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3/1/18

Lithium X (LIX.v):Well that's all right then

Beats me why you're worried. Cheque's in the post.

VANCOUVER, March 1, 2018 /CNW/ - Lithium X Energy Corp.  ("Lithium X" or the "Company") (TSXV: LIX) (OTC: LIXXF) in response to recent trading in its shares, the Company is providing an update on the expected completion date (the "Effective Date") of the previously announced plan of arrangement (the "Arrangement") with NextView New Energy Lion Hong Kong Limited ("NextView").
The trading price of the Company's common shares has fallen over 20% in the past day of trading and resulted in a single stock circuit breaker that caused a temporary 5-minute halt in trading this morning.  The Company is not in possession of any undisclosed material information and is not aware of any change that would support this negative market sentiment.
In terms of completion of the Arrangement with NextView, in a conference call Tuesday evening with NextView's personnel, financial advisor and legal counsel, the Company was advised that NextView continues to finalize the debt facilities to provide the remainder of the cash consideration to complete the Arrangement and, if it is not finalized before the end of next week, it will draw-down on its funding commitment from Tibet Summit in order to fund the Arrangement no later than March 9, 2018.  NextView was incorporated under the laws of Hong Kong, S.A.R., with its head office located in Hong Kong. NextView was incorporated by Shanghai NextView Xiangjin Investment Partnership (Limited) ("Shanghai NextView") and Tibet Summit as an acquisition vehicle to complete the Arrangement.
Key executives and other insiders of the Company have indicated that, since they are not currently in possession of any undisclosed material information, they intend to purchase the Company's common shares on the open market if available at prices that they believe represent a significant discount to the consideration payable under the Arrangement.
Additional information regarding the terms of the Arrangement is set out in Lithium X's management information circular dated January 3, 2018, which is filed under the Company's SEDAR profile at www.sedar.com.
On behalf of the Board of Directors of Lithium X
By: "Brian Paes-Braga"
President and CEO, Director