Lithium One Inc.
TSX VENTURE : LI

Lithium One Inc.

June 23, 2010 10:40 ET

Lithium One Retains Peter Grandich for Public Relations and Marketing Services

VANCOUVER, CANADA--(Marketwire - June 23, 2010) - Lithium One Inc. (the "Company") (TSX VENTURE:LI), is pleased to announce that it has engaged the services of Mr. Peter Grandich (the "Consultant") to assist with the Company's public and investor relations and communications programs. Mr. Grandich specializes in the development and management of customized public relations and marketing programs to public and private companies in North America. He is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts and is the editor of The Grandich Letter, first published in 1984. Mr. Grandich will be assisting Lithium One to develop and enhance its communications with the investment community and broader industry stakeholders. 

Under the terms of the agreement, the Company will pay the Consultant a monthly fee of US$2,000. The Company has also agreed to grant the Consultant 150,000 incentive stock options at an exercise price of $1.07 per share. These options are granted for a period up to two years and are subject to the terms of the Company's stock option plan. The grant is also subject to vesting provisions in accordance with the rules of the TSX Venture Exchange. The agreement is for an initial term of 12 months.

The Consultant is at arm's length to the Company. To the Company's knowledge, the Consultant does not own any shares or other securities of the Company, other than the options disclosed above.

The agreement is subject to regulatory approval and all terms are subject to and in accordance with the rules of the TSX Venture Exchange.

Correction

In the Company's June 22nd 2010 news release (NR-07), the expiry of the incentive stock options should have been listed as June 22, 2015. 

About Lithium One:

Lithium One Inc. is a Canadian-based explorer and developer of mineral properties with a specific focus on lithium. The Company has two major lithium projects: the brownfields Sal de Vida lithium brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. Korea Resources Corporation (KORES) is earning a 30% interest in the Sal de Vida project by funding up to US$15 million to complete a Definitive Feasibility Study, and has also provided a completion guarantee for Lithium One's share of the debt portion of the capital development costs. The Company continues to advance both its projects toward resource definition, expecting NI 43-101 compliant resource estimates during the second half of 2010. Lithium One believes that lithium demand will grow as its value as a preferred battery material is fully realized. The Company's strategy is to draw upon its quality team and employ best-practice to develop its portfolio of top-tier lithium assets.

ON BEHALF OF THE BOARD OF DIRECTORS,
 
Patrick Highsmith, M.Sc.
President and Chief Executive Officer
 
Lithium One Inc.
1238-200 Granville Street
Vancouver, BC  V6C 1S4 Canada
Email: info@lithium1.com
Website: www.lithium1.com

Forward-Looking Statements

This document may contain "forward-looking information" within the meaning of Canadian securities legislation (hereinafter referred to as "forward-looking statements"). All statements, other than statements of historical fact, included herein including, without limitation statements relating to; the completion of a Feasibility Study, the provision of a Completion Guarantee , and other matters related to the exploration and development of the Project, are forward-looking statements. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.

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.

Contact Information

  • Investor Inquiries:
    Lithium One Inc.
    Robert Orr
    604-697-6259
    604-408-4799 (FAX)
    ro@lithium1.com
    or
    Media Inquiries:
    Lithium One Inc.
    Chantelle Krish
    604-681-1407
    604-681-9816 (FAX)
    media@lithium1.com