International Lithium Closes First Tranche of $1,000,000 Private Placement
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DISSEMINATION IN THE UNITED STATES
International Lithium Closes First Tranche of $1,000,000
Private Placement
Vancouver, B.C. January 25, 2018: International Lithium Corp. (the “Company” or “ILC”) (TSX
VENTURE: ILC) announces that it has closed the first tranche of the previously announced non-
brokered private placement (see Company news release December 29, 2017) of up to
5,000,000 units (the “Units”) at $0.20 per Unit to raise proceeds of up to $1,000,000. On closing
of the first tranche of $450,000, the Company issued 2,250,000 Units, each Unit comprising one
share and one-half of a share purchase warrant exercisable at $0.30 per share until 24 months
from closing.
Three non-arms’ length part ies participated in the private placement for total subscriptions of
$300,000: significant shareholder of the Company, TNR Gold Corp. (“TNR”), Executive
Chairman, Kirill Klip, and Deputy Chairman, John Wisbey.
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 plus one
day from the date of closing.
The issuance of priv ate placement securities to non-arms’ length part ies constitutes related-
party transactions under under Multilateral Instrument 61 -101 - Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). Because the Company’s shares trade only on
the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation
requirements of Section 5.4 of MI 61 -101 pursuant to Subsection 5.5(b) of MI 61 -101 and
exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Section
5.7(b). The post -closing ownership in ILC by TNR, before conversion of the debenture , is
8,692,390 shares, equivalent to approximately 9.19% of the outstanding common shares of the
Company. Sho uld the convertible debenture and warrants held by TNR be exercised, its
holdings would be 14,042,390 shares, equivalent to approximately 14.1% of the issued common
shares. The Company did not file a material change report 21 days prior to the closing of t he
private placement as the details of the participation of insiders of the Company had not been
confirmed at that time.
About International Lithium Corp.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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International Lithium Corp. has a significant portfolio of projects, strong management,
robust financial support, and a strategic partner and keystone investor, Jiangxi Ganfeng
Lithium Co. Ltd., (“Ganfeng Lithium”) 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, totaling 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 ventur e company, Litio Minera
Argentina S. A., a private company registered in Argentina, ownership of which will be
revised to 82.754% by Ganfeng Lithium and 17.246% by ILC in early 2018 in order to
reflect each party’s current JV interest . 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 ownership of the Avalonia project is currently 55% GFL and 45% ILC. GFL have an
option to earn an additional 24% by either incurring CDN$10 million expenditures on
exploration activities or delivering a positive feasibility study on the project, at which
time the ownership will be 79% GFL and 21% ILC.
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
Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with
previously repor ted 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
www.internationallithium.com
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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 or
forward-looking statements in this news release may include: the timi ng and anticipated results
of drilling on the Mavis Lake Project, the expectation of feasibility studies, lithium recoveries,
modeling of capital and operating costs, results of studies utilizing membrane technology at the
Mariana Project, budgeted expenditures and planned exploration work on the Avalonia JV, and
continued agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the
Company’s percentage interest in the Mariana project. 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 “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 expec tations, 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 and competitive
uncertainties and contingencies. Thes e 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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an ex emption
from such registration is available.