Edison Lithium Provides Further Update on Sale of Interest in Resource Ventures S.A.

Rhea-AI Summary

Edison Lithium Corp. has provided an update on the proposed sale of its Argentina subsidiary, Resource Ventures S.A. (ReVe), to Mava Gasoil LLC. The company has granted Mava an extension for the closing date to June 30, 2025. As part of this extension, Mava will pay an advance payment of US$100,000, which will be credited toward the total purchase price of US$3.5 million. Mava has already paid an initial deposit of US$100,000, with remaining payments of US$3.1 million to Edison and two US$100,000 payments to other ReVe shareholders due at closing. The transaction's completion remains subject to TSX Venture Exchange final acceptance and receipt of the remaining purchase price.

Positive

• Total transaction value of US$3.5 million for the sale of ReVe subsidiary
• Already received US$200,000 in payments from Mava Gasoil
• Clear payment structure and timeline established with June 30, 2025 deadline

Negative

• Extension of closing date suggests potential delays in completing the transaction
• Transaction still subject to regulatory approval and remaining payment completion
• Uncertainty around successful closing as significant portion of payment (US$3.3M) still pending

Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to provide an update on the previously announced proposed sale of its Argentina subsidiary, Resource Ventures S.A. ("ReVe"), to Mava Gasoil LLC ("Mava") (the "Proposed Transaction").

To facilitate the completion of the Proposed Transaction, the Company has granted Mava an extension, and the parties now anticipate the completion of the closing on or before June 30, 2025.

In consideration for the extension, Mava has agreed to pay an advance payment of US$100,000, which will be credited against the total purchase price of US$3,500,000 upon closing. The Company previously received an initial deposit of USD$100,000 from Mava and further payments of USD$3,100,000, USD$100,000 and USD$100,000 are payable by Mava to the Company and the two other shareholders of ReVe, respectively, upon closing. As previously disclosed, the proposed transaction contemplates Mava acquiring all of the issued and outstanding shares of ReVe for total consideration of USD$3,500,000.

The completion of the Proposed Transaction remains subject to, among other conditions, TSX Venture Exchange final acceptance, and receipt of the balance of the purchase price.

About Edison Lithium Corp.

Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors:

"Nathan Rotstein"

Nathan Rotstein
Chief Executive Officer and Director

For more information, please contact:
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expected," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law.

Forward-looking statements in this press release relate to, among other things: the proposed sale of ReVe, the anticipated timing and completion of the Proposed Transaction, the receipt of final TSX Venture Exchange approval for the disposition, the closing of the Proposed Transaction, and the receipt of the purchase price. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: receipt of final TSXV approval required for the Proposed Transaction, and receipt of the purchase price. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254396

FAQ

What is the total value of Edison Lithium's (EDDYF) sale of Resource Ventures S.A.?

The total value of the sale is US$3.5 million, with US$3.3 million remaining to be paid at closing.

When is the new closing date for Edison Lithium's sale of ReVe to Mava Gasoil?

The new closing date is set for June 30, 2025.

How much has Mava Gasoil already paid Edison Lithium for the ReVe acquisition?

Mava Gasoil has paid US$200,000 in total, consisting of an initial US$100,000 deposit and an additional US$100,000 advance payment for the extension.

What conditions remain for the completion of Edison Lithium's sale of ReVe?

The transaction requires TSX Venture Exchange final acceptance and receipt of the remaining US$3.3 million in payments.