NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
United Lithium Corp. (CSE: ULTH )(OTC PINK: ULTHF) (FWB: 0UL) (“ULTH” or the “Company”), announces, further to its news release dated March 9, 2021 regarding the best-efforts brokered private placement offering (the “Offering”) of 13,939,394 special warrants of the Company (the “Special Warrants”) completed on March 8, 2021, that each Special Warrant is now expected to entitle the holder thereof to receive, upon the exercise thereof, at no additional consideration, one-and-one-tenth (1.10) of a unit (“Units”), each Unit being comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a “Warrant Share”) at an exercise price of $0.85 per Warrant Share until March 8, 2023. The Company notes that if it does not receive a receipt for its recently-filed short form base shelf prospectus (“Base Shelf Prospectus”) (see news release dated July 2, 2021 on or prior to August 8, 2021, then each Special Warrant will be exercisable for one-and-one-twelfth (1.12) of a Unit; and if the Company does not receive a receipt for the Base Shelf Prospectus on or prior to September 8, 2021, then each Special Warrant will be exercisable for one-and-one-fourteenth (1.14) of a Unit. The same terms apply to the compensation options granted by the Company in connection with the Offering.
All unexercised Special Warrants will automatically be exercised on the date that is the earlier of (i) September 9, 2021, and (ii) the 3rd business day after a receipt is issued for the Base Shelf Prospectus.
On Behalf of The Board of Directors
Chief Executive Officer