LI.V · 2023-01-05 12:00:00

American Lithium Receives Approval to List on NASDAQ

Listings & Exchange

VANCOUVER, BRITISH COLUMBIA, January 5, 2023 – 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 Lithium

American 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 [email protected] or visit our website

at www.americanlithiumcorp.com for project update videos and related background information.

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 Information

This 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 simi lar 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 Sha res will

begin trading on Nasdaq, the continued trading of the Common Shares on the TSX Venture Exchange, the Company’s

ability to fund its activit ies 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 uncert ainties 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 critic al 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 gener ally, 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; delay s in the SEC review of the registra tion 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 a nd 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 avai lable 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 th e 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 Preca utionary 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 Macusan i, 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.

← Back to feed