United Lithium Corp. Receives Cease Trade Order
CSE: ULTH | OTC: ULTHF | FWB: 0UL
United Lithium Corp. Receives Cease Trade Order
Vancouver, British Columbia
July 26, 2021 – United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) (“ULTH” or the “Company”) discloses today that, following a review by the British Columbia Securities Commission in connection with a recently-filed short form base shelf prospectus, the British Columbia Securities Commission has determined that the Company’s previously filed material change report dated October 16, 2020 (the “Material Change Report”) in respect of the amalgamation between its wholly owned subsidiary, 1263391 B.C. Ltd. (“126”), and 1257590 B.C. Ltd. (“125”), pursuant to which the Company issued 11,500,000 shares to former shareholders of 125 and indirectly acquired 125’s option to acquire up to 100% of the Barbara Lake Lithium property, was incomplete.
As a result, the British Columbia Securities Commission issued a cease trade order (the “Cease Trade Order”) against the Company, and its securities have been halted from trading on the Canadian Securities Exchange. The Company is actively working to resolve this matter and will provide further updates in due course
On Behalf of The Board of Directors Michael Dehn Chief Executive Officer
Investor Relations (604) 259-0889 [email protected]
About United Lithium Corp.
United Lithium Corp. (CSE: ULTH | OTC: ULTHF) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.
The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at www.unitedlithium.com or under its profile on SEDAR at www.sedar.com.
Forward-Looking Statements Caution. This news release may contain forward-looking statements. All statements included in this release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
CSE: ULTH