Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that further to its news releases dated March 28, 2023, July 13, 2023, and November 28, 2023, it has entered into an arrangement agreement dated December 6, 2023 (the "Arrangement Agreement") with its wholly-owned subsidiary, Edison Cobalt Corp. ("SpinCo"), pursuant to which, among other things, a distribution of the common shares of SpinCo will take place with the result that the shareholders of the Company will (other than any dissenting shareholders) also become shareholders of SpinCo by way of a statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Arrangement").