Neo Lithium completes qualifying transaction and concurrent US$18.7 million financings

On July 18, 2016, Neo Lithium Corp. (“Neo Lithium”), formerly POCML 3 Inc., announced the completion of its qualifying transaction (the “Transaction”) pursuant to Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange. Pursuant to the Transaction, Neo Lithium amalgamated with privately held Neo Lithium Corp. (a predecessor company; “Old Neo”) to form Neo Lithium. Neo Lithium’s common shares are now listed for trading on the TSX Venture Exchange under the symbol “NLC”. Prior to the closing of the Transaction, Neo Lithium completed a private placement of subscription receipts for gross proceeds of approximately $7 million, and Old Neo completed a private placement of common shares for gross proceeds of approximately $11.7 million. Old Neo was advised in this transaction by a team from Fasken Martineau DuMoulin LLP that included Paul Fornazzari, Mark Bowman, Reid Crombie and Martin Ferreira Pinho (securities/M&A).