Iber American Lithium Corp. announced that it intends to conduct a brokered financing for aggregate gross proceeds of a minimum of C$7,000,000. The Offering will be marketed, on a "best efforts" private placement basis, by Cormark Securities Inc. as sole agent.

The Offering is being conducted in connection with the proposed business combination between IberAmerican and Strategic Minerals Europe Corp., as previously announced and described in news releases dated March 20, 2024, April 26, 2024 and May 27, 2024, that is expected to be completed by way of a three-cornered amalgamation under the laws of Ontario, whereby IberAmerican Resources Inc. (a wholly-owned subsidiary of IberAmerican, "Subco") and Strategic Minerals will amalgamate, and the resulting amalgamated entity will survive as a wholly-owned subsidiary of IberAmerican. Pursuant to the Offering, subscription receipts of SubCo (each, a "Subscription Receipt") will be offered for sale at a price of C$0.18 per Subscription Receipt (the "Offering Price"). Upon the satisfaction of certain escrow release conditions customary for this type of transaction (the "Escrow Release Conditions"), each Subscription Receipt will, pursuant to its terms and pursuant to the Proposed Transaction, result in the holder thereof being issued, without payment of additional consideration or further action on the part of the holder thereof, one unit consisting of one common share in the capital of Subco (a "Subco Share") and one common share purchase warrant. Each Subco Warrant shall entitle the holder thereof to acquire, subject to adjustment, one Subco Share at an exercise price of CAD 0.27 per share for a period of 3 years from the date on which the Escrow Release Conditions are satisfied.

In connection with the completion of the Proposed Transaction, each Subco Share shall be exchanged for one ?common share in the capital of IberAmerican and each Subco Warrant shall be exchanged for one warrant of IberAmerican, exercisable for one IberAmerican Share, which exchanges will be made subject to and in compliance with applicable securities laws. The Offering is anticipated to close on or about June 25, 2024. The gross proceeds of the Offering (less 50% of the Agency Fee (as defined below) and all of the Agent's expenses incurred up to the Closing Date) (such net amount, the "Subscription Proceeds") will be held in escrow by an escrow agent (the "Subscription Receipt Agent") acceptable to IberAmerican, Subco and the Agent.

If (i) the Escrow Release Conditions have not been satisfied prior to 5:00 p.m. (Toronto time) on July 30, 2024 (the "Escrow Release Deadline"), (ii) the Proposed Transaction is terminated at any earlier time, or (iii) Subco or IberAmerican advises the Agent that it does not intend to satisfy the Escrow Release Conditions, the Subscription Receipt Agent shall return to the holders of the Subscription Receipts an amount equal to the aggregate Offering Price of the Subscription Receipts held by each such holder and their pro rata portion of interest and other income earned thereon and the Subscription Receipts shall be cancelled. The net proceeds from the Offering will be used to initiate production activities at the Penouta Project in accordance with the Section B permit and for general working capital purposes. The Subscription Receipts sold under the Offering will be subject to an indefinite hold period under applicable securities laws.

The IberAmerican Shares and the IberAmerican Warrants issued on conversion of the Subco Subscription Receipts in connection with the Proposed Transaction will not be subject to a hold period in the Canadian qualifying jurisdictions.