Canada Lithium Corp.

Canada Lithium Corp.

May 26, 2009 13:00 ET

Canada Lithium Corp. Announces Private Placement

TORONTO, ONTARIO--(Marketwire - May 26, 2009) - Canada Lithium Corp. (TSX VENTURE:CLQ) is pleased to announce a proposed non-brokered private placement of up to 25,000,000 common shares at a price of $0.16 per common share for aggregate gross proceeds of up to $4,000,000. Canada Lithium Corp. will pay a finder's fee equal to 7% of the gross proceeds of the offering and will issue broker warrants entitling the holder thereof to acquire common shares equal to 7% of the number of common shares sold, exercisable at a price of $0.25 per common share for a period of one year. The securities issued are subject to a four month hold period.

Completion of the private placement is subject to regulatory approval, including satisfaction of the requirements of the TSX Venture Exchange.

Neither 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.

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