By accessing our website, whether or not you download any content, you are deemed to have read the Caution About Forward-Looking Statements section found hereinbelow.

Caution About Forward-Looking Statements

Certain information that you will find in our website are forward-looking, including in our PEA, in the Lithium Overview section and with respect to the obtention of the required permits and the schedule for completion of our on-going Feasibility Study. As such, they are subject to important risks, uncertainties and assumptions which may render the actual future results or events materially different from the expectations expressed or implied in such forward-looking information. All information that is not an historical fact may be forward-looking. You should not rely on forward-looking information. Forward-looking information are made as at a specific date and may consequently change after such date. Subject to applicable laws, we do not undertake to update forward-looking information for any reason. 

Non-IFRS and Other Financial Measures

Our website may contain non-IFRS financial measures and non-IFRS financial ratios. We are of the opinion that these measures provide additional insight, but they are not standardized financial measures prescribed under IFRS and therefore should not be confused with, or used as an alternative for, performance measures calculated according to IFRS. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers.

The non-IFRS financial measures and non-IFRS financial ratios that may be contained on our website and common to the mining industry are defined below:

EBITDA and EBITDA by revenues: EBITDA is a non-IFRS financial measure which is comprised of net income or loss from operations before income taxes, finance expense – net, depreciation and amortization. EBITDA by revenues is a non-IFRS financial ratio which is calculated as EBITDA divided by anticipated revenues. We use these measures to show anticipated operating performance, by eliminating the impact of non-operational or non-cash items.

Cash operating costs at site and cash operating costs at site per tonne: Cash operating costs at site is a non-IFRS financial measure which includes mining, processing, and site administration. Cash operating costs at site per tonne is a non-IFRS financial ratio which is calculated as cash operating costs at site divided by anticipated production expressed in tonnes. These measures capture the important components of our anticipated production and related costs and are used to indicate anticipated cost performance of our operations.

Total cash operating costs (FOB Bécancour) and total cash operating costs per tonne (FOB Bécancour): Total cash operating costs (FOB Bécancour) is a non-IFRS financial measure which includes mining, processing, site administration, and product transportation to Bécancour. Total cash operating costs (FOB Bécancour) per tonne is a non-IFRS financial ratio which is calculated as total cash operating costs (FOB Bécancour) divided by anticipated production expressed in tonnes. These measures capture the important components of our anticipated production and related costs and are used to indicate anticipated cost performance of our operations.

All-in sustaining cost (AISC) and AISC per tonne: All-in sustaining cost is a non-IFRS financial measure which includes mining, processing, site administration, and product transportation to Bécancour and sustaining capital. All-in sustaining cost per tonne of spodumene concentrate is a non-IFRS financial ratio which is calculated as all-in sustaining cost divided by anticipated production expressed in tonnes. These measures capture the important components of our anticipated production and related costs and are used to indicate anticipated cost performance of our operations.

Free cash flow: Free cash flow is a non-IFRS financial measure defined as cash provided from operating activities, less cash outlays for capital, and taxes. We use this measure to measure our anticipated cash flow.

We do not currently have operations, and therefore do not have historical equivalent measures to compare. Accordingly, we cannot perform a reconciliation with historical measures.

Trademarks

Innova Lithium is a trademark of Innova Lithium Inc.