ILC Critical Minerals Ltd. Announces Private Placement

Core Viewpoint - ILC Critical Minerals Ltd. is conducting a non-brokered private placement to raise up to CAD$2,500,000 by issuing 100,000,000 common shares at CAD$0.025 per share, with proceeds aimed at expanding operations in Southern Africa and Canada, as well as general working capital [1][2]. Use of Proceeds - The proceeds from the private placement will be allocated as follows if the full amount is raised: - Final payment for acquiring Lepidico Mauritius (if option exercised): CAD$450,000 (18%) - Exploration expenditure in Namibia and Canada: CAD$950,000 (38%) - Management fees to non-arms length parties: CAD$440,000 (17.6%) - Working capital: CAD$660,000 (26.4%) [3]. Company Operations and Strategy - ILC Critical Minerals Ltd. focuses on exploration activities in Ontario, Canada, and aims to expand into Southern Africa, particularly through the Karibib project in Namibia, which contains lithium, rubidium, and cesium [7][9]. - The company is strategically positioned to benefit from the increasing demand for critical minerals driven by the transition to electric vehicles and renewable energy [8][9]. - The primary focus for the next decade is to generate revenue from lithium and rubidium while contributing to environmental sustainability [10][16]. Project Highlights - The Raleigh Lake Project in Ontario is the most significant project, covering 32,900 hectares, with a Preliminary Economic Assessment indicating a post-tax NPV of CAD$342.9 million and a post-tax IRR of 44.3% based on a spodumene price of US$2,350 per tonne [14]. - The company has also applied for Exploration Permits in Zimbabwe, indicating a commitment to expanding its portfolio in Southern Africa [11][13]. Market Context - The demand for lithium and other critical minerals is expected to rise due to the growth of high-tech rechargeable batteries and the push for a greener economy [16]. - ILC aims to position itself as a preferred developer of lithium and critical minerals, capitalizing on the increasing global focus on self-sufficiency in critical mineral supplies [9][16].