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International Lithium Corp. (V.ILC) says strategic partner takes bigger stake in Argentina project,

Stockhouse Editorial
0 Comments| April 4, 2014

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International Lithium Corp. (TSX: V.ILC, Stock Forum) said Friday that its strategic partner GFL International Co. Ltd. has won shareholders approval for a loan conversion and investment agreement that was announced by the company on March 19, 2014.

The agreement gives GFL an increased ownership in the Mariana lithium brine project in Argentina in exchange for work commitments and the cancellation of approximately US$3.3 million in loans, plus interest, International Lithium Corp. said in a press release.

Lithium shares were unchanged at 3.5 cents on Friday.

Zimtu Capital Corp. (TSX: V.ZC, Stock Forum) rose 3.3% to 62 cents after the company said it has engaged Secutor Capital Management Corp. as lead agent in connection with a private placement of four million units, priced a $0.50 per unit, for gross proceeds of $2 million.

“The proceeds of the private placement will be used for prospect generation, company building and general working capital,’’ Zimtu said in a press release.



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