International Lithium Extends Closing of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
NEWS RELEASE
International Lithium Extends Closing of Private
Placement
Vancouver, B.C. June 27, 2018: International Lithium Corp. (the “ Company” or “ILC”)
(TSX VENTURE: ILC) announces that it has extended the period of time to July 16, 2018, for
closing the final tranche of the non-brokered private placement (the “ Private Placement”) of
secured convertible debentures (the “Debentures”) announced on April 18, 2018. The Private
Placement is in the principal amount of up to $ 1,800,000. The Debentures will mature on June
30, 2019 and bear interest at a rate of 15% per annum, payable quarterly.
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. Curren t 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 par ty’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.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-449-6520
www.internationallithium.com
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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 tom orrow’s “green tech”,
sustainable economy. By positioning itself with solid strategic partners 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 Board of Directors,
John Wisbey
Chairman and CEO
www.internationallithium.com
For further information, 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 include: continued
agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the
Company’s percentage interest in the Mariana project , the success of raising funds for
the Company to continue to operate, and the Company’s ability to maintain its
ownership interest in its assets. 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
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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 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.