Replies to post #95 on Edison Lithium Corp (EDDY)

[Everything-EV]

Nathan Rotstein, Chief Executive Officer of Edison, comments, "We are always looking at opportunities to unlock shareholder value and spinning out the cobalt asset makes perfect sense. Cobalt is an essential mineral that has strong demand in rechargeable batteries for electric vehicles, mobile phones, and other electronic devices. The new entity will present a compelling opportunity for further investment in the heated battery metals space."

Upon completion of the Spin-Out, SpinCo intends to undertake a private placement of up to 15,000,000 units (the "Units") at $0.10 per Unit for gross proceeds of up to $1,500,000 (the "Private Placement"). Each Unit will consist of one SpinCo Share and one warrant (a "Warrant"), each Warrant will be exercisable into one SpinCo Share at an exercise price of $0.12 per SpinCo Share, for a period of two years from the date of issuance. The Private Placement is expected to close concurrently with listing on the Exchange. The SpinCo Shares and Warrants will be subject to a four-month statutory hold period expiring four months and one day from the closing date of the Private Placement.