AlkaLi3 Resources Inc. Announces Revised Terms of Private Placement Undertaken by Loop Insights Inc. in Connection With Reverse Take-Over

CALGARY, May 03, 2019 - AlkaLi3 Resources Inc. ("AlkaLi3") (NEX: ALK.H) announces that Loop Insights Inc. ("Loop") has revised the terms of the private placement financing (the "Financing") currently being undertaken in connection with the proposed amalgamation of Loop and AlkaLi3 (the "Transaction"), all as previously disclosed in the joint management information circular (the "Information Circular") of AlkaLi3 and Loop dated April 11, 2019.

The revised terms of the Financing provide for the issuance of a minimum of 3,750,000 units (each, a "Unit") of Loop at a price of $0.80 per Unit, for minimum gross proceeds of $3,000,000. Each Unit will be comprised of one common share in the capital of Loop (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share for a period of twenty-four months after the closing date of the Financing at an exercise price of $1.50 per Common Share.

Although the Financing will be non-brokered, Loop will pay a finder's fee to certain finders consisting of: (i) a cash commission of up to 8% of the gross proceeds of the Financing derived from subscribers introduced to Loop by such finders; and (ii) that number of broker warrants (the "Broker Warrants") equal to up to 8% of the number of Units subscribed for by subscribed introduced to Loop by such finders. Each Broker Warrant will entitle the holder thereof to acquire one Common Share for a period of twenty-four months after the closing date of the Financing at an exercise price of $1.50.

Loop's capital structure as set out in the Information Circular is not expected to change as a result of the revised terms of the Financing.

Loop intends to use the proceeds of the Financing for general working capital purposes and business development purposes. AlkaLi3 and Loop have received conditional approval of the TSX Venture Exchange (the "Exchange") for the Financing and the Transaction. It is anticipated the Financing will close immediately prior to the completion of the Transaction.

The securities issued in the Financing will be legended with a "hold period" in accordance with applicable securities law and the policies of the Exchange, as required.



For further information contact:

Paul Baay, Chairman of the Board of AlkaLi3
(403) 619-8407

Rob Anson, Chief Executive Officer of Loop
(604) 600-7950



Forward-Looking Statements and Disclaimers

This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding the Financing including the terms thereof and the expected use of proceeds from the Financing. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond AlkaLi3's and Loop's control, including the ability of AlkaLi3 and Loop to satisfy the conditions to completion of the Transaction including receipt of all regulatory approvals (including the Exchange) and shareholder approvals, the ability of Loop to complete the Financing on the terms proposed or at all, the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although AlkaLi3 and Loop believe that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, neither AlkaLi3 nor Loop undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Information Circular which has been prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of AlkaLi3 should be considered highly speculative.

The Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.

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.