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International Lithium Corp. Announces Completion of Mariana Disposal for USD 13.17m
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - The board of International ...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Corp. Announces Completion of Mariana Disposal for USD 13.17mVancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - The board of International Lithium Corp. (TSXV: ILC) (the \"Company\" or \"ILC\") is pleased to announce the completion of its transaction to sell its remaining interest in the Mariana project.The Company announced on September 21, 2021 that it had contracted to sell its remaining 8.58% stake in Litio Minera Argentina S.A. and the Company's remaining rights and obligations related to the Mariana project to ILC's partner Ganfeng Lithium. The deal included confirmation that Litio Minera Argentina would assume all rights or obligations that the Company had in respect of the Mariana property. On October 4, 2021, the Company announced that it expected this sale to complete in mid-October. Completion has now taken place, and the Company has received from Ganfeng Lithium a net cash consideration of USD 10m being USD 13.17m less principal and interest on an exploration loan of USD 3.17m.John Wisbey, Chairman and CEO of International Lithium Corp. commented:\"We are of course pleased that this transaction has now successfully completed, and that we have the cash resources to progress our other plans quickly without dependency on funding. ILC is now in by far the strongest financial position that it has been since its listing in 2011, and we look forward to building successfully on that both at our lithium and rubidium project at Raleigh Lake in Ontario and on our other present and future projects. Sincere thanks are due to those shareholders and colleagues who have helped the Company to progress to this point.\"About International Lithium Corp.International Lithium Corp. believes that the '20s will be the decade of battery metals, at a time that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. Our key mission in this decade is to make money for our shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet. This includes optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits. In addition, we h...