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International Lithium Partner China's Jiangxi Ganfeng Lithium Signs MOU With Boston-Power Inc.

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International Lithium Partner China's Jiangxi Ganfeng Lithium Signs MOU With Boston-Power Inc.

Our strategic partner Ganfeng Lithium continues to build vertically integrated Lithium business in China. Now it is gaining access to the latest lithium batteries technology. International Lithium is the part of this international integration in order to secure the supply of lithium.

 

International Lithium: Kirill Klip - Q And A From ILC On Our Strategic Partnership With Ganfeng Lithium.

Somebody has posted my reply to a number of questions provided by one of our shareholders on the Stockhouse Board and judging by the number of readers I think that it will be appropriate to share it with all my followers now. All these answers are based on the previously properly disclosed public information, as usual.

Please carefully read my legal disclaimer and remember that the latest information you can always find on International Lithium website and in all our regulatory filings. All my discussions can contain the forward looking statements and should not be relied upon in any of your investment decisions. Always consult your investment advise and do not hesitate contact us for any additional information.

International Lithium: Presentation Of Our Strategic Partner - Ganfeng Lithium.
I would like to share with you today the presentation about our strategic partner from China - Ganfeng Lithium. This partnership is the very important step for International Lithium and solidifies our business relationships. This company is one of the top Lithium Materials producers in the world. We have the new page on our website devoted to our strategic partner and you can follow the link for more information.
Ganfeng Lithium has developed technology to process the raw materials that we aim to produce and has an expanding customer base world-wide for their finished products. This Vertically Integrated Business structure gives International Lithium security in the market and expertise for materials processing side of future feasibility studies. It also gives International Lithium confidence in moving the projects forward as our partner is actively pursuing vertical integration within their business model. Read more."
Q and A from ILC read more.

Reuters:

BRIEF-China's Jiangxi Ganfeng Lithium signs MOU with Boston-Power Inc

Nov 5 (Reuters) - Jiangxi Ganfeng Lithium Co Ltd

* Says signs MOU with Boston-Power Inc, shares to resume trading on Nov 6

Source text in Chinese: bit.ly/1EhLFSL

Further company coverage: (Reporting by Hong Kong and Singapore newsrooms)

From Google translation:

Stock Code: 002460 Stock Abbreviation: Ganfeng Lithium Number: Pro 2014-078
Jiangxi Feng Li Industrial Co., Ltd. has signed on with the Boston battery Supplementary Memorandum of Understanding and the resumption announcement
Special Note: The company's shares will resume trading market opened November 6, 2014.
Jiangxi Feng Li Industrial Co., Ltd. (hereinafter referred to as the "Company" or "Ganfeng Lithium") disclosed on November 5, 2014 "on the company signed with the Boston battery MOU Notice" (Announcement Number: Pro 2014- information disclosure requirements related to 077), according to the requirements of the Shenzhen stock Exchange and the "Stock listing Rules", "SME board listed companies standardize operational guidelines," etc., are supplementary notice as follows:
A summary of the transactions
November 3, 2014, the Company and Boston Battery Company (Boston-Power, Inc.) (Hereinafter referred to as "Boston Battery") signed a "Memorandum of Understanding", the company intends to result in battery Boston financial and legal due diligence under satisfactory conditions, according to the purchase price of $ 0.4449282 per share by way of capital [3000-6000] million US dollars of preferred shares subscribed Boston battery. After the capital increase, the company holds about 5% -10 Boston battery% stake in the equity ratio will ultimately depend on the current round of capital increase participation in Boston batteries actual investment amount other investors.
As of this announcement, the Boston battery is not listed.
The Company and all members of the Board to ensure the content of this announcement is true, accurate and complete, not false or misleading statements or material omissions.
Second, the definition of the Boston battery Preferred Stock
Boston battery preference shares (hereinafter referred to as "BB-2 轮 Preferred Shares") is a Boston battery replenishment round of voting rights issue and have a certain priority claim rights shares.
BB-2 轮 voting preferred shares will participate in the Boston battery important matters of common stock in accordance with the number of shares voting rights which can be converted. Boston battery before listing any time, BB-2 轮 preferred shareholders entitled to all or part of its holdings of preferred shares converted into ordinary shares of the Boston battery (1 preferred shares into ordinary shares at least one). When the battery listed in Boston, BB-2 轮 preferred stock will be automatically converted to ordinary shares of Boston battery (1 preferred shares into ordinary shares at least one).
If the battery in Boston was acquired prior to listing or dissolution, BB-2 轮 preferred shareholders will have priority over other shareholders (including common shareholders and preferred shareholders other rounds) to get the equivalent amount of its investment cost allocation, and to subsequently immediately in accordance with the prevailing conversion ratio of (1 preferred shares into ordinary shares at least one) into ordinary shares and to participate in the follow-up assignment until BB-2 轮 preferred shareholders receive the equivalent of three times the amount allocated to its investment costs (including the recovery of the principal portion). BB-2 轮 preferred shareholders also have the option at any time to convert the preferred shares held by the Boston battery participate in the distribution of common shares.
Third, the financial data of the last year Boston battery another issue: Unit: yuan (As of November 5, 2014 $ 1 = 6.15 yuan exchange rate)
2013 (Audited)
January-September 2014 (Unaudited)
Operating income
4,305
11,685
Net profit
-19,618.5
-17,712
December 31, 2013 (Audited)
September 31, 2014 (Unaudited)
Total assets
115,804.5
117,834
Net assets 21,156 29,212.5
Fourth, the main contents of the memorandum of understanding will increase the battery section of Boston for the expansion of production capacity, Ganfeng Lithium Electric will acquire Boston
Pool a board seat, whereby the Boston battery becomes seven board seats. In addition to the supplemental content, other content are unchanged, thereby to bring the majority of investors
Sorry for any inconvenience. The company's shares will resume trading market opened November 6, 2014. Please majority of investors
Rational investment, investment risks. Notice is hereby given.
Jiangxi Feng Li Industrial Co., Ltd. Board
November 6, 2014"

Disclosure: The author is long TRRXF, ILHMF.