Canada Lithium Corp.

Canada Lithium Corp.

June 01, 2009 17:24 ET

Canada Lithium Corp. Closes Private Placement

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - Canada Lithium Corp. (TSX VENTURE:CLQ) is pleased to announce the completion of a non-brokered private placement of 25,000,000 common shares at a price of $0.16 per common share for aggregate gross proceeds of $4,000,000. The securities issued are subject to a four month hold period.

An aggregate of $246,820 in finder's fees and warrants to purchase 1,498,875 shares at an exercise price of $0.25 for a period of one year were issued to Primary Capital Inc., PowerOne Capital Markets Limited, Octagon Capital Corporation, Jordon Capital Markets Inc., CIBC Wood Gundy, Canaccord Capital Corporation and 1259603 Alberta Inc.

Shares Outstanding: 113,069,778

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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