Lithium Corp

2009-2010: From shell to lithium explorer

Lithium Corp began as Utalk Communications, an inactive Nevada shell company. In September 2009 it agreed to buy a private firm, Nevada Lithium Corporation, by reverse merger, a deal that lets a private business take over a listed shell, and to rename itself Lithium Corporation. The deal closed in October 2009. The company issued 12.35 million shares for all of Nevada Lithium's stock, ceased to be a shell and changed auditors. Its flagship was the Fish Lake Valley lithium brine prospect in Nevada.

In March 2010 it closed a $2 million private placement, selling 2 million units at $1.00 each to three non-US investors. Each unit was one share plus a warrant. The share count stood at about 62.9 million at the end of 2010. The record for 2011 and 2012 holds no major events, though the count rose to about 74.7 million by the end of 2012.

2013-2015: Diversifying, and a sale that failed

In April 2013 the company took an option, through a related-party agreement with its own president, Tom Lewis, to buy the Mount Heimdal flake graphite property in British Columbia. It was the first move beyond lithium. In April 2014 it took a 25% stake in a new joint venture, Summa LLC, with All American Resources and TY & Sons Investments, contributing $125,000 in cash and services.

In August 2014 Lithium agreed to sell its Fish Lake Valley, San Emidio and BC Sugar properties to Pathion Inc. Pathion repeatedly missed the closing schedule. By December 2014 Lithium had eased some default terms rather than walk away. In January 2015 it terminated the agreement and kept all three properties.

2016-2026: Farm-outs and an equity line

Having failed to sell, Lithium tried partnerships. In March 2016 it signed an earn-in agreement, where a partner earns a share by paying and spending on exploration, letting 1032701 B.C. Ltd earn up to 80% of Fish Lake Valley through $300,000 in payments and shares and $1.1 million of work over three years. In May 2016 it struck a similar deal on San Emidio with 1067323 Nevada Ltd and 1067323 B.C. Ltd: up to 80% for $100,000, shares and $600,000 of work.

In January 2021 the company signed a $10.3 million equity line with Lincoln Park Capital, which gave it the right, but not the obligation, to sell shares at a discount over three years. It drew an initial $160,000 and issued 1.4 million commitment shares. In May 2021 it signed a letter of intent with Altura Mining, which could earn up to 60% of Fish Lake Valley through staged payments and $2 million of work over four years. The 2016 Fish Lake deal appears never to have completed, since Lithium still held the property outright.

As of May 2026 the company had about 117.9 million shares on issue. The Altura deal was at letter-of-intent stage in the record, and the later status of the San Emidio earn-in, the British Columbia graphite ground and Summa remained unconfirmed.