Filing Responds to Second Round of SEC Comments; 

Proposed Nasdaq Listing of US Elemental Under Ticker "ULIT" Remains on Track for Q4 2026

NEW YORK, Sept. 21, 2026 (GLOBE NEWSWIRE) -- HiTech Minerals Inc. ("HiTech Minerals"), a wholly owned subsidiary of Jindalee Lithium Limited ("Jindalee") ((ASX: JLL, OTCQX:JNDAF), and Constellation Acquisition Corp I ("Constellation") (OTCPK: CSTAF), a special purpose acquisition company sponsored by affiliates of Antarctica Capital, LLC ("Antarctica"), today announced the filing with the U.S. Securities and Exchange Commission (the "SEC") of a third amended registration statement on Form S-4 (the "Third Amended Registration Statement" or the "Registration Statement") in connection with their proposed business combination (the "Transaction"), which is expected to result in US Elemental Inc. ("US Elemental" or the "Company") becoming a Nasdaq-listed U.S. lithium development company under the ticker symbol "ULIT".

The Third Amended Registration Statement responds to a second round of SEC comments received in early September 2026. The Form S-4, initially filed on June 2, 2026 and subsequently amended on June 26, 2026 and August 12, 2026, will serve as the registration statement and proxy statement/prospectus for the Transaction. It contains information regarding US Elemental, the Transaction, financial statements, risk factors and the technical report for the McDermitt Lithium Project.

Subject to the SEC’s continuing review, the parties currently anticipate that the Form S-4 could be declared effective in late September or October 2026. Effectiveness of the Form S-4 is a critical condition to completion of the Transaction: it must be declared effective before Constellation may convene its shareholder meeting to consider the Transaction and the Transaction may proceed to closing.