International Lithium ( (TSE:ILC) ) has provided an update.
International Lithium Corp. has successfully closed the first tranche of its non-brokered private placement, raising $355,000 through the issuance of 23,666,666 common shares. The proceeds will be primarily used for general working capital and to pay outstanding fees to non-arm’s length creditors. The participation of key company insiders, including CEO John Wisbey, who now holds a significant share of the company, highlights the strategic importance of this placement. This move is expected to strengthen the company’s financial position as it awaits proceeds from its stake disposal in the Irish Avalonia project.
More about International Lithium
International Lithium Corp. operates in the mining industry, focusing on the exploration and development of lithium and other battery and rare metals. The company aims to optimize the value of its Canadian projects, which include lithium, rubidium, and copper, and is strategically targeting markets like Zimbabwe for expansion.
YTD Price Performance: -25.00%
Average Trading Volume: 98,812
Technical Sentiment Signal: Buy
Current Market Cap: C$3.73M
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