International Lithium Announces Warrants Extension
International Lithium Announces Warrants
Extension
Vancouver, British Columbia--(Newsfile Corp. - February 2, 2024) - International Lithium Corp. (TSXV:
ILC) (OTCQB: ILHMF) (FSE: IAH) (the "
Company
" or "
ILC
") announces that it intends, subject to TSX
Venture Exchange approval, to extend the term of 25,121,583 warrants expiring on February 29, 2024
for a period of two years. The share purchase warrants were issued pursuant to a private placement of
54,545,455 units accepted for filing by the TSXV on April 5, 2021. Following the extension, 12,571,073
warrants will expire on February 3, 2026, and 12,550,510 warrants will expire on February 19, 2026. The
exercise price remains unchanged at $0.08.
About International Lithium Corp.
International Lithium Corp. believes that the world faces a significant turning point in the energy market's
dependence on oil and gas and in the governmental and public view of climate change. In addition, we
have seen the clear and increasingly urgent wish by the USA and Canada to safeguard their supplies of
critical battery metals and to become more self-sufficient. Our Canadian projects are strategic in that
respect.
Our key mission in the next decade is to make money for our shareholders from lithium and rare metals
while at the same time helping to create a greener, cleaner planet and less polluted cities. This includes
optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and
developing projects that have the potential to become world class lithium and rare metal deposits. We
have announced separately that we regard Zimbabwe as an important strategic target market for ILC,
and we hope to be able to make announcements over the next few weeks and months.
A key goal has been to become a well-funded company to turn our aspirations into reality, and following
the disposal of the Mariana project in Argentina in 2021 and the Mavis Lake project in Canada in
January 2022, the Board of the Company considers that ILC is now well placed in that respect with a
strong net cash position.
The Company's interests in various projects now consists of the following, and in addition the Company
continues to seek other opportunities:
Name
Location
Area (Hectares)
Current Ownership
Percentage
Future Ownership
percentage if options
exercised or work
carried out
Operator or JV Partner
Raleigh Lake
Ontario
48,500
100%
100%
ILC
Wolf Ridge
Ontario
5,700
0%
100%
ILC
Avalonia
Ireland
29,200
45%
21%
Ganfeng Lithium
Mavis Lake
Ontario
2,600
0%
0%
(carries an extra earn-in
payment of CAD $0.7
million if resource targets
met)
Critical Resources Ltd
(ASX:CRR)
Forgan Lake & Lucky
Lake
Ontario
< 500
0%
1.5% Net Smelter
Royalty
Ultra Lithium Inc.
(TSXV:ULT)
The Company's primary strategic focus at this point is on the Raleigh Lake Project's lithium and rubidium
project in Canada and on identifying additional properties in Canada and Zimbabwe.
The Raleigh Lake Project consists of 48,500 hectares (485 square kilometres) of mineral claims in
Ontario and is ILC's most significant project in Canada. Drilling has so far been on less than 1,000
hectares of our claims. The exploration results there so far, which are on only about 8% of ILC's current
claims, have shown significant quantities of rubidium and caesium in the pegmatite as well as lithium.
Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical
storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a
green energy sustainable economy. By positioning itself with projects with significant resource potential
and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers
of choice for investors and to continue to build value for its shareholders in the '20s, the decade of
battery metals.
On behalf of the Company,
John Wisbey
Chairman and CEO
www.internationallithium.ca
For further information concerning this news release please contact +1 604-449-6520
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 or other releases contain certain "forward-
looking information" within the meaning of applicable securities law. Forward-looking information or
forward-looking statements in this or other news releases may include: the effect of results of
anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or
Wolf Ridge or Avalonia projects, the expectation of resource estimates, preliminary economic
assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital and
operating costs, results of studies utilizing various technologies at the company's projects, budgeted
expenditures and planned exploration work on the Company's projects, increased value of
shareholder investments, and assumptions about ethical behaviour by our joint venture partners or
third party operators of projects. Such forward-looking information is based on assumptions and
subject to a variety of risks and uncertainties, including but not limited to those discussed in the
sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's
Discussion and Analysis which are available at
www.sedar.com
. While management believes that the
assumptions made are reasonable, there can be no assurance that forward-looking statements will
prove to be accurate. 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 expectations, estimates and opinions of
management on the dates they are made that, while considered reasonable by the Company as of the
time of such statements, are subject to significant business, economic, legislative, and competitive
uncertainties and contingencies. These estimates and assumptions may prove to be incorrect 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/196758