WARATAH CAPITAL ADVISORS LTD. PROVIDES UPDATE ON INTEREST IN ACME LITHIUM INC.

TORONTO, September 21, 2022 /CNW/ – Waratah Capital Advisors Ltd. (“Waratah“) today filed an early warning report (the “Early warning report“) regarding its interest in ACME Lithium Inc. (the “Transmitter“).

On April 4, 2022Waratah acquired control or direction of Waratah Electrification and Decarbonization Fund (“E&D“) acquired beneficial ownership of 139,900 ordinary shares in the capital of the Issuer (“Shares“) through the Canadian Securities Exchange (the “CSE“) at a weighted average price of approximately $1.32 per share for a total consideration of approximately $184,604.08 (there “Transaction“). Prior to the transaction, Waratah had control or direction over 3,179,500 shares and 1,589,750 stock warrants (“Mandates“), of which E&D beneficially owned 2,705,958 shares and 1,352,979 warrants and Lithium Royalty Corp. (“CRL” and, with E&D, the “Investors“) beneficially owned 473,542 shares and 236,771 warrants, representing approximately 9.94% of the issued and outstanding shares (calculated on a partially diluted basis). Immediately following the transaction, Waratah had control or direction over 3,319,400 shares and 1,589,750 warrants, of which E&D beneficially owns 2,845,858 shares and 1,352,979 warrants and LRC beneficially owns 473,542 shares and 236,771 warrants, representing approximately 10.23 % of issued and outstanding shares (calculated on a partially diluted basis).

As a result of the transaction, Waratah acquired control or direction of, and E&D acquired beneficial ownership of: (a) 219,800 shares between April 5 and April 13, 2022 via CSE facilities at a weighted average price of approximately $1.34 per share for a total consideration of approximately $294,977.23; and (b) 2,963,495 units (“Units“) on May 6, 2022 at a price of $1.08 per unit for an overall consideration of approximately $3,200,575 through a private placement without an intermediary, each unit consisting of one share and half a warrant. As of the date hereof, Waratah exercises control or direction over 6,502,695 shares and 3,071,498 warrants, of which E&D beneficially owns 6,029,153 shares and 2,834,727 warrants and LRC beneficially owns 473 542 shares and 236,771 warrants, representing approximately 16.96% of the issued and outstanding shares (calculated on a partially diluted basis).

The securities of the Issuer have been acquired for general investment purposes. Depending on various factors, including without limitation market conditions, general economic and industry conditions, the Issuer’s business and financial condition and/or any other factors that Waratah and the Investors may deem relevant , Waratah and Investors may take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, acquiring, exercising, converting, exchanging , the sale or disposal of securities of the Issuer or securities exercisable or convertible or exchangeable into securities of the Issuer and/or making plans or intentions or taking any action which relates to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Element 5 of the Early Warning Report.

This press release is being disseminated in accordance with National Instrument 62-103 – The Early Warning System and Related Issues Related to Takeover Bids and Insider Reporting and National Instrument 62-104 – Takeover Bids and Issuer Bids in connection with the filing of the alert report, a copy of which is available on SEDAR under the issuer’s profile at www.sedar.com and which may be obtained by contacting Philippe Panet at 416-687-6791.

Waratah, a company incorporated under the Business Corporations Act (Ontario), is a registered investment adviser under the Investment Advisers Act 1940 of United States which provides investment management services to investors. Waratah’s address is 1133 Yonge Street, 5e Floor, Toronto, Ontario, M4T 2Y7. The registered office of the Issuer is located at 300 – 2015, rue Burrard, Vancouver, British ColumbiaV6J 3H4.

SOURCE Waratah Capital Advisors Ltd.

For further information: Philip Panet at 416-687-6791

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