Ganfeng Lithium Co. Ltd. Advances Partnership with International Lithium Corp. on The Blackstairs Lithium Project, Ireland

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[{"type":"text","content":"Ganfeng Lithium Co. Ltd. Advances Partnership with International Lithium Corp. on The Blackstairs Lithium Project, Ireland(via Thenewswire.ca)\n\n \nVancouver B.C. December 6, 2013: International Lithium Corp. (\"ILC\" or the \"Company\") (ILC: TSX-V) is pleased to announce that pursuant to the option agreement between the Company and GFL International Co., Ltd. (\"Ganfeng Lithium\" or \"GFL\") the prospecting licenses for the Blackstairs Lithium Project were transferred to a private Irish Company, Blackstairs Lithium Limited (\"BLL\"), to facilitate the execution of the option agreement between ILC and Ganfeng Lithium and prepare for a joint venture partnership to advance the project.\n\n \n \nOn November 28, 2013 the Company received notice from the Department of Communications, Energy and Natural Resources located in Dublin, Ireland that the prospecting licenses that comprise the Blackstairs Lithium Project were successfully transferred to BLL. \n\n \n \nUnder the terms of the option agreement between the two Parties (the \"Blackstairs Agreement\") the formation of an Irish subsidiary was necessary to facilitate the advancement of the project as a joint venture between the two parties (NR_Oct02_2012). GFL will complete its obligations to acquire a 51% interest in the Blackstairs Lithium Project and enter into a joint venture partnership under the Second Option of the Blackstairs Agreement whereby GFL can earn an additional 24% interest for a total 75% interest in the project by incurring $10 million in expenditures on the Blackstairs Property or producing a positive feasibility study on the Property within ten years of the effective date.\n\n \n \n\"With formation of Blackstairs Lithium Limited we achieve a very important milestone with our strategic partner Ganfeng Lithium who are currently building additional production facilities to accommodate their aggressive expansion campaign. Securing a stable supply of raw materials containing lithium is a strategic issue as the demand for electric vehicles increases globally. International Lithium is well positioned to address this need. We have strong support to develop our project through our continuing joint venture with Ganfeng Lithium which will help to advance the exploration in Ireland in a timely manner,\" Kirill Klip, President, International Lithium Corp.\n\n \n \nAbout GF...

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