Not for distribution to U.S. news wire services or dissemination in the United States.
Each Unit will be comprised of one common share of the Company (a "Common Share") and half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price of C$1.00 per Warrant Share for a period of two years from the closing of the Offering.
The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. Securities sold on exercise of the over-allotment option may be comprised of additional Units, Common Shares, Warrants or any combination thereof.
The net proceeds of the Offering will be used for advancing the PAK Lithium Project. These funds will support the completion of an updated mine and mill technical report, facilitate activities related to government-funded or cost-shared infrastructure initiatives, permitting, advancement of Lithium Conversion Study and cover general administrative as well as corporate expenses.
The Units will be offered by way of a short form prospectus in all of the provinces of Canada (except Quebec) and may also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”); and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.
The securities offered have not been registered under the U.S. Securities Act, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS
Trevor Walker, President & CEO
About Frontier Lithium
Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle, and energy storage markets in North America. The Company's PAK Lithium Project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.
About the PAK Lithium Project
The PAK Lithium Project is a fully integrated critical minerals initiative in Ontario, developing a high-grade, large scale lithium resource. Operated as a joint venture between Frontier (92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill, north of Red Lake, Ontario and a downstream lithium conversion facility in Thunder Bay, Ontario, which are both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 Mine and Mill Feasibility Study (FS), prepared by DRA Global Limited and entitled National Instrument 43-101 Technical Report FS PAK Lithium Project, Mine and Mill, outlines a 31-year Project life with an after-tax net present value of $932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%.These results have been disclosed in the Company's press release dated May 28, 2025, and the accompanying technical report was filed on SEDAR+ (www.sedarplus.ca) on July 9, 2025.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
