Strategic Partner Ganfeng Lithium to Increase Equity Ownership in International Lithium

International Lithium (TSXV:ILC.V) has announced that Jiangxi Ganfeng Lithium, a China-based multi-product lithium manufacturer will increase, through a third party share purchase agreement with TNR Gold, its equity stake in International Lithium to 18.1 percent on a non-diluted basis.
As quoted in the press release:

Key Highlights:

• Strategic Partner Ganfeng Lithium increases ownership in ILC to 18.1%;
• US12 million budget at Mariana lithium brine project aggressively implemented with maiden resource drilling nearing completion and pump tests commencing in the New Year.
• The Company is working with Ganfeng Lithium to secure an effective long-term exploration and development plan for Avalonia, Ireland.

“I am very pleased that Ganfeng Lithium is reinforcing its strategic stake in International Lithium. Ganfeng is a worldwide leader in lithium materials production based in China. They provide not only the capital to advance our joint venture projects in Argentina and Ireland, but technology to facilitate potential production to their particular needs as a lithium end-user. Ganfeng holds 19 patents and is the only company producing lithium chemicals both from brine and hard rock spodumene sources” states Kirill Klip, President of the Company.

Click here to read the full press release.