Vancouver, B.C. October 28, 2015: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC.V) announces that it has granted to directors, officers and consultants of the Company stock options (the “Options”) to purchase a total of 1,400,000 common shares at a price of $0.06 per common share. The Options are exercisable for a period of 5 years and have been granted in accordance with the terms of the Company’s current stock option plan. The options are subject to a four month hold period.
The Company also announces that it has repriced stock options that at the time of the grant to directors, officers and consultants authorized the purchase of:
- 3,025,000 common shares at a price of $0.25 per share until November 30, 2016;
- 3,075,000 common shares at a price of $0.10 per share until January 8, 2018; and
- 75,000 common shares at a price of $0.10 per share until January 22, 2018.
All of the foregoing options have been repriced to $0.06 per share, subject to the acceptance of the TSX Venture Exchange and approval of the Company’s disinterested shareholders, which vote will be held at the Company’s next annual general meeting of shareholders. Details of the repricings will be disclosed in the Company’s information circular for such future meeting, in accordance with TSX Venture Exchange policies.
About International Lithium Corp.
ILC is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor GFL International, a fully owned subsidiary of Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
The Company’s primary focus is the Mariana lithium-potash brine project, within the renowned South American “Lithium Belt” that is the host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporate basin that ranks as one of the more prospective salars or ‘salt lakes’ in the region.
Complementing the Company’s lithium brine project are rare metals pegmatite properties in Canada and Ireland. These projects reported highly encouraging lithium mineralization in drill holes targeting pegmatites that are unexposed at surface (news releases dated April 3, 2013 and June 25, 2013).
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” economy. By positioning itself with solid development partners and acquiring high quality grass roots projects at an early stage of exploration, ILC aims to be the green tech resource explorer of choice for investors and build value for its shareholders.
On behalf of the Board of Directors,
President, International Lithium Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.