VANCOUVER, British Columbia, March 16, 2012 /PRNewswire/ -- International Lithium Corp. ("ILC" or the "Company") (TSXV: ILC) is pleased to announce the appointment of Kirill Klip, MBA, as President effective immediately.
Kirill Klip graduated with the degree in Management from St. Petersburg State University of Railways, later obtaining a degree in Economics from the International Business School in Moscow and a degree in MBA in Finance from both the International Business School in Moscow and Guildhall University in London. He has extensive expertise in banking, transportation, mining, telecommunications and internet industries. Kirill Klip served as the First Vice President and Member of the Board of TransCreditBank (Moscow), Member of the Board of TransTeleCom (Moscow) and Member of the Board of Dry Bulk Terminal (Tallinn). He also acted as the Adviser on Finance for the Minister of Russian Railway System (Moscow).
From 2008, Kirill Klip has acted as Non-Executive Chairman and member of the Board of TNR Gold Corp. (International Lithium's parent company through a Plan of Arrangement and spin-out) and an Adviser to the Board of Canada Zinc Metals.
In addition to years of entrepreneurial and corporate stewardship, he also manages a portfolio of global assets and brings a robust financial network to the group.
Mr. Klip is the largest individual shareholder in International Lithium with approximately 11% of the outstanding shares and holds a 20% equity stake in TNR Gold Corp. Mr. Klip is a UK citizen and resides in London.
Mike Sieb has resigned as President in order to provide Mr. Klip the opportunity to lead the Company through its next stage of development. Mr. Sieb will remain as an active member of and continue to provide technical expertise to the Board of Directors of International Lithium.
"I would like to thank Mike Sieb for the initial launch of International Lithium as a public company with all our TNR Gold team. Mike has delivered impressive technical successes as demonstrated from recent exploration results on numerous ILC projects and structuring the strategic partnership with China based Ganfeng Lithium Co., Ltd. to provide the Company with current and future technical and financial support," states Kirill Klip.
Mr. Klip's prime objectives will be to advance the market development and value realization of the Company with the continued aggressive exploration of the Company's projects through the resource delineation stage and support of strategic partnerships. His efforts will be aided by focusing on ILC's shareholder base and capitalising on industry connections, particularly in Asia.
Mr. Klip is a strong believer in the advancement of green technology and the special place that lithium holds in the advent of the electrification of everyday transportation.
"We have an exciting opportunity to build the Company along the ideal that our society as a whole is making the transition to a post carbon-based economy. Electrification of transportation and energy storage systems for solar and wind power generation depend on lithium based battery technology, which is rapidly developing. International Lithium has been formed with all the components; an attractive global portfolio of lithium and rare metals projects, strong technical team and strategic partners; to address the demands of the future. Our goal is to position the Company in the potential supply chain of strategic commodities for the coming green technological revolution," states Kirill Klip.
ABOUT INTERNATIONAL LITHIUM CORP
International Lithium Corp. is a rare metals mineral exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
ILC currently has 9 active rare metals projects, well balanced between lithium-potash brines in Argentina, Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium-potash brine project, a salar or "salt lake," covering an expansive 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American "Lithium Belt" centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium-potash brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the rare metals pegmatite properties. The key characteristics shared by the hard-rock rare metals projects are their limited past exploration, excellent accessibility and limited assaying for rare metals. All of which imply a clear potential for additional exploration and development as well as added project value to meet the global technological growth in demand for the rare metals 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,
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.
Stock Symbol: ILC:TSXV
Shares CUSIP: #459820 10 6
Warrants Symbol: ILC.WT
Warrant CUSIP: #459820 11 4
SOURCE International Lithium Corp.