Insiders can sell in a lot of circumstances, but they will buy only when they see the value with all available to them information. International Lithium is holding well above its IPO price of 0.25CAD. Trading volume is very low as shares of ILC are still in transition to the accounts of TNR Gold shareholders, but the company is getting on the radar screens now and we have another endorsement from its largest shareholders.
"TNR Gold Corp.: International Lithium Corp. Spin-Out Approved and Record Date Set. Gary Schellenberg and Mike Sieb have built a very impressive group surrounding TNR Gold. Now we have the Strategic investor from China - Ganfeng Lithium - on board of this Lithium development story. Major shareholder of TNR Gold - Kirill Klip - is sitting tight and buying into International Lithium IPO; and financing is oversubscribed. Just last week another Insider announced his holding in TNR Gold with more than 10% - this story is getting traction among mining and energy industry insiders. Nova Gold is on board as well with stake just below 10% after transaction with Shotgun Gold deposit in Alaska and Barrick Gold is mentioned among shareholders.
TNR Gold will hold 30% in International Lithium post IPO and "Big Copper in Argentina" - Los Azules developments are just around the corner now.
Now it will be up to Mike Sieb - President of International Lithium - to show his magic one more time. He has built before Brilliant Mining into the 200 mil market cap in the Nickel business.
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.
Ticker Symbol: C:ILC C:TNR
Int'l Lithium's Klip acquires 7.55 million units
Shares Issued 65,901,354
Last Close 5/25/2011 $0.315
Thursday May 26 2011 - News Release
Also TNR Gold Corp (C:TNR) News Release
Mr. Kirill Klip of International Lithium reports
EARLY WARNING REPORT MAY 26, 2011
On May 19, 2011, pursuant to a plan of arrangement between TNR Gold Corp. and International Lithium Corp., Kirill Klip acquired 6,551,250 units (the "Units") of International Lithium, each Unit consists of one common share (the "Common Shares") and one share purchase warrant (the "Warrants"), each Warrant entitles Mr. Klip to purchase an additional common share of International Lithium any time up to May 19, 2013 at a price of $0.375.
In addition, pursuant to a concurrent private placement, Mr. Klip acquired an additional 1,000,000 units (the "PP Units") of International Lithium at a price of $0.25 per PP Unit, each PP Unit consisting of one common share (the "PP Common Shares") and one share purchase warrant (the "PP Warrants") each PP Warrant entitles Mr. Klip to purchase an additional PP Common Share at a price of $0.375 per PP Common Share in the capital of International Lithium up to May 19, 2013. The Common Shares, PP Common Shares, Warrants and PP Warrants represent approximately 20.56% of the outstanding common shares of International Lithium.
After giving effect to the issuance of the Common Shares, PP Common Shares, Warrants and PP Warrants, Mr. Klip now holds, directly or indirectly, a total of 7,551,250 common shares and 7,551,250 warrants which represents a 20.56% interest, assuming exercise of all of the foregoing warrants.
The Common Shares and the Warrant Shares of International Lithium were acquired by Mr. Klip pursuant to a plan of arrangement between TNR and International Lithium and the PP Common Shares and the PP Warrants were acquired for investment purposes. Subject to availability, price, the general state of the capital markets and the financial condition of International Lithium from time to time, Mr. Klip may purchase or sell securities of International Lithium.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2011 Canjex Publishing Ltd.