SOURCE: Neo Lithium Corp.

Neo Lithium Corp.

October 31, 2017 08:00 ET

Neo Lithium Announces Acceleration of Expiry Date of Outstanding Warrants for Proceeds of up to C$15.6M

TORONTO, ON--(Marketwired - October 31, 2017) - Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSX VENTURE: NLC) (OTCQX: NTTHF) is pleased to confirm that the Company has elected to accelerate the expiry date of 11,175,910 outstanding warrants (the "Warrants") issued in its private placement of units completed on February 22, 2017. Each Warrant may be exercised to acquire one common share of Neo Lithium (a "Common Share") at an exercise price of $1.40 (the "Exercise Price"), for gross proceeds to Neo Lithium of up to C$15.6 million if all Warrants are exercised. As at October 27, 2017 190,000 warrants have been exercised for gross proceeds to Neo Lithium of C$266,000.

Under the terms of the Warrants, Neo Lithium is permitted to accelerate the expiry date of the Warrants if the Common Shares trade on the TSX Venture Exchange at a closing price greater than or equal to the Exercise Price for a period of 20 consecutive trading days (the "Acceleration Event"). Neo Lithium is pleased to confirm that an Acceleration Event occurred as of October 27, 2017. Accordingly, Neo Lithium has chosen to accelerate the expiry time of the Warrants to 5 p.m. (Toronto time) on November 30, 2017 (the "Accelerated Expiry").

Notice of the Accelerated Expiry will be given to the warrant agent and all registered holders of Warrants effective today, in accordance with the terms of the warrant indenture.

About Neo Lithium Corp.

Neo Lithium Corp. is an established lithium brine exploration company focused on its wholly-owned, 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.

Cautionary Note Regarding Forward Looking Statements -- Certain information set forth in this news release may contain forward-looking statements. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results and relating to resource estimations, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to lithium and potash price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and 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 and undue reliance should not be placed on forward-looking statements.

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