Aug 20 (Reuters) - Spirit Banner Capital Corp SBCCp.V :
* SPIRIT BANNER AND ION ENERGY ANNOUNCE SIGNING OF DEFINITIVE AGREEMENT
* SPIRIT BANNER WILL ACQUIRE ALL OF OUTSTANDING AND ISSUED ION ENERGY COMMON SHARES
* DEEMED ISSUE PRICE PER RESULTING ISSUER SHARE TO BE ISSUED TO ION ENERGY SHAREHOLDERS IS $0.20 PER RESULTING ISSUER SHARE
* UPON COMPLETION OF BUSINESS COMBINATION, SPIRIT BANNER WILL CHANGE ITS NAME TO "ION ENERGY LTD"