United Lithium Corp Completes Acquisition of 100% of the Bergby Lithium Project

About this update from United Lithium Corp

VANCOUVER, BC / ACCESSWIRE / April 30, 2021 / United Lithium Corp. (CSE:ULTH) (OTC PINK:ULTHF) (FWB:0UL) (the "Company") is pleased to announce, further to its news release dated February 11, 2021, that it has completed the acquisition (the "Acquisition") from Leading Edge Materials Corp. ("Leading Edge") of 100% of the issued and outstanding share capital of Bergby Lithium AB ("Bergby"), which holds a 100% interest in and to the mining licenses comprising the Bergby Lithium project (the "Project"), located in central Sweden, 25km north of Gavle. Purchase Consideration As consideration for the Acquisition, the Company has: (a) paid CAD$250,000 in cash; (b) issued 1,031,864 common shares in the capital of ULTH (each, a "ULTH Share"); (c) issued 400,000 common share purchase warrants (the "Warrants"), with each Warrant entitling the holder thereof to acquire, for a period of 36 months from the Closing Date, one ULTH Share at an exercise price equal to approximately CAD$0.485; and (d) granted a 2% net smelter returns royalty on the Project, which is subject to a buyback right in favour of ULTH, exercisable for CAD$1,000,000. The ULTH Shares will be escrowed and released over a 20-month period. The Company shall also pay an additional CAD$250,000 in cash on October 29, 2021. In addition to the foregoing, the Company has committed to exercise reasonable commercial efforts toward spending CAD$1,000,000 on exploration work on the Project prior to October 29, 2022, and Leading Edge will, at its cost, make available to the Company the part-time services of its Chief Geologist to provide geological support in exploring the Project until April 29, 2022. On Behalf of The Board of DirectorsMichael DehnChief Executive Officer Investor Relations(604) [email protected] About United Lithium Corp. United Lithium Corp. (CSE:ULTH) (OTC PINK:ULTHF) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities. The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at www.leadingedgematerials.com or under its profile on SEDAR at www.sedar.com. Forward-Looking State...

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