International Lithium Closes Second Tranche of CAD$1,800,000 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
NEWS RELEASE
International Lithium Closes Second Tranche of
CAD$1,800,000 Private Placement
Vancouver, B.C. June 15, 2018: International Lithium Corp. (the “ Company” or “ ILC”) (TSX
VENTURE: ILC) , announces that it has closed the second tranche of previous ly announced
CAD$1,800,000 non-brokered private placement (the “ Private Placement ”) of secured
convertible debentures (the “Debentures”) to raise proceeds of CAD$900,000. This brings the
total funds raised for this private placement to CAD$1,175,000. The Company expects a further
final tranche closing.
The Debentures will mature on June 30, 2019 and bear interest at a rate of 15% per annum,
payable quarterly. The debentureholders may convert at any time, all or a portion of the
convertible loan principal into common shares of the Company at a price of $0.085 per common
share.
The Debenture will be secured by a general security agreement against the Company’s assets .
All private placement securities will be restricted from trading for a period of four months and one
day from closing. The Company has the right to give notice of repayment of the convertible
debenture, at any time after three months from the date of advance , although in this event the
debenture holder has the right to convert into shares rather than receiving repayment.
CEO John Wisbey commented, ”The board’s and my first priority when I took over as CEO on
March 14 was to bring ILC’s accounts payable and commitments up to date. This was achieved
with issuance of the CAD$1,180,000 2018 Series 1 convertible debentures and with the first
closing of CAD$275,000 of the 2018 Series 2 convertible debentures. Now we have closed a
further CAD$900,000 and in addition we already have further commitments for $235,000 of the
final tranche which if honoured will bring the total in the Series 2 convertible debenture to
CAD$1,410,000 out of CAD$1,800,000. This achieves my short -term goal of getting ILC ahead
of the funding curve, and of course the aim now is to stay there. We hope that the confidence that
new investors have had in the Company will be rewarded in due course thanks to this improved
position.”
Directors and officers of the Company participated in CAD$212,500 of the Private Placement.
The issuance of priv ate placement securities to non-arms’ length part ies constitutes a related-
party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions (“MI 61 -101”). Because the Company’s shares trade only on th e TSX
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-449-6520
www.internationallithium.com
2
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 pursua nt to Section 5.7(b). The
Company did not file a material change report 21 days prior to the closing of the private placement
because the Company wished to complete the Private Placement in a timely manner.
About International Lithium Corp.
International Lithium Corp. has a significant portfolio of projects, strong management, 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 venture company, Litio Minera Argentina S. A., a private company registered in
Argentina, ownership of which will be revised shortly to 82.754% by Ganfeng Lithium and
17.246% by ILC 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 partne rs and projects with
significant resource potential, ILC aims to be one of the green tech resource developers of choice
for investors and to continue to build value for its shareholders.
International Lithium Corp. ’s mission is to find, explore and develop projects that have the
potential to become world-class lithium, potash and rare metal deposits. A key goal is to become
a well funded company to turn that aspiration into reality.
On behalf of the Company,
John Wisbey
Chairman and CEO
3
www.internationallithium.com
For further information concerning this news release please contact the Company at +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 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 timing and anticipated results of
drilling on the M avis 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 Avalo nia 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 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 signi ficant business, economic 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.
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 exemption from such
registration is available.