Canada Lithium Inks Off-Take Agreement with Marubeni for Lithium Carbonate

Canada Lithium (TSX:CLQ) has signed a three-year Distributorship Agreement with Japanese trading company, Marubeni. As part of the agreement, Canada Lithium will distribute battery-grade lithium carbonate exclusively to Marubeni, with a minimum of 2,000 tonnes of lithium carbonate will be purchased in 2013. Marubeni has the option to increase the off-take to 5,000 tonnes by 2016.

As quoted in the press release:

The first shipment to Marubeni will commence in July 2013. Marubeni will purchase the lithium products Free on Rail (FOR) in Val d’Or, Québec.

Click here to view the full press release.