American Lithium Corp. (“American Lithium” or the “Company”)
(TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce it
has received approval to list its common shares (the “Common
Shares”) on the Nasdaq Capital Market (“Nasdaq”). Trading is
scheduled to commence on Nasdaq at the open of markets on Tuesday
January 10, 2023, under the symbol “AMLI”. Concurrently with the
listing, the Common Shares will cease to be quoted on the OTCQB®
Venture Market but will continue to trade on the TSX Venture
Exchange.
Simon Clarke, CEO of American Lithium stated,
“We are very pleased to be joining Nasdaq as this listing marks a
major milestone for the Company and is a testament to the
dedication and hard work of our team. We are confident this listing
will elevate American Lithium’s profile in the United States
capital markets by providing greater visibility and exposure to a
broader institutional and retail investor base.”
The Nasdaq listing does not include any capital
raising, as American Lithium currently has a cash balance of
approximately $34 million and is fully financed for its activities
and work programs this year.
Existing shareholders will be able to trade the
Company’s Common Shares on Nasdaq following completion of the
listing.
The Company's listing on Nasdaq remains subject
to satisfaction of all applicable listing and regulatory
requirements, including, but not limited to, the declaration of
effectiveness of the Company's Form 40-F Registration Statement
registering the Common Shares with the United States Securities and
Exchange Commission (the "SEC").
About American
LithiumAmerican Lithium, a member of the TSX Venture 50,
is actively engaged in the development of large-scale 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 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-stage projects in southeastern Peru. Both Falchani and
Macusani have been through robust preliminary economic assessments,
exhibit strong significant expansion potential and enjoy strong
community support. Pre-feasibility work has now commenced at
Falchani.
The TSX Venture 50 is a ranking of the top
performers in each of 5 industry sectors in the TSX Venture
Exchange over the last year.
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com for project update videos
and related background information.
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On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
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.
Cautionary Statement Regarding Forward
Looking InformationThis news release contains certain
forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of
applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding the ability to appeal the
judicial ruling, and any other statements regarding the business
plans, expectations and objectives of American Lithium.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend", “indicate”, “scheduled”, “target”, “goal”, “potential”,
“subject”, “efforts”, “option” and similar words, or the negative
connotations thereof, referring to future events and results.
Forward-looking statements in this press release include, without
limitation, statements relating to the timing of the listing of the
Common Shares on Nasdaq; the benefits to the Company and its
shareholders of listing the Common Shares on Nasdaq, the date that
the Common Shares will begin trading on Nasdaq, the continued
trading of the Common Shares on the TSX Venture Exchange, the
Company’s ability to fund its activities and work programs with its
current capital and the Company's business and strategic plans.
Forward-looking statements are based on the
current opinions and expectations of management are not, and cannot
be, a guarantee of future results or events. Although American
Lithium believes that the current opinions and expectations
reflected in such forward-looking statements are reasonable based
on information available at the time, undue reliance should not be
placed on forward-looking statements since American Lithium can
provide no assurance that such opinions and expectations will prove
to be correct. All forward-looking statements are inherently
uncertain and subject to a variety of assumptions, risks and
uncertainties, including risks, uncertainties and assumptions
related to: American Lithium’s ability to achieve its stated goals;
risks and uncertainties relating to the COVID-19 pandemic and the
extent and manner to which measures taken by governments and their
agencies, American Lithium or others to attempt to reduce the
spread of COVID-19 could affect American Lithium, which could have
a material adverse impact on many aspects of American Lithium’s
businesses including but not limited to: the ability to access
mineral properties for indeterminate amounts of time, the health of
the employees or consultants resulting in delays or diminished
capacity, social or political instability in Peru which in turn
could impact American Lithium’s ability to maintain the continuity
of its business operating requirements, may result in the reduced
availability or failures of various local administration and
critical infrastructure, reduced demand for the American Lithium’s
potential products, availability of materials, global travel
restrictions, and the availability of insurance and the associated
costs; the judicial appeal process in Peru, and any and all future
remedies pursued by American Lithium and its subsidiary Macusani to
resolve the title for 32 of its concessions; risks regarding the
ongoing Ontario Securities Commission regulatory proceedings; the
ongoing ability to work cooperatively with stakeholders, including
but not limited to local communities and all levels of government;
the potential for delays in exploration or development activities
due to the COVID-19 pandemic; the interpretation of drill results,
the geology, grade and continuity of mineral deposits; the
possibility that any future exploration, development or mining
results will not be consistent with our expectations; risks that
permits will not be obtained as planned or delays in obtaining
permits; mining and development risks, including risks related to
accidents, equipment breakdowns, labour disputes (including work
stoppages, strikes and loss of personnel) or other unanticipated
difficulties with or interruptions in exploration and development;
risks related to commodity price and foreign exchange rate
fluctuations; risks related to foreign operations; the cyclical
nature of the industry in which American Lithium operates; risks
related to failure to obtain adequate financing on a timely basis
and on acceptable terms or delays in obtaining governmental
approvals; risks related to environmental regulation and liability;
political and regulatory risks associated with mining and
exploration; risks related to the uncertain global economic
environment and the effects upon the global market generally, and
due to the COVID-19 pandemic measures taken to reduce the spread of
COVID-19, any of which could continue to negatively affect global
financial markets, including the trading price of American
Lithium’s shares and could negatively affect American Lithium’s
ability to raise capital and may also result in additional and
unknown risks or liabilities to American Lithium; failure to meet
Nasdaq listing requirements; failure to obtain effectiveness of the
registration statement filed with the SEC; delays in the SEC review
of the registration of securities with the SEC; and the Company's
Nasdaq listing being unsuccessful. Other risks and uncertainties
related to prospects, properties and business strategy of American
Lithium are identified in the “Risks and Uncertainties” section of
Plateau’s Management’s Discussion and Analysis filed on January 19,
2021, in the “Risk Factors” section of American Lithium’s
Management’s Discussion and Analysis filed on January 29, 2021, and
in recent securities filings available at www.sedar.com. Actual
events or results may differ materially from those projected in the
forward-looking statements. American Lithium undertakes no
obligation to update forward-looking statements except as required
by applicable securities laws. Investors should not place undue
reliance on forward-looking statements. Cautionary Note Regarding
Macusani Concessions Thirty-two of the 151 concessions held by
American Lithium’s subsidiary Macusani, are currently subject to
Administrative and Judicial processes (together, the “Processes”)
in Peru to overturn resolutions issued by INGEMMET and the Mining
Council of MINEM in February 2019 and July 2019, respectively,
which declared Macusani’s title to 32 of the concessions invalid
due to late receipt of the annual validity payments. In November
2019, Macusani applied for injunctive relief on 32 concessions in a
Court in Lima, Peru and was successful in obtaining such an
injunction on 17 of the concessions including three of the four
concessions included in the Macusani Uranium Project PEA. The grant
of the Precautionary Measure (Medida Cautelar) has restored the
title, rights and validity of those 17 concessions to Macusani
until a final decision is obtained at the last stage of the
judicial process. A Precautionary Measure application was made at
the same time for the remaining 15 concessions and was ultimately
granted by a Court in Lima, Peru on March 2, 2021 which has also
restored the title, rights and validity of those 15 remaining
concessions to Macusani, with the result being that all 32
concessions are now protected by Precautionary Measure (Medida
Cautelar) until a final decision on this matter is obtained at the
last stage of the judicial process. The favourable judge’s ruling
confirming title to all 32 concessions from November 3, 2021
represents the final stage of the current judicial process.
However, this ruling has recently been appealed by MINEM and
INGEMMET. American Lithium has no assurance that the outcome of
these appeals will be in the Company’s favour.
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