International Lithium Corp. Completes Sale of Its 49% Stake in Mavis Lake Project in Ontario, Canada
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Wednesday, January 5, 2022
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Following completion of the Mavis Lake sale and the sale of its remaining stake in Mariana to Ganfeng Lithium in October 2021, ILC now has CAD$ 12.9m of cash and marketable securities.
Key Points:
- Following completion of the Mavis Lake sale and the sale of its remaining stake in Mariana to Ganfeng Lithium in October 2021, ILC now has CAD$ 12.9m of cash and marketable securities.
- We retain a further CAD$ 1.38m of upside in further payments at Mavis Lake if CRR achieves the hoped for results there.
- The Company's primary strategic focus is now on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties.
- The Raleigh Lake project now consists of over 47,000 hectares (470 square kilometres) of adjoining mineral claims in Ontario, and is ILC's most significant project in Canada.