International Lithium Closes Private Placement
NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
International Lithium Closes Private Placement
Vancouver, B.C. March 9, 2018: International Lithium Corp. (the “ Company” or “ ILC”) (TSX
VENTURE: ILC) announces that it has closed the previously announced non-brokered private
placement (see Company news release s of December 29, 2017 and January 25, 2018 ) for
proceeds of $450,000. On closing, the Company issued a total of 2,250,000 units, each unit
comprising one share and one-half of a share purchase warrant exercisable at $0.30 per whole
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 Director, 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 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 i n ILC by TNR, before conversion of warrants and debentures, is
8,187,890 shares, equivalent to approximately 8.7% of the outstanding common shares of the
Company. Should the convertible debenture and warrants held by TNR be exercised, its
holdings would be 13,537,890 shares, equivalent to approximately 13.6% of the issued common
shares. The Company did not file a material change report 21 days prior to the closing of the
private placement as the details of the participation of insiders of the Company had not been
confirmed at that time.
About International Lithium Corp.
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.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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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
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
www.internationallithium.com
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
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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.