Canada Lithium Acquires Lithium Carbonate Offtake Agreement

Canada Lithium Corp. (TSX:CLQ,OTC:CLQMF) announced a five-year lithium carbonate offtake agreement with Tewoo-ERDC for 12,000 tonnes of battery-grade lithium carbonate.

As quoted in the press release:

The five-year agreement also includes a provision for the formation of a Sino-Canadian marketing joint venture (SFJV) to be incorporated as Tewoo Québec Lithium CO., LTD.  The agreement calls for Canada Lithium to deliver lithium carbonate FOB to the Port of Vancouver or Port of Prince Rupert, B.C., beginning March 2013. Tewoo-ERDC is a wholly-owned subsidiary of Tewoo Group, one of the world’s top 500 companies in terms of revenue, according to a Fortune Magazine 2012 ranking.

Click here to read the Canada Lithium Corp. (TSX:CLQ) press release.