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TSX: CLQ; U.S. OTC: CLQMF
TORONTO, June 6, 2012 /CNW/ - Canada Lithium Corp. ("Canada Lithium" or
the "Company") (TSX: CLQ) (OTCQX: CLQMF) announced today that it has
completed the sale of an additional 4,950,767 common shares at a price
of $0.36 per common share for additional gross proceeds of
approximately $1,782,276, pursuant to the partial exercise of the
over-allotment option included in the Company's equity financing that
closed on May 30, 2012. The exercise of the over-allotment option
brings the total number of common shares sold by the Company pursuant
to its equity financing to 88,284,100 common shares and the total gross
proceeds to approximately $31,782,276.
The securities mentioned herein have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be offered
or sold within the United States unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from registration is available. This press release does not constitute
an offer to sell or a solicitation of an offer to buy any of the
securities mentioned herein within the United States, or the District
About Canada Lithium Corp.
The Company holds a 100% interest in the Québec Lithium Project near Val
d'Or, the geographical heart of the Québec mining industry. The Company
is in the midst of building an open-pit mine and processing plant
on-site with capacity to produce approximately 20,000 tonnes of
battery-grade lithium carbonate annually. Metallurgical tests have
produced battery-grade lithium carbonate samples. The Company trades
under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking information is based on reasonable assumptions that have
been made by the Company as at the date of such information and is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or
achievements of the Company on to be materially different from those
expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information referenced herein,
except in accordance with applicable securities laws.
SOURCE CANADA LITHIUM CORP.
For further information:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or (416) 479-4355 or email firstname.lastname@example.org
Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020 or email email@example.com
For more information, please visit the Canada Lithium website at www.canadalithium.com.
The Company's corporate office is at 401 Bay Street, Suite 2010, P.O. Box 118, Toronto, ON, M5H 2Y4