SPOD Lithium Announces Sale of its North Nipigon Lithium Project in Ontario and Change in Management

Rhea-AI Summary

SPOD Lithium (OTCQB: SPODF) sold its 100% interest in the North Nipigon lithium exploration property in Ontario for $30,000 cash under a purchase and sale agreement dated December 5, 2025.

The company said the parties were arm's-length and no finder’s fee was payable, and framed the sale as part of a strategy to focus on its flagship assets.

Effective December 19, 2025, Mathieu Couillard resigned as director, CEO and president; Veronique Laberge was appointed interim CEO and director while the Board searches for a permanent CEO.

Positive

• Sale completed of North Nipigon for $30,000 cash
• Management continuity via appointment of interim CEO Veronique Laberge effective Dec 19, 2025
• Strategic focus on flagship assets stated by the company

Negative

• CEO resignation of Mathieu Couillard effective Dec 19, 2025
• Minimal proceeds received from property sale ($30,000)

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - SPOD LITHIUM CORP. (CSE: SPOD) (OTCQB: SPODF) (the "Company" or "SPOD") announces that it has entered into a property purchase and sale agreement dated December 5, 2025 (the "Agreement") with Imagine Lithium Inc. (TSXV: ILI) (the "Purchaser") respecting the North Nipigon lithium exploration property in Ontario (the "Property").

Under the Agreement, SPOD sold its 100% interest in and to the Property for total consideration of $30,000, payable in cash.

Both SPOD and the Purchaser were dealing at arm's length at the time the transaction was agreed, and no finder's fee or commission are payable in connection with the transaction. This transaction aligns with the Company's objective to focus on its flagship assets.

Moreover, the Corporation further announces that Mathieu Couillard has resigned as a director, Chief Executive Officer and President of the Company, effective December 19, 2025. The Company thanks Mr. Couillard for his dedication and service over the period of his services and wishes him the best in his future endeavors.

With the resignation of Mr. Couillard, Ms. Veronique Laberge has been appointed as interim Chief Executive Officer and director of the Company. The Board will begin a search for a permanent Chief Executive Officer that will help take the Company into its next phase.

About Spod Lithium Corp.
Spod Lithium Corp. is a leading exploration and development company focused on unlocking the vast potential of lithium resources. With a strategic approach to resource management and a commitment to sustainable practices, SPOD is dedicated to driving innovation and delivering value for its stakeholders. Founded in 2020, its primary lithium properties are strategically located in Quebec and Ontario, Canada, regions renowned for their rich deposits of these valuable resources. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company through its website at www.spodlithiumcorp.com.

On Behalf of the Board of Directors,

Veronique Laberge
CFO & Interim CEO
+1 (514) 831-8626
veronique.laberge@SPODlithiumcorp.com

Stay connected with SPOD

Website: www.spodlithiumcorp.com
Linkedin: www.linkedin.com/company/spod-lithium
X (formerly Twitter): www.x.com/spodlithium

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking wording such as "may," "expect," "estimate," "anticipate," "intend," "believe" and "continue," or the negative thereof or similar variations. Forward-looking statements in this news release include, without limitation, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, and the ability to identify a permanent Chief Executive Officer and future directors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, general economic, market or business conditions, and the risk that required approvals or closing conditions will not be obtained or satisfied in connection with the Offering. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release, and, except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278980

FAQ

What did SPOD Lithium (SPODF) sell on December 5, 2025?

SPOD sold its 100% interest in the North Nipigon lithium exploration property for $30,000 cash.

When did Mathieu Couillard resign as CEO of SPOD Lithium (SPODF)?

Mathieu Couillard resigned as director, CEO and president effective December 19, 2025.

Who is the interim CEO of SPOD Lithium (SPODF) after the December 2025 change?

Ms. Veronique Laberge was appointed interim CEO and director effective December 19, 2025.

How much cash did SPOD Lithium (SPODF) receive for North Nipigon?

The company received $30,000 in cash as total consideration.

Did SPOD Lithium (SPODF) pay a finder's fee for the North Nipigon sale?

No; the company stated no finder’s fee or commission is payable in connection with the transaction.

What is SPOD Lithium's stated reason for selling the North Nipigon property?

The company said the sale aligns with its objective to focus on flagship assets.