SUDBURY, ON, Aug. 26, 2026 /CNW/ -- Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQB: LITOF) ("Frontier Lithium" or the "Company") has reported financial results for the three months ended June 30, 2026. The unaudited condensed consolidated interim financial statements and related management's discussion and analysis have been filed on SEDAR+ and can be viewed under the Company's profile at www.sedarplus.ca, as well as on the Company's website at www.frontierlithium.com.
First Quarter Financial Highlights
As at June 30, 2026, the Company had cash and cash equivalents of approximately $20.9 million. On April 30, 2026, the Company completed a $15.0 million bought deal offering, resulting in net proceeds of approximately $13.6 million. These funds provide a strong financial position to support corporate and administrative expenses and advance the Company's planned business objectives.
Recent Highlights
- On August 6, 2026, Frontier Lithium Advanced Materials Inc. entered into a contribution agreement with Natural Resources Canada under the Global Partnerships Initiative, providing for a non-repayable contribution of up to $2.3 million, subject to the agreement's terms and conditions.
- Funding under the Global Partnerships Initiative is intended to support technical and economic feasibility work to optimize lithium refining flowsheets and assess commercialization pathways for secondary materials generated during the lithium conversion process, with a focus on evaluating sodium sulphate for specialty fertilizer production.
- On August 13, 2026, the Company entered into an amendment agreement relating to its unsecured convertible loan for $3.35 million. The proposed amendments include extending the maturity date to February 25, 2028 and changing the conversion price to $0.455 per common share. All other terms and conditions of the convertible loan remain unchanged. The amendments remain subject to applicable regulatory authorizations, including TSX Venture Exchange approval.
- The Company continued environmental baseline studies to support project permitting.
"Supported by a strong treasury and important government and industry partnerships, Frontier Lithium continues to advance the PAK Lithium Project through key development milestones. Our focus remains on permitting, infrastructure, technical studies, and building the foundation for a fully integrated lithium business that can help meet North America's growing demand for critical minerals and battery materials," said Trevor Walker, President and Chief Executive Officer of Frontier Lithium.
ON BEHALF OF THE BOARD OF DIRECTORS
Trevor Walker,
Chief Executive Office
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 North America's highest-grade known lithium resource. Operated as a joint venture between Frontier Lithium (92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill and a downstream conversion facility in Thunder Bay, Ontario 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 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 CA $932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%.These results were disclosed in a press release dated May 28, 2025, and the accompanying technical report was filed on July 9, 2025 on SEDAR+ (www.sedarplus.ca).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact constitute forward-looking statements. Forward looking statements contained in this news release may include, but are not limited to, statements with respect to: capital requirements and private and/or public financing initiatives, estimated mineral resources, estimated capital costs to construct mine facilities, estimated operating costs, the duration of payback periods, estimated amounts of future production, estimated cash flows, net present value, the FS and statements that address future production, resource and reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects, including but not limited to capital and operating costs, timelines, internal rates of return, and project development milestones.
Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause actual results to differ materially from those in forward looking statements include: market prices for commodities, increases in capital or operating costs, construction risks, availability of infrastructure including roads, regulatory and permitting risks, exploitation and exploration successes, continued availability of capital and financing, financing costs, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, please review the Company's public filings available at www.sedarplus.ca.
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.
SOURCE Frontier Lithium Inc.
Company Contact Information: Bora Ugurgel, Senior Manager, Investor Relations, 2614 Belisle Drive Val Caron, Greater Sudbury, Ontario, P3N 1B3 CANADA, T. +001 705.897.7622, F. +001 705.897.7618
