Canada Lithium announces grant of option to upsize convertible unsecured subordinated debenture financing

Canada Lithium announces grant of option to upsize convertible unsecured 
subordinated debenture financing 
TORONTO, May 10, 2013 /CNW Telbec/ - Canada Lithium Corp. ("Canada Lithium" or 
the "Company") (TSX: CLQ) (U.S. OTC: CLQMF) today announced that, in 
connection with the convertible unsecured subordinated debenture financing 
previously announced on April 29, 2013, the Company has granted to Dundee 
Securities Ltd., on behalf of a syndicate of underwriters including Primary 
Capital Inc., as co-lead underwriter, and Jones, Gable & Company Limited 
(collectively, the "Underwriters"), an option (the "Option") to purchase an 
additional 6,446 convertible unsecured subordinated debentures of the Company 
(the "Debentures") at a price of $1,000 per Debenture. The Option is 
exercisable in whole or in part, in the sole discretion of the Underwriters, 
at any time up to the closing of the private placement. If the Option is 
exercised in full, gross proceeds to the Company from the offering would be 
$27,556,000 (the "Offering"). These additional Debentures are being offered 
and would be issued on the same terms as set forth in the April 29, 2013 press 
release regarding the private placement of the Debentures. The Company 
intends to use the net proceeds from the Offering for working capital and 
general corporate purposes. 
For additional information on the terms of the Debentures and the Offering, 
please refer to the Company's previous press release dated April 29, 2013. 
The Closing Date of the Offering is anticipated to occur on or about May 15, 
2013 and is subject to customary closing conditions, including the receipt of 
applicable regulatory approvals including approval of the Toronto Stock 
All securities issued in connection with the Offering will be subject to a 
four (4) months plus one (1) day hold period from the Closing Date, pursuant 
to Canadian securities laws. The Offering is being conducted on a private 
placement basis pursuant to exemptions from the prospectus requirements of 
applicable securities laws in one or more provinces of Canada. The 
securities mentioned herein have not been and will not be qualified by 
prospectus for sale to the public under applicable Canadian securities laws. 
The securities mentioned herein will be subject to transfer and selling 
restrictions in certain jurisdictions, including the United States and Canada. 
This news release does not constitute an offer of securities for sale or the 
solicitation of an offer to buy the securities in the United States or any 
other jurisdiction. The securities being offered have not been, nor will they 
be, registered under the Unites States Securities Act of 1933, as amended, and 
such securities may not be offered or sold within the United States absent 
U.S. registration or an applicable exemption from U.S. registration 
requirements and in compliance with applicable state securities laws. 
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. For more information 
regarding the Company, please refer to the Company's public filings available 
at and including, in particular, the 
Company's Management Discussion and Analysis for the year ended December 31, 
2012 and its Annual Information Form for the year ended December 31, 2012. 
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 the completion of the Offering, the exercise of the 
Option, the receipt of requisite regulatory approvals, including the approval 
of the Toronto Stock Exchange and the use of proceeds, in addition 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, investors and others 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. For more 
information on the risks, uncertainties and assumptions that could cause the 
Company's actual results to differ from current expectations, please refer to 
the Company's public filings available at and including, in particular, the "Risks and Uncertainties" 
section of the Company's Management Discussion and Analysis and the "Risk 
Factors" section of the Company's Annual Information Form for the year ended 
December 31, 2012. 
Peter Secker, CEO and Deputy Chairman (416) 361-2821 Olav Svela, Director, 
Investor Relations (416) 361-2821 or (416)  479-4355 or 
SOURCE: Canada Lithium Corp. 
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CO: Canada Lithium Corp.
ST: Ontario
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