International Lithium Closes First Tranche of Private Placement

International Lithium Closes First Tranche of Private Placement

International Lithium Corp.(TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it closed on March 31, 2025 the first tranche of its non-brokered private placement (the "Offering") of common shares announced on February 5, 2025. On closing, the Company issued 23,666,666 common shares at $0.015 per share for proceeds of $355,000. This takes the total number of shares in issue to 272,403,254.

Proceeds of the private placement will be used primarily for general working capital purposes ahead of the Company's receiving proceeds from its disposal to Ganfeng of ILC's stake in the Irish Avalonia project. The Company anticipates 52% or $183,600 of the private placement proceeds from tranche 1 will be allocated to pay the outstanding fees to non-arm's length creditors. No fees have been payable on the transaction, and the payments to persons conducting Investor Relations Activities shall not exceed 10% of the proceeds.

Closing of the Offering is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.

Five non-arms' length parties participated in this tranche of the private placement: CEO and director John Wisbey, CFO and director Maurice Brooks, COO and director Anthony Kovacs, director Ross Thompson, and director Geoffrey Baker. The issue of shares (to the extent subscribed for by insiders) constitute "related party transactions" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as the subscribers include directors of the Company. The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the shares in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the shares does not exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of insiders of the Company had not been confirmed at that time.

John Wisbey, the Chairman and Chief Executive Officer of the Company, participated in the Offering and acquired 14,680,000 common shares. Mr. Wisbey is a new Control Person pursuant to TSX Venture Exchange policies as he now beneficially and directly owns and controls 64,426,841 common shares of the Company, representing approximately 23.65% of the issued and outstanding Shares on a non-diluted basis. The shareholders of the Company previously approved the creation of John Wisbey as a "Control Person" of the Company at the Annual General and Special Meeting held on December 10, 2018.

About International Lithium Corp.

While the world's politicians are currently divided on the future of the energy market's historic dependence on oil and gas and on "Net Zero", there seems a clear and unstoppable momentum towards electric vehicles and electric battery storage. We have also seen the clear and increasingly urgent wish by the USA and Canada and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect.

Our key mission in the next decade is to make money for our shareholders from lithium and other battery metals and rare metals while at the same time playing our part in creating a greener, cleaner planet and less polluted cities. This includes optimizing the value of our existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world class deposits. We have announced separately that we regard Zimbabwe as an important strategic target market for ILC, and that we have applied for and hope to receive EPOs there. We hope to be able to make announcements over the next few weeks and months.

The Company's interests in various projects now consists of the following, and in addition the Company continues to seek other opportunities:

NameMetalLocationArea
(Hectares)
Current Ownership PercentageFuture Ownership percentage if options exercised or work carried outOperator or JV Partner
Raleigh LakeLithium
Rubidium
Ontario32,900100%100%ILC
FiresteelCopper
Cobalt
Ontario 6,60090%90%ILC
Wolf RidgeLithiumOntario 5,7000%100%ILC
Mavis LakeLithiumOntario 2,6000%0%
(carries an extra earn-in payment of CAD$ 0.7 million if resource targets met)
Critical Resources Ltd (ASX: CRR)
Avalonia*LithiumIreland29,2000%2.0% Net Smelter RoyaltyGanfeng Lithium
Forgan/
Lucky Lakes
LithiumOntario0%1.5% Net Smelter RoyaltyUltra Lithium Inc. (TSXV: ULT)
*Sale not completed yet

 

The Company's primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project and the Firesteel copper project in Canada and on obtaining EPOs and mineral claims in Zimbabwe.

The Raleigh Lake Project now consists of 32,900 hectares (329 square kilometres) of mineral claims in Ontario and is ILC's most significant project in Canada. Drilling has so far been on less than 1,000 hectares of our claims. A Preliminary Economic Assessment (PEA) was published for ILC's lithium at Raleigh Lake in December 2023, with detailed economic analysis of ILC's separate rubidium resource still to come. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free. The project has excellent access to roads, rail and utilities.

A continuing goal has been to remain a well-funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in January 2022, and the Avalonia project in 2024 (sale not completed yet), ILC has achieved sufficient inward cashflow to be able to make progress with its exploration projects.

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 energy sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.

On behalf of the Company,

John Wisbey
Chairman and CEO

www.internationallithium.ca

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 or other releases contain 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 timing of completion of the Offering and the amounts to be raised, effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Firesteel or Wolf Ridge projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or copper recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, budgeted expenditures and planned exploration work on the Company's projects, increased value of shareholder investments, the potential from the company's third party earn-out or royalty arrangements, and assumptions about ethical behaviour by our joint venture partners or third party operators of projects. Such forward-looking information is based on 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, legislative, 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246880

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Developing a Portfolio of Lithium and Rare Metals for the Canadian Battery Supply Chain

International Lithium Announces Extension of Private Placement

International Lithium Announces Extension of Private Placement

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that the Company is extending the closing of its non-brokered private placement financing (the "Offering") to July 9, 2025. The Offering was originally announced on February 5, 2025, and later upsized as announced on May 1, 2025. The upsized Offering is comprised of up to 57,000,000 common shares of the Company at a price of $0.015 per share for gross proceeds of up to $855,000.

On March 31, 2025, the Company closed the first tranche the Offering and issued 23,666,666 common shares at $0.015 per share for proceeds of $355,000. The proposed payments from the first tranche proceeds included $183,600 to pay the outstanding fees to non-arm's length creditors.

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International Lithium Announces Upsize and Extension of Private Placement

International Lithium Announces Upsize and Extension of Private Placement

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it is increasing the size of its non-brokered private placement financing (the "Offering") from $600,000 to $855,000 and extending the closing of the Offering to May 30, 2025. The Offering was originally announced on February 5, 2025. The upsized Offering is comprised of up to 57,000,000 common shares of the Company at a price of $0.015 per share for gross proceeds of up to $855,000.

On March 31, 2025, the Company closed the first tranche the Offering and issued 23,666,666 common shares at $0.015 per share for proceeds of $355,000. The proposed payments from the first tranche proceeds included $183,600 to pay the outstanding fees to non-arm's length creditors.

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International Lithium Corp. Reports Results of 2024 Annual General Meeting

International Lithium Corp. Reports Results of 2024 Annual General Meeting

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that all resolutions proposed at the Company's annual general meeting of shareholders held on September 16, 2024 were passed. All agenda items outlined in the information circular for the meeting were approved and all director nominees were elected, with over 99% of votes cast in favour of all the motions. The directors elected for the ensuing year are John Wisbey, Maurice Brooks, Anthony Kovacs, Ross Thompson, and Geoffrey Baker.

About International Lithium Corp.

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International Lithium Corp. to Receive CAD$2.2m plus a 2% Net Smelter Royalty Following Reduction of Interest in Its Non-Core Avalonia Project

International Lithium Corp. to Receive CAD$2.2m plus a 2% Net Smelter Royalty Following Reduction of Interest in Its Non-Core Avalonia Project

The Board of International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it has signed a variation agreement in respect of its non-core Avalonia project in Ireland, which is a Joint Venture ("JV") with GFL International, Co. Ltd. ("Ganfeng") whereby:

  1. The option period under which Ganfeng has to spend CAD$10m to increase its share in the Avalonia project from 55% to 79% is further extended to 31 December 2025; and
  2. In consideration of a payment schedule from Ganfeng totalling CAD$2.2m between the period of September 2024 and 31 October 2025, and in further consideration of a 2% Net Smelter Royalty to ILC, the JV agreement will be varied such that ILC will reduce its stake in the Avalonia project to nil.

Background
The Avalonia project in Blackstairs, Ireland, has been a JV between ILC and Ganfeng since 2014, and Ganfeng has had management control of the project since 2017. While there were some historic resource estimates, drilling since then has not yet resulted in further resource estimates or an economic analysis.

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International Lithium Completes Purchase of the Highly Prospective Firesteel Copper Project Near Upsala, Ontario and Application for Drilling Permits

International Lithium Completes Purchase of the Highly Prospective Firesteel Copper Project Near Upsala, Ontario and Application for Drilling Permits

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it has completed the purchase of a 90% interest in a highly prospective grass roots copper and cobalt property in Northwestern Ontario (Company news release dated February 20, 2024).

The Firesteel project ("Firesteel" or the "Project" or "Property"), previously referred to as the Honeyjack project, is located less than 10 km directly west of Upsala along Highway 17 and stretches for 16 km to the Firesteel River (Figure 1 and 2).

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SAGA Metals Mobilizes and Commences Summer Work Programs at Recently Drilled 100% Owned Radar Titanium Property in Labrador, Canada & Provides Corporate Update

SAGA Metals Mobilizes and Commences Summer Work Programs at Recently Drilled 100% Owned Radar Titanium Property in Labrador, Canada & Provides Corporate Update

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the mobilization and commencement of its 2025 summer field program at the 100% owned Radar Titanium Property (the "Property") in Labrador, Canada.

Field crews arrived on site on June 17 and have initiated ground-based geophysical surveys targeting future high-priority drill targets. Concurrently, the team is constructing an access trail along the full 20 km strike extent of the Dykes River Intrusion oxide layering zone. Mobilizing drill rigs to the Trapper Zone is a first construction priority (see Figure 1 below).

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Lithium Universe Ltd  Settlement of Tranche 1 Share Placement

Lithium Universe Ltd Settlement of Tranche 1 Share Placement

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce that further to its announcement dated 18 June 2025 (Announcement), it has now settled the first tranche of its placement to sophisticated and professional investors (Tranche 1).

Highlights

- Successful settlement of Tranche 1 of the share placement to sophisticated and professional investors, raising $0.60 million

- Tranche 2 of the placement (subject to shareholder approval) is anticipated to be completed on or around 29 July 2025, raising $1.10 million

Tranche 1 comprised of 150,000,000 fully paid ordinary shares in the capital of the Company (Shares), which have been issued today under the Company's existing capacity under ASX Listing Rule 7.1 (15% capacity). The Shares under Tranche 1 were issued at a price of A$0.004 per Share, raising A$600,000. In addition, subject to shareholder approval, the Tranche 1 investors will be entitled to one new option for every two Shares subscribed for and issued, expiring 36 months from the date of issue of the options, and an exercise price of $0.008 (Options).

Tranche 2 Placement

As detailed within the Announcement, the placement comprises a second tranche of 275,000,000 Shares at an issue price of A$0.004 per Share, subject to shareholder approval (Tranche 2). Investors under the Tranche 2 placement will also receive a free attaching Option on a 1 for 2 basis, subject to shareholder approval.

The Company will seek shareholder approval at an upcoming general meeting, which is scheduled to be held on or around Wednesday, 23 July 2025.

Cleansing for secondary trading

The Company advises that the Shares issued under Tranche 1 have been issued without disclosure under Part 6D.2 of the Act in reliance on sections 708(8) and 708(11) of the Corporations Act 2001 (Cth) (Corporations Act).

In accordance with Section 708A(11) of the Corporations Act 2001, the Company confirms:

- the Shares under Tranche 1 are in a class of securities that are quoted securities;

- the Company lodged a prospectus with the Australian Securities and Investments Commission on 20 June 2025 (Prospectus);

- the Prospectus includes an offer of securities by the Company in the same class as the Shares issued under Tranche 1; and

- the offer under the Prospectus is and was open at the time of issue of the Shares under Tranche 1.

Accordingly, the T1 Placement Shares are eligible for immediate trading without on-sale restrictions.



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

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Fortune Minerals Announces Results of Annual Meeting of Shareholders

Fortune Minerals Announces Results of Annual Meeting of Shareholders

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") ( www.fortuneminerals.com ) reports that the nominees listed in the management information circular for the 2025 Annual Meeting of Shareholders held on June 24, 2025 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

Nominee

Shareholders also approved the re-appointment of McGovern Hurley LLP as the auditor of Fortune. The presentation made at the Annual Meeting is available on the Company's website.

About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper critical minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

Follow Fortune Minerals:
Click here to subscribe to Fortune's email list.

Click here to follow Fortune on LinkedIn.

@FortuneMineral on Twitter.

For further information please contact:
Fortune Minerals Limited  
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

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