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Canada Lithium Gains Listing on U.S. Trading Platform OTCQX

Newswire.ca - May 18, 2010

TORONTO, May 18, 2010 (Canada NewsWire via COMTEX News Network) --

TSXV: CLQ; OTCQX: CLQMF

Canada Lithium Corp. (OTCQX: CLQMF, TSX.V: CLQ) announced that its shares began trading today on OTCQX(R), operated by Pink OTC Markets Inc. (OTCQX: PINK), the financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market.

Canada Lithium began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.

"Trading on OTCQX signals to the U.S. market Canada Lithium's desire to offer a high level of transparency and convenience to U.S. investors while trading on a credible U.S. market tier," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "We are pleased to welcome Canada Lithium to OTCQX."

Canada Lithium President and CEO Peter Secker said, "We are delighted to join the OTCQX's rapidly expanding list of quality international companies."

The U.S. exposure afforded by OTCQX is also a logical step in the evolution of the Company, he noted.

"We have a major lithium deposit virtually in America's backyard, and we are moving towards production at a time when a secure source of lithium carbonate has become something of a national priority," he said.

Berenbaum Weinshienk PC will serve as Canada Lithium's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements.

About Canada Lithium Corp.

Canada Lithium Corp. (OTCQX: CLQMF, TSX.V: CLQ) has completed a prefeasibility study and is now beginning a definitive Feasibility Study on its Quebec Lithium Project near Val d'Or, Quebec. If current environmental, engineering, metallurgical, and geological studies are positive, the project could provide a secure North American supply of battery-grade lithium carbonate to feed the growing demand for lithium carbonate in hybrids and electric vehicles. Mine construction is anticipated in 2011.

About OTCQX

The OTCQX Marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality controlled OTCQX listing platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX-listed companies, visit www.otcqx.com.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. (OTCQX: PINK) operates the leading electronic interdealer quotation and trading system and facilitates trading in over 9,000 securities not listed on a U.S. stock exchange. Pink OTC Markets segments these securities into three tiers: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheets marketplace. These three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Our products and services promote market transparency, improve price discovery, facilitate regulatory compliance, and increase the quality of issuer disclosure, to the benefit of all OTC market participants. To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at info@pinkotc.com.

Please visit the Canada Lithium website at www.canadalithium.com.

Corporate Office: 401 Bay St., Suite 2010, P.O. Box 118, Toronto, Ont. M5H 2Y4

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.

Forward-looking Information

The statements made in this press release may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of Canada Lithium Corp. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of Canada Lithium Corp. management as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. Canada Lithium Corp. disclaims any obligation to update information contained in any forward-looking statement.

%SEDAR: 00007891E

SOURCE: CANADA LITHIUM CORP.

Peter Secker, President and CEO, (416) 361-2821; Olav Svela, Director, Investor Relations, (416) 361-2821, osvela@canadalithium.com; Dan Symons, Renmark Financial Communications Inc., (514) 939-3989, dsymons@renmarkfinancial.com

Read Full Article from Newswire.ca

- Posted: 2010-05-18 09:14:05


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