Business
International Lithium Grants Stock Options
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2019) - International Lithium Corp. (...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Grants Stock OptionsVancouver, British Columbia--(Newsfile Corp. - June 11, 2019) - International Lithium Corp. (TSXV: ILC) (OTC PINK: ILHMF) (the \"Company\" or \"ILC\") announces the grant of 4,070,000 stock options (the \"Options\") to directors and officers of the Company. The Options are exercisable at $0.065 per share until May 31, 2024. A total of 695,000 of the options vest immediately and a total of 3,375,000 vest one year from the date of grant. This brings the number of outstanding options to 10,705,000, representing a total of 8.07% of the Company's outstanding shares.Following the significant decline in the share price of almost all lithium companies over the last 18 months, the board fully understands that the Company's investors are keen to see the ILC share price recover. In order to align management interests further with those of shareholders, 3,375,000 of the newly granted stock options contain a condition that the average closing price of the Company's shares on the TSX Venture Exchange must be at least $0.10 for a minimum of 20 consecutive business days before they may be exercised.About International Lithium Corp.International Lithium Corp. has a significant portfolio of projects, strong management, and a strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., (\"Ganfeng Lithium\") a leading China-based lithium product manufacturer.The Company's primary strategic focus is now on the Raleigh Lake project in Canada and the Mariana project in Argentina. The Raleigh Lake project, consisting of 3,027 hectares of adjoining mineral claims in Ontario, is now regarded by ILC management as ILC's most significant project in Canada. It is 100% owned by ILC, is not subject to any encumbrances, and is royalty free. The Company has a strategic stake in the Mariana lithium-potash brine project located within the renowned South American \"Lithium Belt\" that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres that ranks as one of the more prospective salars or 'salt lakes' in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, owned 84.60...