Shareholder Update

Effective December 22, 2022, all of the issued and outstanding common shares of Bearing Lithium Corp. (“Bearing”) were acquired indirectly by way of a plan of arrangement by Lithium Power International Limited, a public company listed on the Australian Securities Exchange (ASX: LPI) (the “Arrangement”). Pursuant to the Arrangement, holders of  Bearing’s common shares (“Bearing Shares”) received  0.7  ordinary  shares  of  LPI  (“LPI  shares”) for  each  Bearing Share held,  subject  to  rounding.  All  outstanding  Bearing  stock  options  and  warrants  will  remain outstanding according to their original terms and expiry dates, and will be exercisable into LPI Shares subject to  the  ratio  of  0.7  LPI  Shares  for  one Bearing  Share.  In  addition,  holders of Bearing Shares on Bearing’s register at the time of closing are entitled to receive a cash distribution in the amount of approximately C$0.015 per Bearing Share.

Following the completion of the acquisition, effective at the close of business on December 23, 2022, Bearing’s common shares have been delisted from the TSX Venture Exchange. For more information regarding the Arrangement, please refer to Bearing’s press release dated December 22, 2022.


Computershare, the former transfer agent of Bearing, has said that this is a custodian issue and ultimately your broker/custodian is responsible for completing the necessary paperwork for your shares to be exchanged. If your shares were held in OTC then the shares are most likely held by a DTC participant. Issuer Sponsored Statements were mailed to all DTC Participants for their positions as at the effective time of the arrangement between Bearing LPI. Computershare has suggested that you inform your custodian/broker to contact Computershare (Chester – contact information below) so he can email the relevant Issuer Sponsored Statement. Once the DTC participant receives the statement, it will have to determine how it will handle based on the instructions provided. Otherwise, Computershare will be able to answer any questions you may have about the exchange process.

Chester Wlodarczyk
Project Manager > Corporate Actions


Bearing Lithium is focused on advancing it’s Maricunga Lithium Brine Project in Chile towards production.
The Maricunga Project represents one of the few projects at the development stage in Latin America.

Bearing’s primary asset is a 17.14% interest in the Maricunga lithium project in Chile. The Maricunga project is the most advanced, high-grade undeveloped lithium salar in the Americas. Over US$67 million has been invested in the project to date.

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A World Class Asset

The Maricunga project represents the highest-grade, pre-production lithium brine project in the world and the only potential new project in Chile. Chile is host to some of the most prolific lithium brine deposits in the world, namely the Salar de Atacama which is the highest grade and lowest cost operation, and accounts for 40% of lithium production globally. The Maricunga is located in Region III of Atacama in northern Chile with excellent infrastructure. It is located along International Highway 31 which connects Chile and Argentina, approximately 170 kilometers northeast of the mining town of Copiapó, and has authorization access the underutilized national power grid as well has having secured ample water rights.


One of the Most Advanced Projects in the Americas

The project is host to a NI 43-101 M&I resource of 2.9 million tonnes of lithium carbonate equivalent (“LCE”). Stage One Project of 15,000 mt pa 20 year life boasts a 1.9 million tonnes of LCE with an average grade of 953 mg/L lithium (Li) and is Environmentally Approved. The Stage Two Development has 1.0 million tonnes of LCE.

Finalizing Arrangements for Construction

The final approvals for construction and operation and discussions with key strategic partners for offtake and construction financing are underway. The Environmental Impact Assessment (EIA) was submitted to the Chilean Environmental Review Agency (SEA) and was approved in February 2020. A key regulatory export license from the Chilean Nuclear Commission (CCHEN) was awarded in 2018 which allows for the extraction, production and marketing of lithium products.

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Legal Notice

The information provided through this website is intended solely for the general knowledge of visitors to the website and does not constitute an offer or a solicitation of an offer for the purchase or sale of any securities of Bearing Lithium Corp. or any affiliated companies.