Li-Metal Announces Intention to Voluntarily Delist from CSE

Toronto, September 3, 2024 - Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO) ("Li-Metal" or the "Company"), a leading developer of lithium metal anode production technologies essential for next-generation batteries, announces its intention to voluntarily delist (the "Delisting") its common shares from the Canadian Securities Exchange ("CSE").

The Delisting will be subject to, among other things, CSE approval and approval of a majority of disinterested shareholders of the Company. Disinterested shareholders include all shareholders other than insiders of the Company. The Company plans on obtaining the necessary shareholder approval by obtaining written consents of disinterested shareholders holding more than 50% of the issued and outstanding common shares of the Company held by disinterested shareholders. If the Company is unsuccessful in obtaining shareholder approval by written consents, the Company intends to then seek the requisite consent at a meeting of shareholders.

Following a comprehensive review, the Company has determined that requesting the Delisting from the CSE due to prolonged weak market conditions would be in the best interest of the Company. The Board of Directors (the "Board") believes that the current market price of the Company's common shares is not an accurate reflection of their value and such market price has had and will continue to have a negative impact on the Company's ability to transact. The Delisting will also allow the Company to save costs associated with the listing and, as a result, preserve capital.

The Delisting will occur no earlier than 20 trading days from the date the Company obtains the necessary shareholder approval, assuming the Company has satisfied any other delisting conditions of the CSE. Following the Delisting, the Company will continue to be subject to ongoing disclosure and other obligations as a reporting issuer under applicable securities legislation in Canada.

Notwithstanding the CSE and Shareholders approving the Delisting (such approval outlined above), the Board will retain the discretion not to proceed with the Delisting if it determines that the Delisting is no longer in the best interest of the Company.

Notwithstanding the reasons for the Delisting, Shareholders should be aware that Delisting also means that Shareholders will lose access to a broad pool of buyers, sellers and market intermediaries available on a stock exchange. Should the Delisting be approved by the CSE and shareholders, and the Company proceeds with the Delisting, Shareholders should be aware that there will be no organized regulated market through which these securities may be sold, which will affect the pricing of the common shares in the secondary markets; the transparency and availability of trading prices; and the liquidity of the common shares.

"After careful consideration and in light of the current challenging market conditions, we have made the strategic decision to initiate the delisting process. The recent market price of our common shares does not accurately reflect their true value. By moving forward with the delisting, we aim to eliminate these market constraints and focus on our long-term strategic goals. Our commitment to delivering value to our shareholders remains steadfast, and we are confident that this decision will better position us to achieve our objectives and drive future success," Keshav Kochhar CEO stated.

About Li-Metal Corp.

Li-Metal (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO) is a leader in the development of advanced anode production technology to support next generation batteries, providing potential for longer range electric vehicles, electric flight and other advanced applications. At Li-Metal's Rochester facility, the Company continues to actively work with automotive and battery manufacturers in the advancement of next generation batteries. Li-Metal supports battery developers' ability to power more cost-effective electric vehicles that go farther and unlock the future of transportation. For more information, visit: https://li-metal.com.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's plans and its ability to successfully delist from the CSE are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there is no guarantee that the Company will continue with the Delisting or receive the necessary shareholder and regulatory approvals to proceed with the Delisting. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

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