Canada Lithium Announces $20 Million Bought-Deal Financing

TSX: CLQ; U.S. OTC: CLQMF  
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TORONTO, March 4, 2013 /CNW Telbec/ - Canada Lithium Corp. ("Canada Lithium" 
or the "Company") (TSX: CLQ) (U.S. OTC: CLQMF) announced today that it has 
entered into an agreement with a syndicate of underwriters led by Casimir 
Capital Ltd., and including Mackie Research Capital Corporation, Scotia Bank 
Limited, Dundee Securities Ltd. and Fraser Mackenzie Limited, (collectively 
the "Underwriters"), to purchase, on a bought-deal basis, 27,397,260 common 
shares of Canada Lithium at a price of $0.73 per common share (the "Offering 
Price") for aggregate gross proceeds of approximately $20 million. In 
addition, the Company has granted the Underwriters an option to purchase up to 
an additional 4,109,589 common shares at the Offering Price, exercisable at 
any time prior to the 30th day after the closing of the offering, for 
additional gross proceeds of up to approximately $3 million. 
The offering is subject to certain conditions including, but not limited to, 
the receipt of all necessary regulatory and other approvals, including the 
approval of the Toronto Stock Exchange and the securities regulatory 
authorities. The financing is anticipated to close on or about March 25, 2013. 
The Company will use the proceeds to fund initial stages of several previously 
announced capital projects, including lithium hydroxide and sodium sulphate 
circuits, preliminary engineering/design of a lithium metal pilot plant, a 
natural gas pipeline and for working capital and general corporate purposes. 
At the project site near Val d'Or, Québec, the commissioning of the open-pit 
mine and spodumene concentration circuits continues to build from the early 
stages of first concentrate production in late December 2012. Commissioning of 
the hydrometallurgical circuit is ongoing, with the majority of installations 
and systems testing now complete. Installation of the brick liner for the kiln 
has been completed and pre-heating of the kiln is scheduled for completion by 
mid-March. First lithium carbonate production is scheduled for the end of 
March. Shipments to Chinese customers are anticipated to commence in April, 
as per off-take agreements. Capital cost estimates remain unchanged from 
earlier guidance. 
The securities offered have not been, and will not be, registered under the 
U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any 
U.S. state securities laws, and may not be offered or sold in the United 
States or to, or for the account or benefit of, United States persons absent 
registration or any applicable exemption from the registration requirements of 
the U.S. Securities Act and applicable U.S. state securities laws. This press 
release shall not constitute an offer to sell or the solicitation of an offer 
to buy securities in the United States, nor shall there be any sale of these 
securities in any jurisdiction in which such offer, solicitation or sale would 
be unlawful. 
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. It has completed 
construction and is in the commissioning phase of an open-pit mine and on-site 
processing plant with estimated capacity to produce approximately 20,000 
tonnes of battery-grade lithium carbonate annually. Metallurgical tests have 
produced battery-grade lithium carbonate samples. A five-year off-take 
agreement for a minimum of 12,000 tonnes per year was recently signed with 
Tewoo-ERDC, one of China's largest commodities traders. A second off-take for 
up to 5,000 tonnes per year was recently signed with Marubeni Corp., a major 
Japanese commodities trading company. Lithium carbonate is used in lithium-ion 
batteries that power consumer electronics (laptops, tablets, etc.), power-grid 
storage facilities and electric and hybrid vehicles. The Company trades 
under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol CLQMF. 
Cautionary Statement Regarding Forward-Looking Information 
This press release contains "forward-looking information" within the meaning 
of Canadian securities legislation. Forward-looking information is based upon 
the Company's beliefs, estimates and opinions as at the date of this press 
release, which the Company believes are reasonable, but no assurance can be 
given that these will prove to be correct. Furthermore, the Company undertakes 
no obligation to update or revise forward-looking information contained herein 
if these beliefs, estimates and opinions or other circumstances should change, 
except as otherwise required by applicable law. 
Forward-looking information relates to future events or to future conditions, 
performance or results of operations and reflects current expectations or 
beliefs regarding such matters including, but not limited to, information or 
statements with respect to: (i) the amount of mineral resources; (ii) 
exploration, development and production activities, including information 
regarding the potential mineralization and resources; (iii) the amount of 
future output over any period; (iv) net present value and internal rates of 
return of the mining operation; (v) assumptions relating to capital costs, 
operating costs and other cost metrics; (vi) assumptions relating to gross 
revenues, operating cash flow and other revenue metrics; (vii) assumptions 
relating to future price and demand for lithium and other macroeconomic 
metrics; (viii) exploration and development plans, including anticipated costs 
and timing thereof, time frames for completion, and anticipated time to 
production; (ix) mine potential and expected mine life; and * sources of and 
anticipated financing requirements. 
All information other than matters of historical fact may be forward-looking 
information. In some cases, forward-looking information can be identified by 
the use of words such as "seek", "expect", "anticipate", "budget", "plan", 
"project", "estimate", "assume", "continue", "forecast", "intend", "believe", 
"predict", "potential", "target", "strategy", "goal", "may", "could", "would", 
"might", or "will" and similar words or phrases (including negative 
variations) suggesting future outcomes or statements regarding an outlook. 
Forward-looking information is based upon certain assumptions by the Company 
or its consultants and other important factors that, if untrue, could cause 
the actual results, performances or achievements of the Company to be 
materially different from future results, performances or achievements 
expressed or implied by such information. Such information is based on 
numerous assumptions regarding present and future business strategies and the 
environment in which the Company will operate in the future, including the 
price of lithium, anticipated costs and ability to achieve goals. Certain 
important factors that could cause actual results, performances or 
achievements to differ materially from those in the forward-looking 
information include, but are not limited to: (i) required capital investment 
and estimated workforce requirements; (ii) estimates of net present value and 
internal rates of return; (iii) future demand and market prices for lithium; 
(iv) receipt of regulatory approvals on acceptable terms within commonly 
experienced time frames; (v) anticipated timelines for the commencement of 
production; (vi) anticipated timelines for community consultations and the 
impact of those consultations on the regulatory approval process; and (vii) 
future exploration plans and objectives. 
By its nature, forward-looking information involves known and unknown risks, 
uncertainties and other factors which may cause actual results, performance or 
achievements, or industry results, to differ materially from those expressed 
or implied by such forward-looking information. Some of the risks and other 
factors that could cause actual results to differ materially from those 
expressed in the forward-looking information contained in this press release 
include, but are not limited to, risks and uncertainties relating to: (i) the 
interpretation of drill results, the geology, grade and continuity of mineral 
deposits and conclusions of economic evaluations; (ii) results of feasibility 
studies, and the possibility that future exploration, development or mining 
results will not be consistent with the Company's expectations, (iii) the 
outcome of litigation in which the Company is or may in the future become 
involved; (iv) risks relating to possible variations in reserves, grade, 
planned mining dilution and ore loss, or recovery rates and changes in project 
parameters as plans continue to be refined; (v) mining and development risks, 
including risks related to accidents, equipment breakdowns, labor disputes 
(including work stoppages and strikes) or other unanticipated difficulties 
with or interruptions in exploration and development; (vi) risks related to 
the inherent uncertainty of production and cost estimates and the potential 
for unexpected costs and expenses; (vii) risks related to future commodity 
demand and price and foreign exchange rate fluctuations; (viii) the 
uncertainty of profitability based upon the cyclical nature of the industry in 
which the Company operates; (ix) risks related to failure to obtain adequate 
financing on a timely basis and on acceptable terms or delays in obtaining 
governmental approvals or in the completion of development or construction 
activities; * risks related to environmental regulation and liability; (xi) 
political and regulatory risks associated with mining and exploration; (xii) 
risks related to the uncertain global economic environment; and (xiii) other 
risks and uncertainties related to the Company's prospects, properties and 
business strategy. Although the Company has attempted to identify important 
factors that could cause actual results or events to differ materially from 
those described in the forward-looking information, readers are cautioned that 
this list is not exhaustive and there may be other factors that the Company 
has not identified. Readers are cautioned not to place undue reliance on 
forward-looking information contained in this press release. All 
forward-looking information contained in this press release or incorporated by 
reference herein is expressly qualified by this cautionary note. 
Peter Secker, CEO and Deputy Chairman (416) 361-2821 
Olav Svela, Director, Investor Relations (416) 361-2821 or (416)  479-4355 or 
emailosvela@canadalithium.com 
Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020  or 
emailcstewart@renmarkfinancial.com 
Please visit the Canada Lithium website atwww.canadalithium.com or copy the 
following link into your Web browser to view our Photo  
Gallery:http://www.canadalithium.com/s/PhotoGallery.asp. You can also follow 
us on Facebook and Twitter. On our Home Page,  there is also a link to a 
recent video that aired on Discovery  Channel'sDaily Planet program. 
Corporate Office: 401 Bay Street, Suite 2010, Box 118, Toronto, ON, M5H  2Y4 
SOURCE: Canada Lithium Corp. 
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CO: Canada Lithium Corp.
ST: Ontario
NI: MNG LOAN MNA  
-0- Mar/04/2013 12:00 GMT
 
 
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