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Li3 Announces Effectiveness of F-4 Registration Statement

Li3 Announces Effectiveness Of F-4 Registration Statement

Santiago, Chile--(Newsfile Corp. - September 14, 2017) - Li3 Energy, Inc. (OTCQB: LIEG) ("Li3") is pleased to announce that the Registration Statement on F-4 (the "F-4") filed with the United States Securities and Exchange Commission (the "SEC") by Bearing Lithium Corp. ("Bearing") has been declared effective by the SEC, as required under the previously announced agreement and plan of merger (the "Agreement") with Bearing. The Registration Statement was filed with the SEC for the purpose of registering the 16 million common shares of Bearing issuable to the Li3 shareholders on closing of the Merger Agreement, and could be considered the largest step in completing the acquisition of Li3 by Bearing.

On September 12, 2017, the SEC declared the amended F-4 Registration Statement effective. This represents the removal of the last regulatory hurdle towards the closing of the transaction, noting the TSX Venture Exchange (the "TSX-V") had previously issued conditional approval for the transaction. Li3 has set a date for the shareholder vote on the acquisition by Bearing on September 28th, 2017. Note that Li3 shareholders representing over 60% of the outstanding common shares have entered into lock-up agreements to vote in favor of the transaction. Subsequent to affirmative shareholder vote, the merger/acquisition is slated to close immediately following the Li3 shareholder meeting.

Jeremy Poirier, President and CEO of Bearing, commented "The clearance by the SEC puts us one step closer to the closing of our transaction with Li3. I thank the SEC and TSX-V for working constructively with both Bearing and Li3 to achieving this goal. I would also like to thank Bearing shareholders for their support and patience through this process, and all the Li3 shareholders who signed lock-up agreements. We continue to be excited about the progress of the Maricunga project under the leadership of the MSB team."

"At Li3, we always knew the transition to the TSX was a long process. But we continue to firmly believe it is the only way to create value for our shareholders by exposing them to a market which truly recognizes the potential of lithium. As the project continues to move forward, we look forward to the milestones that will properly represent this value creation for the benefit of both Bearing and Li3 shareholders" commented Patrick Cussen, Chairman of Li3.

About Li3 Energy, Inc.

Li3 Energy, Inc. is an exploration company in the lithium and potassium mining sector, based in South America. We aim to acquire and develop a unique portfolio of lithium and potassium brine projects in the Americas. We are focused on further exploring, developing and commercializing our interest in the Maricunga Project, located in the northeast section of the Salar de Maricunga in Region III of Atacama in northern Chile, as well as increasing our portfolio of projects. Our goals are to: a) advance our portfolio of projects to the feasibility study stage; b) support the global implementation of clean and green energy initiatives; c) meet growing lithium market demands; and d) become a mid-tier, low cost secondary supplier of lithium, potassium, and other strategic minerals, serving global clients in the energy, fertilizer and specialty chemical industries. Additional information regarding the Company can be found in our recent filings with the Securities and Exchange Commission as well as the information maintained on our website

Luis Saenz — Chief Executive Officer of Li3 Energy — [email protected]

Cautionary Statement on Forward-looking Information

Certain statements in this news release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking statements") that may not be based on historical fact, but instead relate to future events, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements, including statements regarding: the ability of Bearing and Li3 to consummate the transactions contemplated by the Agreement; the anticipated benefits of the transactions contemplated by the Agreement, including the Merger; and statements regarding the operation of each of Li3 and Bearing's businesses, including the interest in mineral properties to be acquired by virtue of the Merger.

Such forward-looking statements are based on a number of assumptions, including assumptions regarding the ability of the parties to satisfy, in a timely manner, the conditions contained in the Agreement; the successful development and/or commercialization of Li3 and Bearing's respective products, including the receipt of necessary regulatory approvals; general economic conditions; that the parties' respective businesses are able to operate as anticipated without interruptions; competitive conditions; and changes in laws, rules and regulations applicable to Li3 and Bearing. Although management of Li3 and Bearing believe that the assumptions made and expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement contained herein will prove to be accurate. Actual results and developments may differ materially from those expressed or implied by the forward-looking statements contained herein and even if such actual results and developments are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects. Factors which could cause actual results to differ materially from current expectations include: non-completion of the transactions contemplated by the Agreement, including due to the parties failing to receive the necessary shareholder, stock exchange and regulatory approvals or the inability of the parties to satisfy in a timely manner and on satisfactory terms the necessary conditions; the failure to successfully develop or commercialize the parties' respective products; adverse changes in general economic conditions or applicable laws, rules and regulations; and other factors detailed from time to time in each of Li3 and Bearing's periodic disclosure. Given these risks, uncertainties and factors, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on the parties' current expectations and neither party undertakes an obligation to revise or update such forward looking statements and information to reflect subsequent events or circumstances, except as required by law.

This post first appeared on Newsfile Corp News Releases, please read the originial post: here

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Li3 Announces Effectiveness of F-4 Registration Statement


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