ILI Imagine Lithium Inc

ILI TECHNOLOGIES (2002) CORP. (the "Corporation") (TSX VENTURE:ILI). The
Corporation is pleased to announce that it has closed the final tranche of its
previously announced non-brokered private placement. The Corporation issued
2,470,167 units of the Corporation (the "Units"), at a price of $0.15 per Unit,
for aggregate gross proceeds of $370,525. Each Unit consists of one common share
of the Corporation (the "Common Shares") and one-half of one share purchase
warrant (the "Warrant"). Each whole Warrant entitles the holder thereof to
purchase one Common Share at an exercise price of $0.25 for a period of 2 years,
provided that, in the event the closing price of the Common Shares is not less
than $0.40 for a period of 10 consecutive trading days, the expiry date of the
Warrants shall be accelerated to 30 days after the Corporation issues a press
release announcing the acceleration of the expiry date.


The Corporation paid fees to brokers and finders by way of a cash payment of
$51,873.50 and by the issuance of 345,823 broker's warrants. Each broker's
warrant entitles the holder to purchase one Unit at a price of $0.15 until March
7, 2013.


The Corporation intends to use the net proceeds from the private placement for
expansion of the CBM division located in Gillette, USA and the Corporation's
marketing initiatives in Mexico, as well as for general working capital.


The Common Shares and Warrants are subject to a four (4) month hold period
expiring on July 8, 2011.


We seek safe harbour.

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