Lithium Energi Exploration Inc (LEXI)

[TradingCharts]

Option Grant

LEXI's board of directors has granted certain directors and officers of the Company options to purchase up to 4,000,000 common shares with a term of three years and an exercise price equal to $0.20 per share.

Early Warning Matters

Arena.
Arena acquired 30,000,000 common shares of LEXI and 37,166,666 share purchase warrants pursuant to the Transactions. After the Closing of the Transactions, Arena now beneficially owns or controls 30,064,500 common shares representing approximately 20.1% of LEXI's issued and outstanding common shares on a non-diluted basis and 37% on a partially diluted basis, assuming the exercise of all warrants held by Arena.

Prior to the Transactions, Arena beneficially owned or controlled 64,500 common shares of LEXI.

The common shares were acquired by Arena for investment purposes. Arena has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of Arena's early warning report will appear on the Company's profile on SEDAR.