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International Lithium Corp
Symbol ILC
Shares Issued 248,586,588
Close 2024-02-02 C$ 0.03
Market Cap C$ 7,457,598
Recent Sedar Documents

International Lithium extends 25.12 million warrants

2024-02-02 19:39 ET - News Release

Mr. John Wisbey reports

INTERNATIONAL LITHIUM ANNOUNCES WARRANTS EXTENSION

International Lithium Corp. intends, subject to TSX Venture Exchange approval, to extend the term of 25,121,583 warrants expiring on Feb. 29, 2024, for a period of two years. The share purchase warrants were issued pursuant to a private placement of 54,545,455 units accepted for filing by the TSX-V on April 5, 2021. Following the extension, 12,571,073 warrants will expire on Feb. 3, 2026, and 12,550,510 warrants will expire on Feb. 19, 2026. The exercise price remains unchanged at eight cents.

About International Lithium Corp.

International Lithium believes that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. In addition, it has seen the clear and increasingly urgent wish by the United States and Canada to safeguard their supplies of critical battery metals and to become more self-sufficient. Its Canadian projects are strategic in that respect.

Its key mission in the next decade is to make money for its shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet and less polluted cities. This includes optimizing the value of its existing projects in Canada and Ireland, as well as finding, exploring and developing projects that have the potential to become world-class lithium and rare metal deposits. It has announced separately that it regards Zimbabwe as an important strategic target market for International Lithium, and it hopes to be able to make announcements over the next few weeks and months.

A key goal has been to become a well-financed company to turn its aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021 and the Mavis Lake project in Canada in January, 2022, the board of the company considers that International Lithium is well placed in that respect with a strong net cash position.

The company's interests in various projects consist of those in the attached table, and the company continues to seek other opportunities.

The company's primary strategic focus at this point is on the Raleigh Lake project's lithium and rubidium project in Canada and on identifying additional properties in Canada and Zimbabwe.

The Raleigh Lake project consists of 48,500 hectares (485 square kilometres) of mineral claims in Ontario and is International Lithium's most significant project in Canada. Drilling has so far been on fewer than 1,000 hectares of its claims. The exploration results there so far, which are on only about 8 per cent of International Lithium's current claims, have shown significant quantities of rubidium and cesium in the pegmatite, as well as lithium. Raleigh Lake is 100 per cent owned by International Lithium, is not subject to any encumbrances and is royalty free.

With the increasing demand for high-technology 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 energy sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, International Lithium aims to be one of the lithium and rare metal resource developers of choice for investors and to continue to build value for its shareholders in the twenties, the decade of battery metals.

We seek Safe Harbor.

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