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Osiris One Metals Ltd. reports news centered on its metals exploration portfolio, corporate restructuring, and capital actions. The company, formerly Lithium Ion Energy Ltd., has disclosed the name change to Osiris One Metals, the continuation of its corporate jurisdiction to British Columbia, and governance changes connected with its board and management structure.
Company updates also cover the Urgakh Naran Lithium Brine Project in Mongolia, including project-status reviews and joint venture developments, as well as non-brokered private placements, debt settlement activity, shareholder meeting results, and working-capital needs tied to maintaining its exploration assets.
Lithium ION Energy (TSXV: IONGF) announced a corporate restructuring and a non-brokered private placement of up to 15,000,000 Units at $0.04 per Unit to raise up to $600,000, with a firm commitment of $400,000 from director Bataa Tumur-Ochir. Each Unit includes one common share and one warrant exercisable at $0.05 for 24 months. Proceeds will fund the exploration portfolio and general working capital. Securities will carry a statutory hold period of 4 months plus 1 day and closing is subject to TSXV and other regulatory approvals. The company also announced board resignations and named Sreenath Didugu as Interim CEO.
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) has completed two significant transactions: a debt settlement and a strategic joint venture agreement for its Urgakh Naran project in Mongolia. The company settled $120,000 in debt by issuing 3 million common shares at $0.04 per share to non-arm's length creditors.
In the joint venture with SureFQ Ltd., ION will maintain a 20% free carried interest through commercial production, receiving USD$5.5 million in cash over 4.5 years and USD$8 million in development expenditures over 4 years. The transaction requires shareholder approval at the August 26, 2025 Annual General Meeting.
Lithium ION Energy (TSXV: ION) has entered into a binding Joint Venture Agreement with SureFQ for the Urgakh Naran lithium project in Mongolia. Key terms include:
- ION maintains 20% free carried interest through commercial production
- USD$5.5M cash payment to ION over 4.5 years
- USD$8.0M in development expenditure over 4 years
- 2.5% NSR retained by ION in perpetuity
Additionally, ION announced a debt settlement of $120,000 through the issuance of 3,000,000 common shares at $0.04 per share. The company has also terminated its previously announced business combination with United Rare Earths.
Lithium ION Energy (TSXV: ION) has entered into an LOI Agreement for a business combination with United Rare Earths (UnitedRE), a US-based rare earths recycling and refining company. UnitedRE has advanced discussions with a federal agency for non-recourse, non-dilutive funding and holds an MOU with a national laboratory. To support this development, ION Energy announced a non-brokered private placement of convertible debentures for US$2 million at 8% interest, convertible to shares at $0.10 per share. The debentures will mature in 24 months, with proceeds used for the business combination, technology development, and working capital.
Lithium ION Energy has completed debt settlement agreements with both arm's length and non-arm's length creditors.
The company settled a total debt of $98,419 by issuing 393,675 common shares at a price of $0.25 per share.
The shares are subject to a hold period of four months and one day, as per applicable securities laws and TSXV policies.
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