Mr. Nav Dhaliwal reports

LITHIUM ONE COMPLETES FINAL TRANCHE OF PRIVATE PLACEMENT

Lithium One Metals Inc. has closed the second and final tranche of its previously announced non-brokered private placement through the issuance of four million common shares at a price of 25 cents per share for total gross proceeds of $1-million. The company raised an aggregate $1.4-million under the placement.

Net proceeds raised under the placement will be used to finance the transaction costs associated with the proposed acquisition of Norris Lithium Inc. (announced in the company's news release dated June 19, 2023) and general working capital.

The shares are subject to a hold period and may not be traded until Jan. 14, 2024, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

About Lithium One Metals Inc.

Lithium One is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Quebec. Its team of experienced geologists and prospectors is at the forefront of the search for the next generation of lithium deposits.

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