Vancouver, British Columbia--(Newsfile Corp. - February 1, 2019) - International Lithium Corp. (TSXV: ILC) (the "Company"
or "ILC") is pleased to announce that it intends to complete a non-brokered private placement (the "FT Private
Placement") of up to 15,384,615 flow-through shares (the "FT Shares") of the Company at a price of $0.065 per FT Share
for total gross proceeds of up to $1,000,000.
The FT Shares will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) (the "Act").
The proceeds of the FT Private Placement will be used to incur "Canadian exploration expenses" (within the meaning of the Act). The
Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2019, and as required
under the Act.
In connection with the FT Private Placement, the Company may pay finder's fees in cash or securities or a combination of both,
as permitted by the policies of the TSX Venture Exchange.
The proceeds will be used for exploration on the Company's Canadian Raleigh Lake rare metals project located in Ontario.
Closing of the FT Private Placement is subject to approval of the TSX Venture Exchange ("TSXV"). Any shares issued on
closing will be subject to a trading hold period expiring four months plus one day from the date of issue.
Closing Extension of Unit Private Placement
The Company is also pleased to announce that the final closing of the non-brokered private placement (the "Unit Private
Placement") of up to 50,000,000 units (the "Units") at $0.05 per Unit announced on December 11, 2018 has been extended
until February 28, 2019. Each Unit will consist of one common share of the Company and one-half of a transferable common share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one common share at an exercise
price of $0.10 per share for two years from issue. Please refer to the December 11, 2018 news release for further details of the
Unit Private Placement.
This announcement is made in accordance with TSXV rules to ensure price protection, and should not be read as implying that the
relevant securities have yet been sold.
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 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 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.
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 ("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, and ILC will retain a 1.5% NSR on Forgan 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 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
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 technology at the Mariana Project, budgeted expenditures and planned exploration work on the Avalonia Joint
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 limited 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.
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