“Mr. Brooks brings a unique skill set to the board of directors of ILC and shares our vision to move beyond the high risk early exploration model of value creation,” stated Kirill Klip, Chairman, President and CEO of International Lithium Corp."
Back Into The Future: Lithium Will Power Us For The Next 50 Years And Then Robots.
“I am very pleased with how our strategic transition is moving forward at ILC,” states Kirill Klip, Chairman, President and CEO International Lithium Corp. “We are switching from a relatively low profit base of only managing exploration operations for the development of our J/V projects with our strategic partners to building a sizeable portfolio of strategic assets. Examples of our successful past record include the Mariana and Avalonia lithium projects which are being developed in conjunction with lithium industry leaders like Ganfeng Lithium, our strategic partner.
Expanding our focus to include investments in opportunities on a broader scale that may see mine production in the near term and seek financing in creative manners that restrict shareholder dilution to fund these acquisitions will be in alignment with our current partners and shareholders and give us an edge over other companies that are closely tied to specific exploration prospects. This new business model will allow ILC to capitalise on the growth of our industry which is providing the material base for the ongoing Green Energy rEVolution. Lithium based energy storage technology is at the centre of the exponential growth in the markets for electric cars and Energy Storage Systems, which are providing the necessary technical solutions for solar and wind power generation that are intermittent in their nature.”
Building The Secure Lithium Supply For Electric rEVolution: International Lithium Corp. Announces Strategic Changes.
International Lithium Corp. And Pioneer Resources Intersect Spodumene Bearing Pegmatite At The Mavis Lithium Pegmatite Project, Ontario, Canada
Photograph 1. Drill core from MF-17-39 showing the spodumene-bearing pegmatite intersection. For reference each line of core is approximately 1.5m in length.
* The drill intersection length noted is a ‘down-hole’ measurement and may not represent the true width of the pegmatite intersected. Additional analysis will be required to estimate the true thickness of the highlighted intersection with any degree of confidence.
** The qualified person has sufficient experience and knowledge, in conjunction with identification evidenced by previous work on the Project, to state with high confidence the identification of spodumene in the highlighted intersection; however the reader should be cautioned that neither the qualified person nor the Company make any assumptions or inferences as to the degree of mineralisation or grade.
LEGAL DISCLAIMER
International Lithium:
International Lithium Corp. Appoints Maurice Brooks to the Board of Directors
Vancouver, B.C. February 16, 2017: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC.V) is pleased to announce that, further to the Company’s news releases dated January 25, 2017 and February 9, 2017 announcing certain strategic changes to its corporate structure and business model, Maurice Brooks has been appointed to the Company’s board of directors.
Mr. Brooks was appointed interim Chief Financial Officer of the Company earlier this year. He is a licensed senior statutory auditor in the UK and has been a senior partner in Johnson, Smith & Co., Chartered Accountants and Statutory Auditors since 2000. Previously, he was Finance and Deputy Managing Director of a vehicle producer, Investment Accountant to the Western Australian Government, and before that he had been employed in the audit department of PricewaterhouseCoopers – UK.
“Mr. Brooks brings a unique skill set to the board of directors of ILC and shares our vision to move beyond the high risk early exploration model of value creation,” stated Kirill Klip, Chairman, President and CEO of International Lithium Corp.
Mr. Brooks replaces Mr. Wayne Spilsbury, who resigned as a director of ILC on February 13, 2017. Mr. Spilsbury is also a director of Australian Stock Exchange-listed Pioneer Resources Limited (“Pioneer”) (ASX:PIO) a party to an option agreement with International Lithium Corp. on the Mavis and Raleigh pegmatite projects located in Ontario, Canada.
International 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 Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
The Company’s primary focus is the strategic stake in the Mariana lithium-potash brine project (including 10% back-in right), a joint venture with Ganfeng Lithium Co. Ltd. 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 evaporate basin, totalling 160 square kilometres, that ranks as one of the more prospective salars or ‘salt lakes’ in the region.
Complementing the Company’s lithium brine project are three rare metals pegmatite properties in Canada known as the Mavis, Raleigh, and Forgan projects, and the Avalonia project in Ireland, which encompasses an extensive 50km-long pegmatite belt. The Avalonia project is under option to strategic partner Ganfeng Lithium and the Mavis and Raleigh projects with strategic partner Pioneer Resources Limited (ASX:PIO). The Mavis, Raleigh and Forgan projects together form the basis of the Company’s Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to existing infrastructure.
With the increasing demand for high tech rechargeable batteries used in vehicle propulsion technologies and portable electronics, lithium is paramount to tomorrow’s “green-tech”, sustainable economy. By positioning itself with solid development partners and acquiring high quality grass roots projects at an early stage of exploration, ILC aims to be the resource explorer of choice for investors in green-tech and to continue to build value for its shareholders.
On behalf of the Board of Directors,
Kirill Klip
Chairman, President and CEO, International Lithium Corp.
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
Statements in this press release other than purely historical information, should not be relied upon. Historical estimates, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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