American Lithium Confirms Plan to Close Previously Announced Financing.
TSXv │ Li OTCQB │ LiACF FRANKFURT │ 5LA
AMERICAN LITHIUM CONFIRMS PLAN TO CLOSE PREVIOUSLY ANNOUNCED FINANCING.
Vancouver, BC, September 17, 2019 – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt:
5LA;) (“American Lithium” or the “Company”) announces it intends to finalize participation in its previously announced non-brokered private placement of units (each, a “Unit”) and intends to proceed with closing prior to September 30th. The Company is offering up to 7,000,000 Units, at a price of $0.15 per Unit, for gross proceeds of up to $1,050,000. Each “Unit” consists of one common share of the Company, and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.25 for a period of twenty-four months.
The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Placement. Insiders of the Company will also be participating in a portion of the Placement. All securities to be issued by the Company in connection with the Placement will be subject to a fourmonth-and-one-day statutory hold period imposed by applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange”).
Completion of the Placement remains subject to the final approval of the Exchange. To facilitate completion of the Placement, the Exchange has granted an extension of the applicable deadline for the filing of final materials in respect of the Placement through until September 30th.
About American Lithium Corp.
American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The Company is currently exploring and developing two projects, the FLV and TLC Projects located in the highly prospective Esmeralda Lithium District in Nevada. These projects, within 30 miles of each other, are close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle’s Silver Peak Lithium Mine, and several advancing deposits and resources including Ioneer Ltd.'s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp’s Clayton Valley Project.
The technical information within this news release has been reviewed and approved by Michael Collins, P.Geo., a consultant to the Company and a qualified person under National Instrument 43-101.
For more information, please contact the Company at [email protected] or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this release is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in American Lithium's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.