American Lithium announces $20M Private Placement
14 October 2021 - 11:00AM
American Lithium Corp. (“
American Lithium” or
the “
Company”) (TSX-V:LI) (OTCQB:LIACF)
(Frankfurt:5LA1) is pleased to announce that it has entered into an
agreement with Eight Capital, on behalf of a syndicate of agents
including Echelon Wealth Partners Inc. and TD Securities Inc., as
co-lead agents and joint bookrunners (together the
“
Agents”) pursuant to which the Corporation has
launched a private placement of up to 7,548,000 units (the
“
Units”), at an offering price of $2.65 per Unit
(the “
Issue Price”), for aggregate gross proceeds
of up to $20,002,200 (the “
Offering”).
Each Unit will be comprised of one common share
in the capital of the Company (a “Share”) and
one-half of one common share purchase warrant (each whole warrant,
a “Warrant”). Each Warrant will entitle the holder
thereof to purchase one Share at an exercise price of $4.00 per
Share, for a period of 24 months following the closing of the
Offering.
The Corporation has also granted the Agents an
option to offer for sale up to an additional 1,887,000 Units at the
Issue Price, exercisable at any time until 48 hours prior to
Closing, to cover over-allotments, if any.
The gross proceeds of the Offering will be used
for exploration and development of the Company’s TLC Project,
Falchani Project and the Macusani Project, and for working capital
and general corporate purposes.
The securities being offered have not, nor will
they be registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons in the
absence of U.S. registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an
offer for sale of securities in the United States.
The Offering is scheduled to close on or about
November 3, 2021 and is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory and
other approvals including that of the TSX Venture Exchange. All
securities to be issued in connection with the Offering will be
subject to a statutory hold period expiring four-months-and-one-day
following closing of the Offering.
About American Lithium
American Lithium, a member of the TSX Venture
50, is actively engaged in the acquisition, exploration and
development of lithium projects within mining-friendly
jurisdictions throughout the Americas. The Company is currently
focused on enabling the shift to the new energy paradigm through
the continued exploration and development of its strategically
located TLC lithium claystone project in the richly mineralized
Esmeralda lithium district in Nevada as well as continuing to
advance its Falchani lithium and Macusani uranium development
projects in southeastern Peru. Both Falchani and Macusani have been
through preliminary economic assessments, exhibit strong additional
exploration potential and are situated near significant
infrastructure.
The TSX Venture 50 is a ranking of the top
performers in each of industry sectors in the TSX Venture Exchange
over the last year.
For more information, please contact the Company
atinfo@americanlithiumcorp.com or visit our website at
www.americanlithiumcorp.com for project update videos and related
background information.
Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For further information, please contact:
American Lithium Corp.
Email: info@americanlithiumcorp.com
Website: www.americanlithiumcorp.com
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 press 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.
Statements in this release that are forward-looking information,
include, without limitation, use of proceeds from the placement.
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
Annual Information Form and 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.
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