Vancouver, B.C. December 23, 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX Venture:ILC.V) reports that it is issuing this news release to clarify inadvertently omitted disclosure in the Company’s Information Circular dated May 11, 2016, related to Mr. Gary Schellenberg a director and CEO of the Company.
The Company’s circular for its 2016 annual general meeting of shareholders omitted required disclosure about a cease trade order for Golden Coast Energy Corp. (“GCE”), a company for which Mr. Schellenberg was a director at the time of the cease trade order. While a director of GCE, on December 11, 2015, GCE was subject to a cease trade order of the British Columbia Securities Commission for GCE’s failure to file its audited financial statements and related MD&A for the financial year ended July 31, 2015. The cease trade order remains in effect. Mr. Schellenberg resigned as a director of GCE on March 24, 2016.
The inadvertent omission was identified during an internal review and audit of the Company’s recent disclosures.
Following ILC’s corporate principles to promote full and complete disclosure and to rectify the omission, the Company issues this clarification.
On behalf of the Board of Directors,
CEO, International Lithium Corp.
Neither the 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. 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.