American Lithium announces Upsize of previously announced Private Placement to $35 Million
Not for distribution to United States newswire services or for dissemination in the United States
American Lithium announces Upsize of previously announced Private
Placement to $35 Million
VANCOUVER, BRITISH COLUMBIA, October 14, 2021 – American Lithium Corp. (“American
Lithium” or the “Company”) (TSX-V:LI) (OTCQB:LIACF) (Frankfurt:5LA1) is pleased to announce
that, in connection with its previously announced private placement offering of units (“Units”), it
has entered into an amended 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 increased the size of
the private placement to up to 13,208,000 Units at an offering price of $2.65 per Unit (the “Issue
Price”), for aggregate gross proceeds of up to $35,001,200 (the “Offering”), to accommodate
investor demand.
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.
In connection with the up-size, the Agents will no longer have an over-allotment option to increase
the size of the Offering beyond the current Offering size.
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 [email protected] 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
For further information, please contact:
American Lithium Corp.
Email: [email protected]
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, closing of the Offering and use of proceeds
from the Offering. 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.