International Lithium Corp. Announces Closing of Private Placement

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[{"type":"text","content":"International Lithium Corp. Announces Closing of Private PlacementVANCOUVER, BC / ACCESSWIRE / March 16, 2016 / International Lithium Corp. (TSXV: ILC.V) (the \"Company\" or \"ILC\") is pleased to announce that it has closed its private placement for gross proceeds of $629,600 through the issuance of 7,870,000 units of ILC, at a price of $0.08 per unit. Each unit comprises one common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of ILC for a period of three years from the date of issuance at a price of $0.12 per share. Proceeds of the private placement will be used for the continued exploration of ILC's properties and for general working capital purposes. All securities issued pursuant to the private placement are subject to a four-month-and-a-day hold period.\nILC President, Kirill Klip comments, \"International Lithium is beginning a new phase of strategic developments through new potential acquisitions and strategic partnerships. The availability of affordable electric cars is almost here with models like GM's Bolt and Tesla's Model 3 coming into production this and next year. This will greatly increase the demand for lithium batteries in North America. Our new strategy recognizes this opportunity and we seek to meet the demand for lithium in North America's massive automotive markets. Together with Ganfeng Lithium we continue to advance our projects in Argentina and Ireland building on a vertically integrated lithium business in China, the centre of today's lithium industry where prices for the green energy metal are currently escalating. Newly formed alliances with companies like Pioneer Resources, will help us focus our expertise in recognizing opportunities and building up a resource base, while minimizing our capital outlay to advance the projects to build the secure supply of lithium for the North American market.\"\nAbout International Lithium Corp.\nInternational Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor GFL International, a fully owned subsidiary of Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.\nThe Company's primary focus is the Mariana lithium-potash brine...

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