ION Announces Results of ASGM and Update on Joint Venture on Urgakh Naran Project
Lithium ION Energy (TSXV: ION) has announced two significant developments: the results of its Annual General and Special Meeting and an update on its joint venture agreement with SureFQ Ltd for the Urgakh Naran Project in Mongolia.
At the Meeting, shareholders approved all matters, including the reappointment of board members and the transformational joint venture agreement. Under the JV terms, ION will maintain a 20% free carried interest in the Urgakh Naran Project through commercial production in exchange for USD$5.5 million in cash payments over 4.5 years and USD$8 million in development expenditures over 4 years. The TSX-V has granted conditional acceptance of the agreement, pending final approval.
Lithium ION Energy (TSXV: ION) ha comunicato due notizie importanti: i risultati della sua Assemblea Generale Annuale e Straordinaria e un aggiornamento sull'accordo di joint venture con SureFQ Ltd relativo al progetto Urgakh Naran in Mongolia.
All'Assemblea gli azionisti hanno approvato tutte le risoluzioni, inclusa la riconferma dei membri del consiglio e l'accordo di joint venture che trasforma la proprietà. Secondo i termini del JV, ION conserverà un interesse gratuito del 20% nel progetto Urgakh Naran fino alla produzione commerciale, in cambio di 5,5 milioni di USD in pagamenti in contanti distribuiti su 4,5 anni e di 8 milioni di USD in spese di sviluppo da sostenere in 4 anni. La TSX-V ha concesso l'accettazione condizionata dell'accordo, in attesa dell'approvazione finale.
Lithium ION Energy (TSXV: ION) anunció dos novedades relevantes: los resultados de su Junta General y Extraordinaria anual y una actualización del acuerdo de joint venture con SureFQ Ltd para el proyecto Urgakh Naran en Mongolia.
En la Junta, los accionistas aprobaron todas las cuestiones, incluida la reelección de los miembros del consejo y el acuerdo de joint venture transformador. Según los términos del JV, ION mantendrá un interés gratuito del 20% en el proyecto Urgakh Naran hasta la producción comercial a cambio de USD 5,5 millones en pagos en efectivo durante 4,5 años y USD 8 millones en gastos de desarrollo en 4 años. La TSX‑V ha otorgado una aceptación condicional del acuerdo, a la espera de la aprobación final.
Lithium ION Energy (TSXV: ION)는 두 가지 중요한 소식을 발표했습니다: 연례·임시 주주총회 결과와 몽골 Urgakh Naran 프로젝트에 대한 SureFQ Ltd와의 합작 투자(JV) 계약 업데이트입니다.
총회에서 주주들은 이사 재선임과 구조적 변화를 가져오는 JV 계약을 포함한 모든 안건을 승인했습니다. JV 조건에 따라 ION은 상업 생산 시점까지 Urgakh Naran 프로젝트에 대해 20%의 무상 지분을 유지하며, 그 대가로 미화 550만 달러의 현금 지급을 4.5년에 걸쳐 받고 미화 800만 달러의 개발비를 4년 동안 지출합니다. TSX‑V는 최종 승인 대기 조건으로 해당 계약에 대해 조건부 수락을 부여했습니다.
Lithium ION Energy (TSXV: ION) a annoncé deux développements importants : les résultats de son assemblée générale annuelle et extraordinaire et une mise à jour de son accord de coentreprise avec SureFQ Ltd pour le projet Urgakh Naran en Mongolie.
Lors de l'assemblée, les actionnaires ont approuvé toutes les résolutions, y compris la réélection des membres du conseil et l'accord de coentreprise transformateur. Selon les termes de la JV, ION conservera une participation gratuite de 20% dans le projet Urgakh Naran jusqu'à la production commerciale, en contrepartie de 5,5 M$ US de paiements en espèces sur 4,5 ans et de 8 M$ US de dépenses de développement sur 4 ans. La TSX‑V a donné une acceptation conditionnelle de l'accord, en attente de l'approbation finale.
Lithium ION Energy (TSXV: ION) hat zwei bedeutende Entwicklungen bekannt gegeben: die Ergebnisse seiner jährlichen und außerordentlichen Hauptversammlung sowie ein Update zum Joint-Venture-Vertrag mit SureFQ Ltd für das Urgakh Naran Projekt in der Mongolei.
Auf der Versammlung stimmten die Aktionäre allen Punkten zu, einschließlich der Wiederbestellung der Vorstandsmitglieder und des richtungsweisenden Joint-Venture-Vertrags. Laut JV-Bedingungen wird ION bis zur kommerziellen Produktion ein 20%iges Free-Carried-Interesse am Urgakh Naran Projekt behalten, im Gegenzug für 5,5 Mio. USD an Barzahlungen über 4,5 Jahre und 8 Mio. USD an Entwicklungsaufwendungen über 4 Jahre. Die TSX‑V hat dem Vertrag unter Vorbehalt zugestimmt und erwartet die endgültige Genehmigung.
- Non-dilutive joint venture agreement secures path to revenue
- USD$5.5 million cash consideration over 4.5 years
- USD$8 million in development expenditures funded by partner over 4 years
- 20% free carried interest through commercial production
- TSX-V conditional acceptance received for the JV agreement
- Reduction of project ownership stake to 20%
Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - Lithium ION Energy Limited (TSXV: ION) (FSE: Z4A) ("ION" or the "Company") is pleased to announce the results of its Annual General and Special Meeting ("Meeting") held Tuesday, August 26, 2025. Details of the matters approved at the Meeting are set out in the Company's Management Information Circular dated July 23, 2025, which can be found on the Company's website at www.ionenergy.ca and on SEDAR+ at www.sedarplus.ca under the Company's profile.
At the Meeting, the Company received majority approval to all matters brought before shareholders, including the reappointment of Messrs. Haji, Waraich, Wood, Tumur-Ochir, Gallucci, and Khishigsuren to the Company's board of directors ("Board") for the ensuing year.
"We are very pleased that our shareholders have approved this transformational, non-dilutive joint venture for the company that ensures a path to revenue without dilution," said Ali Haji, CEO & Director.
Shareholders also passed a special resolution approving the Company's entrance into a Joint Venture Agreement with SureFQ Ltd ("SureFQ") for the advancement of the Urgakh Naran Project in Mongolia. The Company entered into a binding Joint Venture Agreement with SureFQ effective March 26, 2025, under which ION will retain a
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: Z4A) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION is focused on advancing the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About SureFQ Ltd
SureFQ is dedicated to advancing innovative and sustainable solutions in the lithium and energy sectors. As a strategic investment and development firm, SureFQ focuses on fostering high-potential projects that drive the global energy transition. Leveraging SureFQ's extensive industry expertise and technological capabilities, SureFQ plays a pivotal role in accelerating lithium resource development and deploying cutting-edge extraction technologies. Through its partnerships and investments, SureFQ is committed to ensuring a stable and efficient supply of critical materials for the clean energy revolution.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Hao Qu, quhao@litioconstante.com
Cautionary Note Regarding Forward-Looking Information
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 news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed joint venture with SureFQ and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264232
FAQ
What are the key terms of ION Energy's joint venture agreement with SureFQ for the Urgakh Naran Project?
How much cash will ION Energy (TSXV: ION) receive from the SureFQ joint venture?
What percentage stake will ION Energy retain in the Urgakh Naran Project?
Has the TSX-V approved ION Energy's joint venture with SureFQ?
What development expenditure commitments did SureFQ make for the Urgakh Naran Project?
