News
Mar. 25, 2009
Western Lithium Grants Stock Options and Engages RK Equity as Liaison to International Institutional Investors
Vancouver, Canada: Western Lithium Canada Corporation (“Western Lithium” or the “Company”) (TSX-V:WLC) has granted an aggregate of 550,000 options to purchase Western Lithium common shares to certain employees and consultants under Western Lithium’s stock option plan. The options are exercisable into common shares at a price of $0.54 per share, will vest in stages over 18 months and expire March 17, 2014. The granting of these options is subject to the approval of the TSX Venture Exchange. Of the 550,000 options granted, 200,000 were granted to Cindy Burnett and 200,000 were granted to employees of RK Equity Advisors LLC, who perform investor relations activities for Western Lithium.
Western Lithium has engaged RK Equity Advisors LLC, a global advisory firm with offices in New York, London and Johannesburg, that specializes in attracting long-term institutional ownership.
Other than providing services pursuant to the Agreement, RK Equity has no direct or indirect interest in Western Lithium or its securities or any right to acquire an interest in the Company. The Company has agreed to pay RK Equity a monthly retainer of US$6,500 per month on a month to month basis.
The TSX Venture Exchange has neither approved or disapproved of the contents of this press release. 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 press release.
Western Lithium is developing the Kings Valley, Nevada lithium deposit into potentially one of the world’s largest strategic, scalable and reliable sources of battery grade lithium carbonate. The company is positioning itself as a U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of mobile electronics and hybrid/electric vehicles.
For further information contact:
Western Lithium Canada Corporation
Cindy Burnett, Investor Relations
Telephone: 604-639-2144
Email: info@westernlithium.com
Website: www.westernlithium.com
Forward Looking Statements
Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the Ontario Securities Act. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information.