Lithium Energi Exploration Inc (LEXI)

[TradingCharts]

Mar 24 2023 Early warning report

Yeah, Arena is just letting everyone know, we are buying more shares, it’s just a matter of when.

Effective immediately following closing of the Debt Settlement, the Acquiror, through the
Funds, advanced the first drawdown of $7,000,000 to the Issuer under the New Credit
Facility. In connection with closing the New Credit Facility, the Issuer issued to the Funds,
as directed by the Acquiror, an aggregate of 29,166,666 Warrants (collectively with the
Settlement Securities, the “Securities”), with each such Warrant have a three-year term
and an exercise price of $0.24 per Share.
The Transactions were completed concurrently with settlement of additional outstanding
debt by the Issuer, a private placement of the Issuer and the entering into by the Issuer of
a lithium processing agreement pursuant to which the Issuer issued an aggregate of an
additional 44,699,999 Shares and 24,591,021 Warrants, as further described in the
Issuer’s press release dated March 21, 2023.
2.3 State the names of any joint actors.
Not applicable.
Item 3 - Interest in Securities of the Reporting Issuer
3.1 State the designation and number or principal amount of securities acquired or
disposed of that triggered the requirement to file the report and the change in the
acquiror's security holding percentage in the class of securities.
Immediately prior to the completion of the Transactions, the Acquiror owned, controlled or
directed 64,500 Shares representing approximately 0.1% of the issued and outstanding
Shares prior to completion of the Transactions. Pursuant to the Transactions, the Acquiror
acquired direction and control over an additional 30,000,000 Shares and 37,166,666
Warrants. Immediately upon completion of the Transactions, the Acquiror, through the
Funds, exercised control and direction over an aggregate of 30,064,500 Shares and
37,166,666 Warrants, representing approximately 20.1% of the issued and outstanding
Shares on a non-diluted basis, and 32.2% of the issued and outstanding Shares, as
confirmed by the Issuer, calculated on a partially-diluted basis (assuming the exercise of
all Warrants under the control or direction of the Acquiror).
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00032098