Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - INFINITE ORE CORP. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces it will commence operations under the name Imagine Lithium Inc. ("Imagine Lithium"), effective today. The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI".
The brand, Imagine Lithium, reflects the Company's focus on lithium exploration in the safe, environmentally conscious mining jurisdiction of Ontario, Canada. Imagine the economic stimulus and social benefits that lithium exploration and a future lithium mine can bring to the Nipigon region of Ontario. Imagine the environmental benefits that lithium brings to the global community as the world adopts clean electric vehicles powered by lithium-ion batteries. Imagine a global electrification strategy that uses lithium batteries to bring clean, reliable electricity to communities far and wide, fundamentally enhancing quality of life. The future is here. Imagine the possibilities. Imagine Lithium.
The new corporate website can be found at www.imaginelithium.com. Please visit the site to learn more about the Jackpot lithium property, where a 3,000 m drill program will be testing numerous known and newly identified dikes on the property. The program is expected to commence in February 2022.
In addition, the Company is pleased to announce the addition of Arvin Ramos as Chief Financial Officer as Mr. John Masters transitions into retirement. Mr. Ramos holds a degree in commerce and is a member of the Chartered Professional Accountants of Ontario. Mr. Ramos has over 17 years of business experience, having supported a broad range of industries, including mining, technology, and banking.
J.C. St. Amour, President and CEO of Imagine Lithium commented, "I am excited to be launching our new brand today. It's an electrifying time in the company as we refocus on our flagship asset, the Jackpot Lithium property. My team and I have been planning our winter exploration season and we are eager to get started and begin to unlock the lithium potential at Jackpot. I also am excited to be working with Arvin, a seasoned accounting professional, as John winds down his career in preparation for retirement. It has been a pleasure to work with John and I am happy to report that he will continue to assist the company on corporate matters as a consultant."
In connection with Mr. Ramos joining the Company, Imagine Lithium also wishes to announce that it has granted him 300,000 options to pursuant to its stock option plan. The options are exercisable for a period of 2 years from the date of grant at a price of $0.155 per option.
ABOUT IMAGINE LITHIUM INC.
Imagine Lithium Inc. is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ontario, which contains known pegmatite showings, including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont.
ON BEHALF OF THE BOARD
J.C. St-Amour, President
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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 release.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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