Ameriwest Lithium Announces Closing of Life Non-Brokered Private Placement
LEGAL_41238826.1
AMERIWEST LITHIUM INC.
AMERIWEST LITHIUM ANNOUNCES CLOSING OF LIFE NON-BROKERED PRIVATE
PLACEMENT
Vancouver, BC – May 1, 2023: Ameriwest Lithium Inc. (the “Company” or “Ameriwest”) (CSE:
AWLI) is pleased to announce that it has closed its previously disclosed non- brokered private
placement (the “Offering ”). The Offering consisted of 12,500,000 units of the Company (the
“Units”) at $0.20 per Unit for aggregate gross proceeds of $2,500,000.
Each Unit consists of one common share in the capital of the Company (each, a “Share”) and one
common share purchase warrant ( each, a “Warrant”). Each Warrant entitles the holder thereof
to acquire one additional share ( each, a “Warrant Share” ), at an exercise price of $ 0.25 per
Warrant Share until May 1, 2025.
The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of
National Instrument 45- 106 Prospectus Exemptions and, therefore, the securities issued in the
Offering are not subject to a hold period in ac cordance with applicable Canadian securities laws.
There is an offering document related to the Offering that is available under the Company’s profile
at www.sedar.com and at https://ameriwestlithium.com/.
The securities issued pursuant to the Offering 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 news release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in the United States or in any other jurisdiction in whic h such offer, solicitation or sale
would be unlawful.
About Ameriwest Lithium Inc.
Ameriwest Lithium Inc. is a Canadian -based exploration company with a focus on identifying
strategic lithium mineral resource projects for exploration and development. The Company is
currently focused on exploring its Thompson Valley lithium property located in Yavapai County,
Arizona. Ameriwest owns 100 percent of the property which covers 6,881 acres. As stated in the
Company’s news release dated January 31, 2023, the Company entered into a n option agreement
with Nova Lithium Corp (“Nova”) whereby Nova can earn a 51 percent interest in the Edwards
Creek Valley project encompassing 22,210-acres. Ameriwest Lithium also owns 100 percent of
-2-
5,640-acre Little Smoky Valley property, 13,580-acre Railroad Valley property and its 7,600-acre
Deer Musk East property in Nevada.
On Behalf of the Board of Directors
Glenn Collick
Chief Operating Officer and director
For further information, please contact:
Glenn Collick
Chief Operating Officer and a director
(778) 868-2226
The Canadian Securities Exchange has not in any way passed upon the merits of the matters
referenced herein and has neither approved nor disapproved the contents of this news release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking inf ormation. Forward‐looking
information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”,
“may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and
unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those
anticipated in suc h forward‐looking information. The Company’ s actual results could diffe r materially from those
anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries
in which the Company operates, prevailing economic conditions, changes to the Company’ s strategic growth plan s,
and other factors, many of which are beyond the control of the Company. The Company believes that the expectations
reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will
prove to be correc t and such forward‐looking information should not be unduly relied upon. Any forward‐looking
information contained in this news release represents the Company’s expectations as of the date hereof, and is subject
to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking
information whether as a result of new information, future events or otherwise, except as required by applicable
securities legislation.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with
this restriction may constitute a violation of U.S. Securities laws.