The company’s current trading symbol, WLC, will remain unchanged and the company’s stock symbol in the U.S. will also remain unchanged as WLCDF. "This listing on the senior TSX board is another milestone in the development of Western Lithium, coinciding with North America’s introduction to electric vehicles using lithium-ion batteries," said Jay Chmelauskas, Western Lithium’s President. "The graduation will open up a broader investor base and expand our access to capital as we continue to advance our Nevada-based source of lithium targeted towards North American and Asian battery manufacturers."
Western Lithium’s shares will be delisted from the TSX Venture Exchange (TSX-V) upon commencement of trading on the TSX.
Western Lithium is developing the Kings Valley, Nevada lithium deposit into potentially one of the world’s largest(1) strategic, scalable and reliable sources of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.
Western Lithium has completed National Instrument 43-101 resource estimates on two portions of the property, one of which is envisioned for the initial stage of mine development. These resources cover part of the mineralization from a historical estimate of 11 million tonnes of lithium carbonate equivalent (LCE) prepared by Chevron Resources Corp. in the 1980s that encompasses all of the King’s Valley lithium lens deposits identified to date, and ranks in size behind deposits in Bolivia (47 million tonnes LCE), Chile (37 million tonnes LCE), North Carolina (14 million tonnes LCE) and the DRC (12 million tonnes LCE).
Source: R. Keith Evans, 2010; Roskill Information Services Ltd., 2009; and company disclosures. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources under National Instrument 43-101, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.