Bearing Lithium Corp. Announces Consolidation With Lithium Power International Limited

VANCOUVER, British Columbia, June 22, 2022 (GLOBE NEWSWIRE) -- (TSXV:BRZ.VN) Bearing Lithium Corp. (the "Company" or "Bearing") is pleased to announce it has entered into an arm’s-length definitive agreement (the "Agreement") dated June 21^st 2022, with Lithium Power International Limited ("LPI") (Australian Securities reimbursement Exchange, (“ASX”), code LPI), its joint venture partner in the Maricunga Lithium Brine Project in Chile (the "Project"), pursuant to which LPI has agreed to acquire all of the issued and outstanding common shares of Bearing in an all share transaction to be completed by way of a statutory plan of arrangement (the "Transaction") under the provisions of the Business Corporations Act (British Columbia) as part of a three way transaction that consolidates 100% interest in the Project into a single entity (the “Consolidation”).