Brief: Bearing Lithium Announces Consolidation With Lithium Power International

Lithium Power International

22/06/2022 13:34

June 22 (Reuters) - Bearing Lithium Corp  BRZ.V :
    * BEARING LITHIUM CORP. ANNOUNCES CONSOLIDATION WITH LITHIUM
POWER
INTERNATIONAL LIMITED
    * BEARING LITHIUM CORP - LPI HAS AGREED TO ACQUIRE ALL OF
ISSUED
AND OUTSTANDING COMMON SHARES OF BEARING IN AN ALL SHARE
TRANSACTION
    * BEARING LITHIUM CORP - BEARING SHAREHOLDERS WILL RECEIVE
0.7 OF
AN LPI SHARE FOR EVERY ONE BEARING SHARE HELD
    * BEARING LITHIUM CORP - IN ADDITION BEARING SHAREHOLDERS
WILL
RECEIVE A CASH DISTRIBUTION AT C$0.02 PER SHARE
    * BEARING LITHIUM CORP -  MSB SPA ALSO ENTERED MERGER
AGREEMENT
WITH LPI WHEREBY MSB SPA WILL RECEIVE 161.6 MILLION LPI SHARES
PURSUANT TO CONSOLIDATION
    * BEARING LITHIUM CORP - AS A RESULT OF CONSOLIDATION,
BEARING
SHAREHOLDERS WILL HAVE A 15.6% INTEREST IN LPI

Source text for Eikon:  ID:nGNX2CGwHd 
Further company coverage:  BRZ.V 

 ((Reuters.Briefs@thomsonreuters.com;))