TIDMILC
International Lithium Corporation
11 September 2018
11 September 2018
International Lithium Corporation (TSXV:ILC)
International Lithium Appoints Investor Relations Director
International Lithium Corp. (the "Company" or "ILC") (TSX
VENTURE: ILC) announces that it has appointed Dr. Yana O'Sullivan
as Investor Relations Director. Her responsibilities will include
capital markets activity and strategy generally, communications,
and assisting the Company with its objective of growing and
diversifying its shareholder base in Europe and specifically in the
United Kingdom. Initially Dr. O'Sullivan's appointment is for a
minimum period of four months, but the Company has reserved the
right to extend this appointment should the business need
arise.
Dr. O'Sullivan is a senior capital markets professional based in
London, United Kingdom, with over eight years of Investor Relations
experience gained at Standard Chartered Bank and then at Friends
Life Group, where she led the Investor Relations function. Most
recently she managed investment fund distribution through Aviva
insurance channel as Director of Distribution Partnerships at Aviva
Investors. Dr. O'Sullivan holds an Executive MBA from London
Business School and a PhD in English from the University of
Exeter.
Commenting on this appointment, John Wisbey, Chairman and CEO
said:
"Since March 2018, when I took over my role as CEO of ILC, we
have raised just under CAD$ 3 million in financings. This is the
largest amount of money that ILC has raised since its IPO in May
2011. Given the lack of revenue before our properties go into
production, and our wish to continue to fund the Mariana lithium
project and some drilling to validate the Raleigh Lake project,
further funding will be required to improve our liquidity. To
ensure we stay ahead of the funding curve and achieve the goal of
diversifying our shareholder base, I welcome the appointment of
Yana O'Sullivan to help us take additional steps in the next few
months to help lay a foundation for our capital market growth and
to target new investors in the United Kingdom and the rest of
Europe."
Dr. O'Sullivan holds no interest, directly or indirectly, in the
Company or its securities, or any right or intent to acquire such
an interest. She will receive fixed cash compensation from the
Company in line with the market rates for senior Investor Relations
consultants in the United Kingdom.
Enquiries:
Investors and Analysts:
International Lithium Corporation
John Wisbey, CEO johnwisbey@internationallithium.com
+44 (0)7468 483400
Dr. Yana O'Sullivan, Director of IR yanaosullivan@internationallithium.com
+44 (0)20 7550 4725
Media:
Yellow Jersey internationallithium@yellowjerseypr.com
Tim Thompson
Joe Burgess +44 (0)7710 718 649
Notes to Editors:
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 Mariana
project in Argentina and on the Raleigh Lake project in Canada.
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
strategically 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
82.754% by Ganfeng Lithium and 17.246% by ILC. In addition, ILC has
an option to acquire 10% in the Mariana project through a back-in
right.
The Raleigh Lake project, now consisting of 1,976 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.
Complementing the Company's lithium brine project at Mariana and
rare metal pegmatite property 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.
The ownership of the Avalonia project is currently 55% Ganfeng
Lithum 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
Lithum 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
significant 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 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
www.internationallithium.com
For further information concerning this news release please
contact +1 604-449-6520
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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