Ganfeng Lithium takes its strategic investment in International Lithium very seriously and has appointed its top officer to the ILC Board. Couple of other insiders have announced their stake in International Lithium today. Company is very tightly held: TNR Gold has just under 30%, Non Executive Chairman Kirill Klip has 11.5%, Ganfeng Lithium has 9.9% and two other major TNR Gold shareholders have just under 10% and just under 6% respectively. Almost 70% of the company is held by strong insiders' hands and Ganfeng Lithium has the agreement in place to increase its stake in ILC.
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6/9/2011 8:30:01 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jun 9, 2011 (Marketwire via COMTEX News Network) --
International Lithium Corp. (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT) ("ILC" or the "Company") is pleased to announce the appointment of Mr. Wang Xiaoshen as a Non-Executive Director to the ILC Board.
-- Mr. Wang is Vice Chairman and Executive Vice President of China based
Jiangxi Ganfeng Lithium;
-- He possesses extensive understanding of the Lithium industry and
-- He was instrumental in Ganfeng Lithium's growth and success from
-- He is committed to assist ILC in attaining our mutual objectives.
"The Board welcomes Mr. Wang as a Director and considers his appointment an important initiative as well as an integral step towards the strengthening of the Company and the advancement of the Company's projects." states International Lithium Corp. President, Mike Sieb.
Mr. Wang was nominated to the Board by Jiangxi Ganfeng Lithium Co. Ltd. ("Ganfeng Lithium"), which was part of a Strategic Relationship Agreement involving a 9.9% initial equity investment in the Company. The funds provided through Ganfeng Lithium's investment will directly assist in the advancement of the Company's exploration projects. Mr. Wang is currently Vice Chairman and Executive Vice President of Ganfeng Lithium.
Mr. Wang, graduated in 1990 with University of North Technology in Beijing, and subsequently established himself in the Lithium sector with China State-Owned Enterprises (SOE). Also graduated with an Executive MBA from the China Europe International Business School in 2002. Mr. Wang possesses an in-depth understanding of the Lithium industry and market through his lengthy experience in sales and marketing of Lithium products in China and around the world. He was integral to the formation of Ganfeng Lithium and has been instrumental to its growth as the Managing Director since 2006.
"Lithium is increasingly becoming a vital global element and essential to Ganfeng Lithium's continued growth," noted Wang Xiaoshen, General Manager of Ganfeng Lithium. "We look forward to the opportunity that International Lithium represents and the potential assistance that they can provide in meeting future demand."
ABOUT JIANGXI GANFENG LITHIUM CO. LTD.
Ganfeng Lithium based in Xinyu, Jiangxi Province, China, is producer prominent manufacturer of Lithium products through a comprehensive product chain, including Lithium Metal and alloys, inorganic and Organic Lithium chemicals, to supply a wide range of Lithium products for the Primary and Secondary Lithium battery market, pharmaceutical and new material industries. Ganfeng's principal market is in China with international exports to Europe, Japan, USA and India.
Ganfeng Lithium was founded in the year 2000, was listed on the Shenzhen Stock Exchange in August 2010, notably as the first publicly listed Lithium company in China, has experienced rapid continuous growth over last 10 years and has recently reported USD6.3 million net income from total revenues of USD54 million in 2010.
ABOUT INTERNATIONAL LITHIUM CORP
International Lithium Corp. is an international rare element metals ("REM") mineral exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a prominent lithium product manufacturer as a keystone investor.
ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium brine project, a salar or 'salt lake', covering an expansive 160 km2 and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred around the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the REM pegmatite properties. The key outstanding characteristics shared by these hard-rock REM projects are their underexplored nature, excellent accessibility, under-analyzed rare metals' history, significant potential that additional exploration will add project value and ultimate potential ability to develop the projects to meet the global technological growth in demand for the REM suite of elements.
International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
On behalf of the Board,
President - International Lithium Corp.
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. 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.
Shares CUSIP: #459820 10 6
Warrant CUSIP: #459820 11 4
SOURCE: International Lithium Corp.
International Lithium Corp. Mike Sieb President Voice: (604) 687-7551 or 1-800-667-4470 (604) 687-4670(FAX) firstname.lastname@example.org www.internationallithium.com
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