ILC Critical Minerals extends private placement deadline to June 26

ILC Critical Minerals Ltd. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH0) extended the closing date of its non-brokered private placement to June 26, 2026, according to a company statement. The offering was originally announced on April 8, 2026.

The private placement comprises up to 50 million common shares at CAD$0.02 per share for gross proceeds of up to CAD$1 million. The company plans to allocate $500,000 for exploration programs on the Raleigh Lake and Wolf Ridge Projects, $275,000 for general working capital, and $225,000 for management and director fees.

Closing remains subject to acceptance by the TSX Venture Exchange. Securities issued will be subject to a four-month hold period under Canadian securities laws. Some directors and insiders are expected to participate in the offering, constituting related party transactions under Multilateral Instrument 61-101. The company is exempt from formal valuation or minority shareholder approval requirements as the fair market value of shares to be issued to insiders does not exceed 25% of market capitalization.

ILC also announced a one-year extension of its advertising campaign with Dig Media Inc., operating as Investing News Network. The agreement costs $25,000, payable in quarterly installments of $6,250. INN currently holds no securities in the company.

The Vancouver-based company, formerly International Lithium Corp., operates exploration projects in Ontario targeting lithium, rubidium and copper. Its Raleigh Lake Project encompasses 32,900 hectares and published a preliminary economic assessment in December 2023 showing a post-tax net present value of CAD$342.9 million for lithium resources.

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