TORONTO, April 03, 2025 (GLOBE NEWSWIRE) — On April 2, 2025, Richard Quesnel, the chief executive officer and a director of Consolidated Lithium Metals Inc. (the “Company”; TSXV: CLM), acquired an aggregate of 10,000,000 units (each, a “Unit”) of the Company at a price of $0.01 per Unit pursuant to a unit private placement financing for an aggregate cost of $100,000. Each Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles Mr. Quesnel to acquire one additional Common Share at an exercise price of $0.05 for a period of 24 months from issuance. Prior to the acquisition of the aforesaid securities, Mr. Quesnel owned 18,873,000 Common Shares, 9,000,000 warrants to purchase an equal number of Common Shares (“Company Warrants”), and 5,000,000 options to purchase an equal number of Common Shares (the “Options”), representing approximately 5.12% of the outstanding CLM Shares on a non-diluted basis and 8.60% on a partially-diluted basis (after taking into account the exercise of the Company Warrants and Options). As a result of this transaction, Mr. Quesnel now owns 28,873,000 Common Shares, 14,000,000 Company Warrants, and 5,000,000 Options which represent approximately 7.42% of the outstanding Common Shares on a non-diluted basis and 11.72% on a partially diluted basis (after taking into account the exercise of the Company Warrants and Options).
Mr. Quesnel acquired the Units for investment purposes. Mr. Quesnel may acquire additional securities of the Company in the future, may dispose of some or all of the securities or may continue to hold his current position.
A copy of the early warning report filed in respect of the transaction described above is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
For further information or to request a copy of the early warning report please contact:
Richard Quesnel
5 Hazelton Avenue
Toronto, Ontario
M5R 2E1
(416) 861-1685
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