International Lithium Grants Stock Options
NEWS RELEASE
International Lithium Grants Stock Options
Vancouver, B.C. June 11, 2019: International Lithium Corp. (the “ Company” or “ ILC”) (TSX
VENTURE: ILC) announces the grant of 4,070,000 stock options (the “Options”) to directors and
officers of the Company. The Options are exercisable at $0.065 per share until May 31, 2024. A
total of 695,000 of the options vest immediately and a total of 3,375,000 vest one year from the
date of grant. This brings the number of outstanding options to 10,705,000, representing a total
of 8.07% of the Company’s outstanding shares.
Following the significant decline in the share price of almost all lithium companies over the last 18
months, the board fully understands that the Company’s investors are keen to see the ILC share
price recover. In order to align management interests further with those of shareholders,
3,375,000 of the newly granted stock options contain a condition that the average closing price of
the Company’s shares on the TSX Venture Exchange must be at least $0.10 for a minimum of 20
consecutive business days before they may be exercised.
About International Lithium Corp.
International Lithium Corp. has a significant portfolio of projects, strong management, and a
strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., (“Ganfeng Lithium”) a leading
China-based lithium product manufacturer.
The Company’s primary strategic focus is now on the Raleigh Lake project in Canada and the
Mariana project in Argentina.
The Raleigh Lake project, consisting of 3,027 hectares of adjoining mineral claims in Ontario, is
now regarded by ILC management as ILC’s most significant project in Canada. It is 100% owned
by ILC, is not subject to any encumbrances, and is royalty free.
The Company has a 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 strategi cally encompasses an entire
mineral rich evaporite basin, totalling 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, owned
84.608% by Ganfeng Lithium and 15.392% by ILC. 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 at Mariana and rare metal pegmatite property
1030 West Georgia Street, Suite 1910
Vancouver, British Columbia
V6E 3V7, Canada
T:+1 604-449-6520
www.internationallithium.com
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at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada
known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in Ireland, which
encompasses an extensive 50-km-long pegmatite belt.
The ownership of the Mavis Lake project is now 51% Pioneer Resources Limited (ASX:PIO,
“Pioneer”) and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. Pioneer has an option
to earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration
activities, at which time the ownership will be 80% Pioneer and 20% ILC.
The Forgan Lake project will, upon Ultra Lithium meeting its contractual requirements pursuant to
its agreement with ILC, become 100% owned by Ultra Lithium (TSXV: ULI), and ILC will retain a
1.5% NSR on Forgan Lake/Georgia Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng
Lithium has an option to earn an additional 24% by either incurring CAD $10 million expenditures
on exploration activities or delivering a positive feasibility study on the project, at which time the
ownership will be 79% Ganfeng Lithium and 21% ILC.
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 tech”, sustainable economy. By positioning itself with solid strategic
partners and projects with signifi cant resource potential, ILC aims to be one of the lithium and
battery metals 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 t hat have the
potential to become world class lithium, 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
www.internationallithium.com
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 contains 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 the
preliminary economic assessment of the Mariana Joint Venture Project, timing of publication of
the PEA technical report, anticipated production rates, the timing and /or anticipated results of
drilling on the Raleigh Lake or Mavis Lake projects, the expectation of feasibility studies, lithium
recoveries, modeling of capital and operating costs, results of studies utilizing membrane
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technology at the Mariana Project, budgeted expenditures and planned exploration work on the
Avalonia J oint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake,
satisfactory completion of the purchase of additional mineral rights at Raleigh Lake, increased
value of shareholder investments, 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 li mited 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 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.