Deal funds exploration on projects in Ontario, Northwest Territories
By Devika Patel
Knoxville, Tenn., July 11 - International Lithium Corp. said it will conduct a C$1 million private placement of units.
The company will sell 3,636,363 units of one flow-through common share and one half-share warrant at C$0.275 per unit. Each whole, two-year warrant will be exercisable at C$0.40.
The strike price is an 86.05% premium to C$0.215, the July 8 closing share price.
Proceeds will be used for exploration on the company's Canadian rare metals projects in Ontario and the Northwest Territories.
International Lithium is a rare element metals exploration company based in Vancouver, B.C.
| Issuer: | International Lithium Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 3,636,363
|
| Price: | C$0.275
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | July 11
|
| Stock symbol: | TSX Venture: ILC
|
| Stock price: | C$0.215 at close July 8
|
| Market capitalization: | C$220,000
|
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