Li-Metal Corp. in Trading Halt Pending Standard CSE Change of Business Disclosure Review

Rhea-AI Summary

Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) has entered a trading halt on the Canadian Securities Exchange. The halt is pending review of disclosure related to the company's planned transition from a lithium anode development and production company to an investment company. The company plans to file an updated Listing Statement with the CSE reflecting this business change. Trading will resume once the company receives both shareholder and CSE approval for this transformation.

Positive

• None.

Negative

• Trading halt implemented, suspending market liquidity
• Major business model shift from lithium anode production to investment company, indicating potential abandonment of core operations
• Multiple regulatory approvals required before trading can resume

Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO) ("Li-Metal" or the "Company") has been issued a trading halt by the Canadian Securities Exchange ("CSE") effective today pending the review of the disclosure related to the Company's earlier announced change of business from a lithium anode development and production company to an investment company.

The Company expects to file shortly with the CSE an updated Listing Statement reflecting the proposed new business.

The proposed change of business is subject to shareholder approval and approval of the CSE. The halt in trading in the common shares of the Company is expected to be lifted upon the Company's receipt of approval for the change of business from the Company's shareholders and the CSE.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's strategic plans and the resumption of trading are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the development of the business of the Company will be completed as described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

Li-Metal Investor Contact: Keshav Kochhar
Telephone: +1 647 494 4887
Email: ir@li-metal.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232231

FAQ

Why was Li-Metal Corp (LIMFF) stock halted on December 2, 2024?

Li-Metal Corp's stock was halted pending CSE review of disclosure related to the company's planned change of business from lithium anode development to an investment company.

What business change is Li-Metal Corp (LIMFF) planning to implement?

Li-Metal Corp is planning to transform from a lithium anode development and production company into an investment company, subject to shareholder and CSE approval.

When will Li-Metal Corp (LIMFF) resume trading?

Trading will resume once Li-Metal Corp receives both shareholder approval and CSE approval for its proposed change of business.