VANCOUVER, BC, Nov. 7, 2023 /CNW/ - LiTHOS Energy Ltd. ("LiTHOS" or the "Company") (CSE: LITS) is pleased to announce its engagement of Oak Hill Financial Inc. ("Oak Hill Financial") to provide investor relations and capital markets advisory services.
LiTHOS has selected Oak Hill Financial to enhance its market presence, targeting investment community channels, and identifying potential and existing investors, as the Company continues to execute its business plan.
"We are excited to enhance our capital markets initiatives with the engagement of Oak Hill Financial," said Scott Taylor, Chief Executive Officer. "With Oak Hill Financial's expertise, we aim to expand our shareholder base and amplify our reach through their extensive network of investment advisors and institutional fund managers."
The engagement agreement (the "Agreement") with Oak Hill Financial is set for an initial four-month period, effective from November 7, 2023, with provisions for automatic renewals unless a written notice is provided by LiTHOS or Oak Hill Financial within five business days of a monthly renewal. As part of the Agreement, Oak Hill Financial will receive $12,000 per month plus expenses pre-approved by the Company during the term of the Agreement. Oak Hill Financial will work to generate investment interest from the registered brokerage channels, registered family offices, investment funds and registered high net worth individuals. Oak Hill Financial will use its own sales force to effect such outreach and the promotional activity will be by verbal communication, by email and occasionally, through LinkedIn. Oak Hill Financial's contact information is as follows: 161 Bay Street, Sute 2460, Toronto, ON M5J 2T3, attention: Anil Singh, email: asingh@oakhillfinancial.ca, telephone: 647.479.5803.
In addition, Oak Hill Financial will receive 300,000 stock options (each, an "Option") of LiTHOS, at an exercise price of $0.56. The Options shall vest on a quarterly basis commencing on the date that is three months from the date of execution of the Agreement. If the Agreement is terminated for any reason, Oak Hill Financial shall have 60 days to exercise all vested Options, after which point they are cancelled. The Options shall have an 18-month term. Oak Hill Financial does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
About LiTHOS Energy Ltd.
The Company's mission is to deliver sustainable lithium production without the use of evaporation ponds. Our wholly owned subsidiary Aqueous is a US Department of Energy FAST TRACK grant Winner and a Colorado Advanced Industries grant winner. AcQUA™ is our patent-pending electro-pressure membrane process and method for recovery and concentration of lithium chloride from aqueous sources. This process spans the pre-treatment of raw brines through the DLE concentration of lithium chloride. We have a fully commissioned brine processing facility in Denver, Colorado. The Company is currently focused on processing continental brines from several strategic resource owners located in the United States, Argentina and Chile.
About Oak Hill Financial Inc.
Oak Hill Financial is a leading Canadian investor marketing and distribution and corporate advisory firm, focused on IIROC retail brokerage networks, servicing both asset managers and public companies. Oak Hill Financial's experienced team of former asset management wholesalers, research analysts and capital market professionals specialize in building credibility for their clients to a network of over 10,000 Canadian IIROC retail brokers and over 300 North American funds.
ON BEHALF OF THE BOARD
Scott Taylor - CEO
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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SOURCE Lithos Energy Ltd.
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