January 20, 2023 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce plans to raise investor awareness of the Company.
Advisers have been retained to provide assistance for the inter-listing of Lithium South on the Australian Securities Exchange, the ASX. With an average daily turnover of A$4.685 billion and a market capitalization of around A$1.6 trillion (Note 1), the ASX is one of the world’s top twenty listed exchange groups. Management believes the inter-listing will provide added investor exposure and raise the profile of the Company, and compliment the current TSX Venture Exchange and OTCQB listings.
In addition to internal advertising and investor contact, the Company has retained AJS Management Corp. of Surrey, BC Canada, and TDM Financial of Whitefish, Montana USA to provide services as detailed below.
AJS is to provide the Company with certain services including (i) identifying potential transactions, financings, or acquisitions, (ii) introductions to potential investors, industry participants, and (iii) general advice on the exploration, development, and sale of projects.
As consideration of the month-to-month services provided by AJS, the Company has agreed to renumeration of $7,500 per month, plus applicable taxes, and (ii) 75,000 incentive stock options exercisable at $0.57 per common share for a period of three years. Additionally, the parties have agreed that the AJS will receive a 5% finder’s fee on all funds raised, loaned, or granted to the Company as a result of the efforts by AJS.
AJS is operated by Mr. Paul Gill who has extensive experience in the public markets in Canada, including serving on the board of various public companies. He has extensive experience in mergers and acquisitions. From November 2003 to October 2006, Mr. Gill was a Director of Norsemont Mining, and directly involved in the dynamic growth of that company. In 2011, Norsemont was bought by HudBay Minerals (CBC News January 10, 2011, news release from Hudson Bay Minerals) for $512 Million and the core property, Constancia, is now an operating 30,000 tonne per day copper-molybdenum mine in Peru. AJS is not a related party to the Company and Mr. Gill owns 90,000 common shares of the Company.
TDM has been engaged to provide marketing solutions such as content creation, distribution, press release distribution, video production and social media presence. Since 2007, TDM Financial has worked with over 400 clients both private and public to attract educated stakeholders. The term of engagement is on a month-to-month basis at a fee of US$7,000 per month.
About Lithium South
The HMN Li Project is at an advanced stage of evaluation, with a Preliminary Economic Assessment completed in August 2019. Lithium South is the 100% owner of the HMN Li Project and expects to expand the known resource with its current drill program. Preliminary results support this expectation. Additional project work including permitting, environmental studies and process test work is ongoing.
The Hombre Muerto North Lithium Project is adjacent to a US$4 billion lithium mine under development by the Korean multinational corporation POSCO, which acquired their holdings from Galaxy Resources Ltd. for US$280 million. Livent Corporation is producing lithium to the south of the Hombre Muerto North Lithium Project and has actively operated there for over twenty-five years.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.