Bearing Lithium Corp (BRZ)

[climber18]

Isn't that funny:

In light of the extremely high workload of the LPI Board ....

arising from the long-negotiated SBD Transaction
and Bearing Transaction, the proposed spin-off of its Western Australian assets, the recent capital raising
as well as progressing the Project towards a development commitment, the Board proposes to award
Share Appreciation Rights to its executive directors and options to some of its non-executive directors.
With LPI's small executive management team, this required very high director workload (carried out
across multiple time zones) has for many months been far beyond what is usually expected of directors
of a listed mining development company and, accordingly, the LPI Board considers that these awards are
justified in the context of that sustained additional workload.
The LPI Board notes that the terms and conditions of these awards were determined before the recent
significant appreciation in the Company's share price and should be considered in that light.
The LPI Board (other than those directors in respect of any Resolution relating to them) recommends that
all shareholders VOTE IN FAVOUR of Resolutions 2 – 6.
In addition, Resolution 7 seeks shareholder approval to refresh the Company's placement capacity arising
from the recent grant of Share Appreciation Rights to senior executives of MSB. Resolution 8 seeks
shareholder approval to preserve the Company's placement capacity for the grant of adviser options to
Treadstone Resource Partners who are advising the Company on the SBD Transaction and Bearing
Transaction. The LPI Board unanimously recommends that all LPI shareholders VOTE IN FAVOUR of
Resolutions 7 and 8.

Ann: Notice of Extraordinary General Meeting/Proxy Form