BEARING PROVIDES CORPORATE UPDATE
01 April 2020 - 1:57AM
Bearing Lithium Corp. (“
Bearing” or the
“
Company”) (TSX Venture:BRZ) (OTCQB:BLILF)
(FRANKFURT:B6K2) is pleased to announce that, effective today, Ryan
Smith has been appointed as Chief Financial Officer and Ray
Baterina has been appointed as Corporate Secretary as the Company.
Ryan Smith brings more than 12 years of
financial experience. Most recently, Mr. Smith served as a senior
account manager for First Calgary Financial, where he managed a
$250 million commercial real estate portfolio. During his
eight-year banking tenure, Mr. Smith held senior roles in retail,
wealth management and small business divisions. An NCAA collegiate
athlete, Mr. Smith attended Montana State University on a tennis
scholarship before graduating summa cum laude from Keiser
University with a Bachelor of Business Administration with a
concentration in finance.
Ray Baterina has over 20 years of experience in
administrative and corporate services ranging from provincial
government to publicly traded companies and private companies.
Starting a career in Financial Services with the Ministry of
Transportation of BC, Mr. Baterina was responsible for external
agreements in accounts receivable, financial analysis and
management of budgets. He was then instrumental in
coordinating and establishing the head office of GBS Gold
International Inc., a publicly traded junior mining and exploration
company. As the Assistant Controller with Pacific Group of
Companies (NorLand Limited), Mr. Baterina was able to take his
experience managing treasury and financial resources into his
current position as the managing partner and financial controller
of P&N Vero LLP, a privately owned wealth management
company.
The Company also announces that it has granted
2,320,000 incentive stock options (“Stock
Options”) to certain directors and officers. Each
Stock Option is exercisable to acquire one common share of the
Company at a price of $0.11 for a five year period. In addition,
further to its new release dated February 6, 2020, the Company
confirms it has now issued at aggregate of 1,000,000 common shares
to Leede Jones Gable Inc. (“Leede”) as payment of
the advisory fee due to Leede under the Advisory Agreement entered
into between the Company and Leede.
Gil Playford, Chairman and CEO, commented: “As a
result of the over-subscribed private placement financing announced
on Feb 4, 2020 for total gross proceeds of $1,024,440, the Company
paid the US$613,887 December 2019 cash call by the Maricunga Joint
Venture and will pay US$158,454 on April 1, 2020 to maintain its 18
% interest in the Maricunga Lithium Brine Project in Chile. The
Company has put into place stringent spending controls to provide
time flexibility during the Covid-19 outbreak.”
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused
mineral exploration and development company. Its primary asset is
an 18% interest in the Maricunga Lithium Brine Project in Chile.
The Maricunga Project represents one of the highest-grade lithium
brine salars globally and the only pre-production project in Chile.
Over US$50 million has been invested in the Maricunga Project to
date and all expenditures through to the delivery of a Definitive
Feasibility Study have been fully-funded by the earn-in
joint-venture partner.
ON BEHALF OF THE BOARD Signed
"Gil Playford” Gil Playford, Interim CEO and Board Chair
gplayford@bearinglithium.com
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 release. Cautionary Statements
Regarding Forward Looking Information
This press release includes certain
"forward-looking information” and "forward-looking statements”
(collectively "forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but
not always, identified by words such as "expects”, "anticipates”,
"believes”, "intends”, "estimates”, "potential”, "possible”, and
similar expressions, or statements that events, conditions, or
results "will”, "may”, "could”, or "should” occur or be achieved..
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 on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the Company, 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. 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.
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