LBNK LithiumBank Resources Corp

LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) a lithium development company focused on lithium-enriched brine projects in Western Canada, announces the voting results from its Annual and Special Meeting of Shareholders (the "Meeting"), held on April 27, 2023, including the appointment of Katya Zotova to the Board of Directors of the Company.

Ms. Zotova spent 25 years in strategy and corporate finance, private equity and investment banking across Europe, Middle East, Africa, Asia and the Americas. Ms. Zotova is currently an Advisor on Energy Transition, Infrastructure and Industrials at Antler VC Fund and a non executive director for Harland & Wolff plc. Prior to joining Antler, Ms. Zotova led Investment Banking Coverage for Corporates across Europe, Middle East and Africa for Mizuho International plc, acted as a Senior Advisor on M&A and Private Equity for McKinsey & Co and was a non executive director for Vedanta Resources plc where she chaired the Sustainability Committee. Prior to McKinsey, Ms. Zotova led direct investments at L1 Energy / Pamplona Capital LLP, ran the International Acquisitions and Divestments group for Energy Investment Banking at Citigroup and held a number of strategy and M&A roles at Shell plc. During the course of her career, Ms. Zotova lived and worked in the Netherlands, USA, UK, UAE, South Africa and Russia.

All resolutions presented to the Shareholders were approved at the Meeting. Each of the resolutions are explained in detail in the Management Information Circular published in connection with the Meeting. It is available for reference on the Company's website www.lithiumbank.ca.

A total of 13,148,050 common shares, representing approximately 34% of the Company's outstanding common shares, were voted in person and by proxy at the Meeting. Shareholders voted in favour of:

• Reappointing Davidson & Company LLP as auditors of the Company;
• Setting the number of directors at six, with the following six nominees elected as directors: Robert Shewchuk, Gianni Kovacevic, Steven Piepgrass, Christopher Murray, Paul Matysek and Katya (Ekaterina) Zotova. Ann Fehr chose not to stand for election at the Meeting and Katya (Ekaterina) Zotova was nominated by the shareholders present at the Meeting;
• Approving the Company's New Fixed Stock Option Plan; and
• Approving of the grant of incentive stock options under the New Fixed Stock Option Plan.

"On behalf of the board, I would like to thank shareholders for their participation and continuing support” commented Rob Shewchuk, CEO, LithiumBank. “We are very pleased to welcome Ms. Zotova to our board of directors. Her M&A experience at Shell plc, McKinsey and Citigroup and advisory on Energy Transition to Antler VC Fund and the World Energy Council will provide valuable support for the continued growth and success of LithiumBank”.

In connection with Ms. Zotova’s appointment, the Company granted 100,000 incentive stock options. These stock options will be exercisable at $1.23 per share, for a term of five years. The terms of the stock options will be in accordance with the Company’s Stock Option Plan.

LithiumBank also announces that it has engaged Real Creative Agency to provide marketing and investor relation services for the Company. Real Creative will assist LithiumBank in expanding investor awareness of its business and actively communicating with the investment community. In consideration for Real Creatives services, LithiumBank will pay a monthly fee of USD $7,500 for a term of 6 months. LithiumBank has also agreed to grant a total of 100,000 stock options to purchase common shares for a period of 5 years at a price of $1.26. The principal of Real Creative is Scott Shaffer. To the knowledge of the Company, Real Creative and Scott Shaffer do not own any common shares or warrants of LithiumBank. The agreement is subject to TSX approval.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is a development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank’s mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.

Contact: 

Rob ShewchukCEO & Directorrob@lithiumbank.ca(778) 987-9767

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 Statement Regarding Forward Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the potential impact Ms. Zotova will have on the future growth and success of the Company are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that Ms. Zotova past experience will allow her to contribute and support the growth and success of LithiumBank. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the impact of the addition of Ms. Zotova to the board of directors will not be as expected by management. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.