the “Transaction”) (see press release dated August 12, 2026). The Company received US$30.0 million in cash at closing.
A further US$7.5 million in deferred consideration (the “Deferred Consideration”) is payable to the Company in accordance with the terms of the Transaction agreements, on the earlier of (i) a positive final investment decision for PLS’ Colina Project, and (ii) December 31, 2029. The Company, through its wholly-owned subsidiary Neolit Minerals Participações Ltda, retains a 2.0% royalty on future spodumene sales (the “Royalty”).
Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “The completion of this transaction crystallizes significant value from Salinas while strengthening Lithium Ionic’s balance sheet with US$30.0 million in non-dilutive cash proceeds. In just over three years, our team advanced Salinas from an early-stage exploration opportunity to a monetized asset, while retaining shareholder exposure to future production through the royalty. With this transaction complete, our focus remains squarely on advancing our flagship Bandeira Lithium Project toward a construction decision and our objective of becoming a near-term, low-cost lithium producer.”
Further details regarding the Transaction are set out in the Company’s news release dated August 12, 2026, available under the Company’s SEDAR+ profile at www.sedarplus.ca or the Company’s website, www.lithiumionic.com.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
+1 647.316.2500
info@lithiumionic.com
About Lithium Ionic Corp.
Lithium Ionic is a Canadian lithium development company focused on responsibly advancing its Bandeira Lithium Project in Minas Gerais, Brazil, a region coined the “Lithium Valley” that is emerging as a premier hard-rock lithium district. The Company is executing on a focused development strategy centered on engineering de-risking, permitting advancement, commercial planning, and construction readiness, with the goal of becoming a near-term producer of high-quality spodumene concentrate for global battery supply chains.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements relating to: the receipt and timing of the Deferred Consideration; the Royalty and any payments thereunder; and the Company’s development strategy for the Bandeira Lithium Project. Forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulators. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.
The forward-looking information contained herein is made as of the date of this news release and is based on assumptions management believed to be reasonable, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release, which include, without limitation: credit and counterparty risk associated with the Deferred Consideration and the Royalty; the risk that no spodumene is produced or sold from Salinas, in which case no amounts would be payable under the Royalty; commodity price and foreign-exchange volatility; and risks associated with operating in Brazil, including the registration of mineral-right transfers with the Brazilian National Mining Agency (Agência Nacional de Mineração). Additional risk factors can also be found in the Company’s current MD&A and the Company’s other public filings, all of which have been filed under the Company’s SEDAR+ profile at www.sedarplus.ca. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.
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 or has in any way approved or disapproved of the contents of this news release.
