Consolidated Lithium Metals Announces Closing of $8.9 Million Private Placement Financing

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TORONTO, April 10, 2026 (GLOBE NEWSWIRE) — Consolidated Lithium Metals Inc. (TSXV: CLM | FRA: Z36 | OTCQB: JORFF) (“CLM” or the “Company”) is pleased to announce that, further to its press release on March 18, 2026, it has closed the second and final tranche (the “Final Tranche”) of its previously announced non-brokered offering (the “Offering”) of securities of the Company. Together with the first tranche of the Offering, the Company obtained gross proceeds of approximately $8,935,320.

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In connection with the Final Tranche, the Company obtained aggregate gross proceeds of approximately $1,050,320 by issuing 10,940,830 flow-through shares of the Company (each, a “Critical FT Share”) at a price of $0.096 per Critical FT Share. Each Critical FT Share consists of one common share of the Company (each, a “Common Share”) that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

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Richard Quesnel, CLM’s chief executive officer, commented, “We are pleased with the continued support from our shareholders, which reflects confidence in our strategy and our portfolio of critical mineral projects, including Kwyjibo, and positions the Company well to advance its objectives.”

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The Critical FT Shares issued pursuant to Canadian prospectus exemptions under National Instrument 45-106 – Prospectus Exemptions are subject to a statutory four-month hold period ending August 11, 2026, pursuant to applicable Canadian securities laws.

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The Company paid an aggregate of approximately $84,025 and issued a total of 875,266 non-transferable finder warrants (“Finder Warrants”) as finder’s fees to certain persons who assisted the Company in connection with the Final Tranche, including Integrity Capital Group Inc. and Research Capital Corporation. The Finder Warrants were issued at an exercise price equal to $0.096 per Finder Warrant. Each Finder Warrant entitles the holder thereof to purchase one Common Share and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.12 until April 10, 2029. The Finder Warrants and Common Shares and Warrants issuable upon exercise of the Finder Warrants are subject to a statutory four-month hold period ending August 11, 2026, pursuant to applicable Canadian securities laws.

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The Company intends to use the gross proceeds from the issuances of Critical FT Shares for exploration expenses and critical mineral mining expenditures on the Kwyjibo Rare Earth Project, as detailed in the Company’s press release dated November 18, 2025, and its lithium properties.

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The Offering remains subject to the final acceptance of the TSX Venture Exchange (“TSXV”).

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In addition, further to its press release on March 18, 2026, the Company announces a correction to certain fees paid in connection with the non-brokered private placement offering of securities of the Company. Capitalized terms used but not otherwise defined herein shall have the meaning ascribed thereto in the press release dated March 18, 2026.

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The Company paid an aggregate of approximately $379,200.01 and issued a total of 4,344,998 Finder Warrants as finder’s fees to certain persons, including Integrity Capital Group Inc., BT Global Growth Inc., Research Capital Corporation and PB Markets Inc., in consideration for introducing certain purchasers to the Company. 180,000 of the Finder Warrants were issued at an exercise price equal to $0.08 per Finder Warrant for Finder Warrants issued due to sales of LIFE Units, 1,874,998 of the Finder Warrants were issued at $0.096 per Finder Warrant for Finder Warrants issued due to sales of Critical FT Shares, and 2,290,000 of the Finder Warrants were issued at $0.12 per Finder Warrant for Finder Warrants issued due to sales of Charity FT Units. Each Finder Warrant entitles the holder thereof to purchase one Common Share and one-half of one Warrant. The Finder Warrants and Common Shares and Warrants issuable upon exercise of the Finder Warrants are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws. In addition, the Company paid Integrity Capital Group Inc. an advisory fee of $150,000, plus applicable HST, and 1,875,000 advisory warrants (“Advisory Warrants”) at an exercise price equal to $0.08 per Advisory Warrant. Each Advisory Warrant entitles the holder thereof to purchase one Common Share and one-half of one Warrant. The Advisory Warrants and Common Shares and Warrants issuable upon exercise of the Advisory Warrants are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws.