{"success":true,"data":{"pressRelease":{"id":"130674","rtpr_id":"nNFC7xXhdx","ticker":"LBNK","exchange":"","all_tickers":["LBNK"],"title":"LithiumBank Announces Closing of Upsized Private Placement","author":"Newsfile Corp","published_at":"2026-08-28T23:57:15.690Z","article_body":"Calgary, Alberta--(Newsfile Corp. - August 28, 2026) - LithiumBank Resources\nCorp. (TSXV: LBNK) (OTCQX: LBNKF) (\"LithiumBank\" or the \"Company\") is\npleased to announce that further to its news release dated August 27, 2026,\nthe Company has upsized and closed its previously announced non-brokered\nprivate placement of units of the Company (\"Offered Units\") at an issue price\nof $0.60 per Offered Unit (the \"Offering\"). Due to strong investor demand, the\nOffering was increased from 9,000,000 Offered Units to the issuance of\n9,206,830 Offered Units for gross proceeds of $5,524,098.\n\nEach Offered Unit consists of one common share in the capital of the Company\n(a \"Share\") and one non-transferable common share purchase warrant of the\nCompany (a \"Warrant\"). Each Warrant entitles the holder to purchase one Share\nfor a period of twenty-four (24) months from the date of issue at an exercise\nprice of $0.90.\n\nThe Company intends to use the net proceeds of the Offering towards completion\nof a feasibility study at its Boardwalk Lithium Brine Project in northwest\nAlberta and for general working capital purposes.\n\nIn connection with the Offering, the Company (i) paid to Ventum Financial\nCorp. and EMD Financial Inc. cash finders' fee of $43,938, and (ii) issued to\n73,229 finders' warrants (\"Finders' Warrants\"). Each Finders' Warrant is\nexercisable into one Share for a period of twenty-four (24) months from the\ndate of issue at an exercise price of $0.60.\n\nThe Offering remains subject to final approval of the TSX Venture Exchange\n(\"TSXV\"). All securities issued in connection with the Offering are subject to\na four-month hold period from the date of issuance under applicable Canadian\nsecurities laws, in addition to such other restrictions as may apply under\napplicable securities laws of jurisdictions outside Canada.\n\nNone of the securities sold under the Offering have been or will be registered\nunder the U.S. Securities Act and may not be offered or sold in the United\nStates, or to, or for the account or benefit of, U.S. persons or persons in\nthe United States, absent registration or an applicable exemption from the\nregistration requirements. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\nIn connection with the Private Placement, certain directors and officers of\nthe Company, (the \"Interested Parties\") participated in the Private Placement\nby purchasing an aggregate of 363,000 Offered Units (the \"Insider\nSubscriptions\") for $217,800 (representing approximately 3.9% of the proceeds\nfrom the Private Placement). The Insider Subscriptions constituted a \"related\nparty transaction\" within the meaning of Multilateral Instrument 61-101\nProtection of Minority Security Holders in Special Transactions (\"MI 61-101\").\nNotwithstanding the foregoing, the directors of the Company have determined\nthat the Interested Parties' participation in the Private Placement will be\nexempt from the formal valuation and minority shareholder approval\nrequirements of MI 61-101 in reliance on the exemptions set forth in sections\n5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was not filed more\nthan 21 days prior to closing of the Private Placement because the details of\nthe Private Placement and the Insider Subscription therein had not been\nconfirmed at that time.\n\nAbout LithiumBank Resources Corp.\n\nLithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) is a publicly traded\nlithium company that is focused on developing its two flagship projects,\nBoardwalk and Park Place, in Western Canada. These projects host some of the\nlargest lithium brine resources in North America. The Company holds 1,240,140\nacres of brown-field brine hosted mineral licenses across three districts in\nAlberta and Saskatchewan. The Company has pilot tested multiple mature Direct\nLithium Extraction (\"DLE\") technologies and has signed a Development Agreement\nwith SLB to bring the Boardwalk project into production. This agreement\nincludes binding DLE licensing terms with SLB to provide an energy efficient,\ncost-effective and commercially viable end-to-end lithium brine solution. The\nCompany is now working toward establishing commercial lithium production by\nleveraging existing brownfield infrastructure and a modular scale-up approach.\n\nContact:\n\nRob Shewchuk\nCEO & Director\nrob@lithiumbank.ca\n(778) 987-9767\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis release includes certain statements and information that may constitute\nforward-looking information within the meaning of applicable Canadian\nsecurities laws. Forward-looking statements relate to future events or future\nperformance and reflect the expectations or beliefs of management of the\nCompany regarding future events. Generally, forward-looking statements and\ninformation can be identified by the use of forward-looking terminology such\nas \"intends\" or \"anticipates\", or variations of such words and phrases or\nstatements that certain actions, events or results \"may\", \"could\", \"should\",\n\"would\" or \"occur\". This information and these statements, referred to herein\nas \"forward‐looking statements\", are not historical facts, are made as of\nthe date of this news release and include without limitation, statements\nregarding discussions of future plans, estimates and forecasts and statements\nas to management's expectations and intentions with respect to, among other\nthings: the intended use of the net proceeds raised under the Offering; the\ncompletion of the feasibility study at the Company's Boardwalk Lithium Brine\nProject; the Company's plans to establish commercial lithium production by\nleveraging existing brownfield infrastructure and a modular scale approach;\nand the receipt of final regulatory approval from the TSXV.\n\nThese forward‐looking statements involve numerous risks and uncertainties\nand actual results might differ materially from results suggested in any\nforward-looking statements. These risks and uncertainties include, among other\nthings: delays in obtaining or failure to obtain final TSXV approval for the\nOffering; the inability of the Company to utilize the anticipated proceeds of\nthe Offering as anticipated; market uncertainty; changes in the Company's\nbusiness plans impacting the intended use of proceeds raised under the\nOffering; the potential for delays in exploration, development, permitting,\nand assembly activities at the Company's projects; the risk that the\nfeasibility study at the Company's Boardwalk Lithium Brine Project will not be\ncompleted as anticipated or will not produce results consistent with the\nCompany's expectations; the Company's ability to establish commercial lithium\nproduction as anticipated, including by leveraging existing brownfield\ninfrastructure and a modular scale-up approach; risks related to commodity\nprice and foreign exchange rate fluctuations; the cyclical nature of the\nindustry in which the Company operates; risks related to global financial\nmarkets, including the trading price of the Company's shares and the Company's\nability to raise capital may also result in additional and unknown risks or\nliabilities to the Company.\n\nIn making the forward-looking statements in this news release, the Company has\napplied several material assumptions, including without limitation: the\nCompany will obtain final TSXV approval for the Offering; the Company will use\nthe proceeds of the Offering as currently anticipated; the feasibility study\nand other development activities at the Boardwalk Lithium Brine Project will\nproceed as anticipated; and the Company will be able to advance its plans\ntoward establishing commercial lithium production by leveraging existing\nbrownfield infrastructure and a modular scale-up approach;\n\nAlthough management of the Company has attempted to identify important factors\nthat could cause actual results to differ materially from those contained in\nforward-looking statements or forward-looking information, there may be other\nfactors that cause results not to be as anticipated, estimated or intended.\nThere can be no assurance that such statements will prove to be accurate, as\nactual results and future events could differ materially from those\nanticipated in such statements. Accordingly, readers should not place undue\nreliance on forward-looking statements and forward-looking information.\nReaders are cautioned that reliance on such information may not be appropriate\nfor other purposes. The Company does not undertake to update any\nforward-looking statement, forward-looking information or financial outlook\nthat are incorporated by reference herein, except in accordance with\napplicable securities laws. We seek safe harbor.\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES\nOR FOR DISSEMINATION IN THE UNITED STATES\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312023","article_body_html":"","raw_payload":{"data":{"id":"nNFC7xXhdx","title":"LithiumBank Announces Closing of Upsized Private Placement","author":"Newsfile Corp","ticker":"LBNK","created":"2026-08-28T23:57:15.690Z","tickers":["LBNK"],"exchange":"","article_body":"Calgary, Alberta--(Newsfile Corp. - August 28, 2026) - LithiumBank Resources\nCorp. (TSXV: LBNK) (OTCQX: LBNKF) (\"LithiumBank\" or the \"Company\") is\npleased to announce that further to its news release dated August 27, 2026,\nthe Company has upsized and closed its previously announced non-brokered\nprivate placement of units of the Company (\"Offered Units\") at an issue price\nof $0.60 per Offered Unit (the \"Offering\"). Due to strong investor demand, the\nOffering was increased from 9,000,000 Offered Units to the issuance of\n9,206,830 Offered Units for gross proceeds of $5,524,098.\n\nEach Offered Unit consists of one common share in the capital of the Company\n(a \"Share\") and one non-transferable common share purchase warrant of the\nCompany (a \"Warrant\"). Each Warrant entitles the holder to purchase one Share\nfor a period of twenty-four (24) months from the date of issue at an exercise\nprice of $0.90.\n\nThe Company intends to use the net proceeds of the Offering towards completion\nof a feasibility study at its Boardwalk Lithium Brine Project in northwest\nAlberta and for general working capital purposes.\n\nIn connection with the Offering, the Company (i) paid to Ventum Financial\nCorp. and EMD Financial Inc. cash finders' fee of $43,938, and (ii) issued to\n73,229 finders' warrants (\"Finders' Warrants\"). Each Finders' Warrant is\nexercisable into one Share for a period of twenty-four (24) months from the\ndate of issue at an exercise price of $0.60.\n\nThe Offering remains subject to final approval of the TSX Venture Exchange\n(\"TSXV\"). All securities issued in connection with the Offering are subject to\na four-month hold period from the date of issuance under applicable Canadian\nsecurities laws, in addition to such other restrictions as may apply under\napplicable securities laws of jurisdictions outside Canada.\n\nNone of the securities sold under the Offering have been or will be registered\nunder the U.S. Securities Act and may not be offered or sold in the United\nStates, or to, or for the account or benefit of, U.S. persons or persons in\nthe United States, absent registration or an applicable exemption from the\nregistration requirements. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\nIn connection with the Private Placement, certain directors and officers of\nthe Company, (the \"Interested Parties\") participated in the Private Placement\nby purchasing an aggregate of 363,000 Offered Units (the \"Insider\nSubscriptions\") for $217,800 (representing approximately 3.9% of the proceeds\nfrom the Private Placement). The Insider Subscriptions constituted a \"related\nparty transaction\" within the meaning of Multilateral Instrument 61-101\nProtection of Minority Security Holders in Special Transactions (\"MI 61-101\").\nNotwithstanding the foregoing, the directors of the Company have determined\nthat the Interested Parties' participation in the Private Placement will be\nexempt from the formal valuation and minority shareholder approval\nrequirements of MI 61-101 in reliance on the exemptions set forth in sections\n5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was not filed more\nthan 21 days prior to closing of the Private Placement because the details of\nthe Private Placement and the Insider Subscription therein had not been\nconfirmed at that time.\n\nAbout LithiumBank Resources Corp.\n\nLithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) is a publicly traded\nlithium company that is focused on developing its two flagship projects,\nBoardwalk and Park Place, in Western Canada. These projects host some of the\nlargest lithium brine resources in North America. The Company holds 1,240,140\nacres of brown-field brine hosted mineral licenses across three districts in\nAlberta and Saskatchewan. The Company has pilot tested multiple mature Direct\nLithium Extraction (\"DLE\") technologies and has signed a Development Agreement\nwith SLB to bring the Boardwalk project into production. This agreement\nincludes binding DLE licensing terms with SLB to provide an energy efficient,\ncost-effective and commercially viable end-to-end lithium brine solution. The\nCompany is now working toward establishing commercial lithium production by\nleveraging existing brownfield infrastructure and a modular scale-up approach.\n\nContact:\n\nRob Shewchuk\nCEO & Director\nrob@lithiumbank.ca\n(778) 987-9767\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis release includes certain statements and information that may constitute\nforward-looking information within the meaning of applicable Canadian\nsecurities laws. Forward-looking statements relate to future events or future\nperformance and reflect the expectations or beliefs of management of the\nCompany regarding future events. Generally, forward-looking statements and\ninformation can be identified by the use of forward-looking terminology such\nas \"intends\" or \"anticipates\", or variations of such words and phrases or\nstatements that certain actions, events or results \"may\", \"could\", \"should\",\n\"would\" or \"occur\". This information and these statements, referred to herein\nas \"forward‐looking statements\", are not historical facts, are made as of\nthe date of this news release and include without limitation, statements\nregarding discussions of future plans, estimates and forecasts and statements\nas to management's expectations and intentions with respect to, among other\nthings: the intended use of the net proceeds raised under the Offering; the\ncompletion of the feasibility study at the Company's Boardwalk Lithium Brine\nProject; the Company's plans to establish commercial lithium production by\nleveraging existing brownfield infrastructure and a modular scale approach;\nand the receipt of final regulatory approval from the TSXV.\n\nThese forward‐looking statements involve numerous risks and uncertainties\nand actual results might differ materially from results suggested in any\nforward-looking statements. These risks and uncertainties include, among other\nthings: delays in obtaining or failure to obtain final TSXV approval for the\nOffering; the inability of the Company to utilize the anticipated proceeds of\nthe Offering as anticipated; market uncertainty; changes in the Company's\nbusiness plans impacting the intended use of proceeds raised under the\nOffering; the potential for delays in exploration, development, permitting,\nand assembly activities at the Company's projects; the risk that the\nfeasibility study at the Company's Boardwalk Lithium Brine Project will not be\ncompleted as anticipated or will not produce results consistent with the\nCompany's expectations; the Company's ability to establish commercial lithium\nproduction as anticipated, including by leveraging existing brownfield\ninfrastructure and a modular scale-up approach; risks related to commodity\nprice and foreign exchange rate fluctuations; the cyclical nature of the\nindustry in which the Company operates; risks related to global financial\nmarkets, including the trading price of the Company's shares and the Company's\nability to raise capital may also result in additional and unknown risks or\nliabilities to the Company.\n\nIn making the forward-looking statements in this news release, the Company has\napplied several material assumptions, including without limitation: the\nCompany will obtain final TSXV approval for the Offering; the Company will use\nthe proceeds of the Offering as currently anticipated; the feasibility study\nand other development activities at the Boardwalk Lithium Brine Project will\nproceed as anticipated; and the Company will be able to advance its plans\ntoward establishing commercial lithium production by leveraging existing\nbrownfield infrastructure and a modular scale-up approach;\n\nAlthough management of the Company has attempted to identify important factors\nthat could cause actual results to differ materially from those contained in\nforward-looking statements or forward-looking information, there may be other\nfactors that cause results not to be as anticipated, estimated or intended.\nThere can be no assurance that such statements will prove to be accurate, as\nactual results and future events could differ materially from those\nanticipated in such statements. Accordingly, readers should not place undue\nreliance on forward-looking statements and forward-looking information.\nReaders are cautioned that reliance on such information may not be appropriate\nfor other purposes. The Company does not undertake to update any\nforward-looking statement, forward-looking information or financial outlook\nthat are incorporated by reference herein, except in accordance with\napplicable securities laws. We seek safe harbor.\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES\nOR FOR DISSEMINATION IN THE UNITED STATES\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312023"},"type":"article","timestamp":"2026-08-28T23:57:20.889779341Z","server_sent_at_ms":1787961440889},"received_at":"2026-08-28T23:57:20.954Z","source_url":"https://www.newsfilecorp.com/release/312023"},"analysis":{"id":"119584","press_release_id":"130674","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Deal subject to final TSXV approval despite being announced as closed","Use of proceeds includes 'general working capital purposes'"],"eventType":"offering","narrative":"LithiumBank closed an upsized non-brokered private placement, issuing 9,206,830 units at $0.60 each for gross proceeds of $5.5 million.\n\nThe offering was increased from the originally planned 9 million units due to strong investor demand, with proceeds designated for the Boardwalk project feasibility study and working capital.\n\nInsiders participated in the raise, purchasing 363,000 units for $217,800 under an exempt related party transaction.\n\nEach unit includes one share and one warrant exercisable at $0.90 for 24 months; the deal remains subject to final TSX Venture Exchange approval.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Upsized private placement funds feasibility study."},"keyFigures":{"dealValueUsd":5524098,"offeringPrice":0.6,"sharesOffered":9206830,"customDimensions":{"finder_fee":43938,"warrant_term_months":24,"warrant_exercise_price":0.9,"insider_participation_units":363000,"insider_participation_proceeds":217800}},"quotedText":"","namedEntities":{"people":[{"name":"Rob Shewchuk","role":"CEO & Director"}],"products":["Boardwalk Lithium Brine Project","Park Place"],"companies":[{"name":"LithiumBank Resources Corp.","ticker":"LBNK"},{"name":"Ventum Financial Corp.","relationship":"finder"},{"name":"EMD Financial Inc.","relationship":"finder"},{"name":"SLB","relationship":"partner"}],"dollarAmounts":[{"amount":"$5,524,098","context":"gross proceeds of the Offering"},{"amount":"$0.60","context":"issue price per Offered Unit"},{"amount":"$0.90","context":"Warrant exercise price"},{"amount":"$43,938","context":"cash finders' fee"},{"amount":"$217,800","context":"Insider Subscriptions"}]},"materialImpact":{"score":2,"reasoning":"Standard non-brokered private placement for a junior mining company, which was upsized due to strong demand. While dilutive, the proceeds are directly funding a feasibility study milestone, though it lacks the scale or strategic weight of a material impact 4+ event."},"tickerRelevance":{"others":[],"primary":"LBNK"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"standard_financing","marketCapAdjustment":"junior_miner"}},"event_type":"offering","event_type_secondary":["dilution"],"sentiment":"bullish","material_impact_score":2,"narrative":"LithiumBank closed an upsized non-brokered private placement, issuing 9,206,830 units at $0.60 each for gross proceeds of $5.5 million.\n\nThe offering was increased from the originally planned 9 million units due to strong investor demand, with proceeds designated for the Boardwalk project feasibility study and working capital.\n\nInsiders participated in the raise, purchasing 363,000 units for $217,800 under an exempt related party transaction.\n\nEach unit includes one share and one warrant exercisable at $0.90 for 24 months; the deal remains subject to final TSX Venture Exchange approval.","key_figures":{"dealValueUsd":5524098,"offeringPrice":0.6,"sharesOffered":9206830,"customDimensions":{"finder_fee":43938,"warrant_term_months":24,"warrant_exercise_price":0.9,"insider_participation_units":363000,"insider_participation_proceeds":217800}},"named_entities":{"people":[{"name":"Rob Shewchuk","role":"CEO & Director"}],"products":["Boardwalk Lithium Brine Project","Park Place"],"companies":[{"name":"LithiumBank Resources Corp.","ticker":"LBNK"},{"name":"Ventum Financial Corp.","relationship":"finder"},{"name":"EMD Financial Inc.","relationship":"finder"},{"name":"SLB","relationship":"partner"}],"dollarAmounts":[{"amount":"$5,524,098","context":"gross proceeds of the Offering"},{"amount":"$0.60","context":"issue price per Offered Unit"},{"amount":"$0.90","context":"Warrant exercise price"},{"amount":"$43,938","context":"cash finders' fee"},{"amount":"$217,800","context":"Insider Subscriptions"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-28T23:58:49.505Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"micro-cap","eventGravity":"standard_financing","marketCapAdjustment":"junior_miner"}},"durationMs":88541,"modelName":"glm-4.7"}}