Vision Lithium Increases Non-Brokered Private Placement to up to $2,500,000 with Concurrent Flow-Through Share Offering

VAL-D'OR, Dec. 17, 2020 - Vision Lithium Inc. (TSXV: VLI) (OTC PINK: ABEPF) (the "Company" or "Vision Lithium") is pleased to announce that it is amending its non-brokered private placement of units for aggregate gross proceeds of up to $2,000,000 previously announced on November 18, 2020 (the "Unit Offering") to include a concurrent private placement of up to 10,000,000 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec)) (the "Flow-Through Shares") at a price of $0.05 per Flow-Through Share for additional gross proceeds of up $500,000 (the "FT Offering") and, together with the Unit Offering, representing aggregate gross proceeds of up to $2,500,000 (the "Offering").

The gross proceeds from the FT Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in Quebec. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2020.

The Company may pay finders' fees in connection with the Offering in cash, shares, warrants or a combination thereof. All securities to be issued under the Offering will be subject to a hold period of four months and one day from their date of issuance. The Offering remains subject to the approval of the TSX Venture Exchange.

The offered securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Vision Lithium Inc.

Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality mineral assets including gold, copper and lithium in safe jurisdictions, primarily in Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals. Vision Lithium is committed to discovering new world class assets and bringing these assets to production, starting with the Dôme Lemieux copper-zinc property in Quebec's Gaspé region, its polymetallic properties in New Brunswick, and the Sirmac lithium property located in Northern Quebec.

For further information on the Company, please visit our website at www.visionlithium.com or contact us at info@visionlithium.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Company, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; the tax treatment of the Flow-Through Shares; the timing of the tax renunciation to the subscribers, objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

SOURCE Vision Lithium Inc.



Contact
regarding the Offering, please contact: Victor Cantore, Executive Chairman, Tel: 514-831-3809, Email: vcantore@visionlithium.com; Yves Rougerie, President and Chief Executive Officer, Tel: 819-874-6200, Email: yrougerie@visionlithium.com