Wednesday, 3 May 2017

International Lithium Increases Private Placement Of Convertible Securities To $1,000,000.


"Two insiders of the Company participated in this tranche of the private placement and subscribed for a face value of $300,000 in convertible securities. Participation by the two insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions."


International Lithium Announces Close Of First Tranche Of Private Placement Of Convertible Securities.


"Two insiders of the Company participated in the private placement and subscribed for a face value of $100,000 in convertible securities. Participation by the two insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions." Read more.


LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

You can find all latest financial information in ILC's SEDAR filings and insiders filings on SEDI.



International Lithium And Ganfeng Mariana Lithium JV Exploration Target And Indicated Resource Of 1.25 M T of LCE.







Kirill Klip, Executive Chairman of ILC stated, "We are very pleased with the results of the maiden resource estimation at the Mariana lithium potash brine project, together with our strategic partner Ganfeng Lithium. This project is now moving from an early exploration stage to an advanced exploration stage where it will be more easily compared to other lithium brine projects in Argentina. We are looking forward to follow up with Ganfeng Lithium on the recommendations of this report in order to ensure the rapid advancement of the project towards the pilot stage and to conduct further feasibility studies that will investigate the economic viability of the Mariana project."



LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.






International Lithium Announces Multiple High-Grade Lithium Pegmatites Intersected at Mavis Lake Project, Ontario, Canada




“We are very pleased with the results Pioneer have achieved at Mavis and look forward to continued exploration success,” stated Kirill Klip, CEO of ILC. “Our concept of the Upper Canada Lithium Pool is moving forward and ILC has another lithium project in its portfolio moving toward a more advanced exploration stage. This success supports our strategy utilizing strategic partnerships to advance projects with the ultimate goal to secure lithium supply for the ongoing electrification of our transportation and energy storage applications.”






International Lithium:

International Lithium Increases Private Placement of Convertible Securities to $1,000,000

Vancouver, B.C. May 1, 2017: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC) is pleased to announce that due to demand, it has increased its previously announced non-brokered private placement (the “Private Placement”) of convertible securities up to a face value of $1,000,000. The securities will be issued pursuant to a convertible loan bearing interest at the rate of 15% per annum, payable quarterly, with a maturity date of one year from the date of advance. The lenders may convert at any time, all or a portion of the convertible loan principal into common shares of the Company at a price of $0.14 per common share. The Company has the right to repay the convertible loan, at any time after three months from the date of advance.
The proceeds of the Private Placement will be used for general working capital purposes.  All Private Placement securities will be restricted from trading for a period of four months and one day from closing. The convertible loan will be secured by a general security agreement against the Company’s assets.
The Company has already closed two tranches of the Private Placement for proceeds of $525,000, and expects to close further tranches later this month.
International Lithium Corp. has a significant portfolio of projects, strong management, robust financial support, and a strategic partner and keystone investor, Ganfeng Lithium Co. Ltd., a leading China-based lithium product manufacturer.
The Company’s primary focus is the strategic stake in the Mariana lithium-potash brine project located within the renowned South American “Lithium Belt” that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project,  strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres, that ranks as one of the more prospective salars or ‘salt lakes’ in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, owned 80% by Ganfeng Lithium Co. Ltd. (“GFL”), and 20% by ILC. In addition, ILC has an option to acquire 10% in the Mariana project through a back-in right.
Complementing the Company’s lithium brine project are three rare metals pegmatite properties in Canada known as the Mavis, Raleigh, and Forgan projects, and the Avalonia project in Ireland, which encompasses an extensive 50km-long pegmatite belt.  The Avalonia project is under option to strategic partner GFL, that currently owns 55% of the project. The Mavis and Raleigh projects are under option to strategic partner Pioneer Resources Limited (ASX:PIO) pursuant to which Pioneer can acquire up to a 51% interest in the projects.
The Mavis, Raleigh and Forgan projects together form the basis of the Company’s newly created Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to existing infrastructure.
With the increasing demand for high tech rechargeable batteries used in vehicle propulsion technologies and portable electronics, lithium is paramount to tomorrow’s “green-tech”, sustainable economy. By positioning itself with solid strategic partners and acquiring high quality assets for the Energy rEVolution supply chain, ILC aims to be the partner of choice for investors in green-tech and to continue to build value for its shareholders.
On behalf of the Board of Directors, 
Kirill Klip
Executive Chairman 
For further information concerning this news release please contact +1 604-700-8912
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Forward-Looking Statements” in the interim and annual Management’s Discussion and Analysis which are available at www.sedar.com. While our management believes that the assumptions made are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.