TSXV: CLQ; (TSX: CLQ); U.S. OTC: CLQMF
TORONTO, June 23 /CNW/ - Canada Lithium Corp. (TSXV: CLQ; U.S. OTC: CLQMF) is pleased to announce that its common shares and certain warrants will commence trading on the Toronto Stock Exchange ("TSX") on the opening of the market on Thursday, June 24, 2010 under its current trading symbol of "CLQ" with respect to the common shares and "CLQ.WT" with respect to the warrants. There will be no further trading of Canada Lithium's shares and warrants on the TSX Venture Exchange ("TSXV") after June 23, 2010, and its shares and warrants will be delisted from TSXV at the commencement of trading on the TSX.
Peter Secker, President and CEO of Canada Lithium stated: "We are delighted to have qualified for a listing on the senior TSX board. It further heightens our visibility in the investing community as we move through the process of a definitive Feasibility Study (FS) on the Quebec Lithium Project."
The FS is being conducted by Montreal engineering firm BBA Inc. with an anticipated completion date in the first quarter of 2011. The previously announced Pre-Feasibility Study sets out a timeline to production by late 2012 at an annual production rate of 42.6 million pounds of battery-grade lithium carbonate from an open-pit mine and processing plant that will be situated about 60 km north of Val d'Or, Quebec.
"Our project is on track," Mr. Secker added. "The FS is well under way, as are environmental studies initiated last fall and SGS Lakefield's pilot processing plant."
About Canada Lithium Corp.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company is currently preparing a Definitive Feasibility Study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium from deposit samples.
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.
The statements made in this press release may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of Canada Lithium Corp. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of Canada Lithium Corp. management as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. Canada Lithium Corp. disclaims any obligation to update information contained in any forward-looking statement.
SOURCE Canada Lithium Corp.
For further information: For further information: Peter Secker, President and CEO, (416) 361-2821; Olav Svela, Director, Investor Relations, (416) 361-2821, email: firstname.lastname@example.org; Christine Stewart, Renmark Financial Communications Inc., (416) 644-2020, email: email@example.com; Please visit the Canada Lithium website at www.canadalithium.com.