Vancouver, British Columbia, September 27, 2023 – Lithium One Metals Inc. (“Lithium One”) (TSXV: LONE; OTCQB: LOMEF; FSE: H490) and Norris Lithium Inc. (“Norris”) (CSE: CHCK) are pleased to announce the completion of the previously announced acquisition of Norris by Lithium One by way of court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the “Acquisition”).

Details of Acquisition

Lithium One acquired all the outstanding shares of Norris (the “Norris Shares”) in consideration for the issuance of an aggregate of 22,684,434 common shares of Lithium One (“Lithium One Shares”) to the former Norris shareholders, based on the share exchange ratio of 0.672 Lithium One Shares for each Norris Share held. Full details of the Acquisition and certain other matters are set out in the management information circular of Norris dated August 11, 2023, which can be found under the SEDAR+ profile of Norris at www.sedarplus.ca.

Board of Director Changes

In connection with the Acquisition, Robert Jewson and Dale Ginn have joined the board of directors of Lithium One to replace Nicholas Watters and Carl Ginn following their resignations as directors of Lithium One. In addition, Dale Ginn has been appointed President and Chief Executive Officer of Lithium One and Nav Dhaliwal has transitioned to the role of Executive Chairman of Lithium One following his resignation as President and Chief Executive Officer.

Delisting of Norris Shares
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