Century Lithium Corp. (TSX-V: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) is pleased to announce that it has closed the first tranche of its previously announced financing under the Listed Issuer Financing Exemption (as defined below) of up to an aggregate of 16,666,667 units at a price of $0.30 per Unit for aggregate gross proceeds of up to $5,000,000. Each Unit consists of one common share in the capital of the Company  and one Common Share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.45 for a period of 60 months following the issuance of the Units.

Pursuant to the Initial Closing, the Company issued a total of 9,559,833 Units for aggregate gross proceeds of $2,867,950.

Certain directors and officers of the Company purchased an aggregate of 168,333 Units in the Initial Closing. As a result, the Offering is a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Offering is exempt from the formal valuation requirements of MI 61-101 pursuant to subsection 5.5(b) of MI 61-101 because the Common Shares are listed only on the TSX Venture Exchange (the “TSXV”) and is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to subsection 5.5(a) thereof, because neither the fair market value of the Units to be issued to related parties nor the consideration to be paid by related parties pursuant to the Offering exceeds 25% of the Company’s market capitalization as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the expected date of the Initial Closing as the participation therein by related parties was not settled until shortly prior to the closing of the Offering.

In connection with the Initial Closing, the Company paid a total of $133,907 in cash fees and issued 446,355 compensation warrants to certain finders.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. “U.S. Person” and “United States” are as defined in Regulation S under the U.S. Securities Act, or elsewhere.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced stage lithium company, focused on developing its wholly owned Angel Island project in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate product samples from Angel Island’s lithium-bearing claystone on-site at its Demonstration Plant in Amargosa Valley, Nevada.

Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan expected to yield an estimated life-of-mine average of 34,000 tonnes per year of carbonate over a 40-year mine-life.