VANCOUVER, Aug. 14, 2017 /CNW/ - American
Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company") announces that its board of directors
has approved a restructuring of the Company through a share
consolidation of up to 1 new share for every 10 existing shares
held.
The Company has recently renewed all of its Bureau of Land
Management ("BLM") licenses in Fish Lake
Valley, Nevada ("Fish Lake") for a further 12 months and has
decided to focus its efforts on these core assets at this time. As
a consequence of these renewal costs, the Company does not have the
necessary funds at this time to embark on any exploration and needs
to restructure in order to attract the necessary capital.
Mike Kobler, CEO of American
Lithium stated, "we continue to believe that Fish Lake has the
potential to provide significant returns for the Company and its
shareholders and we will continue to explore all avenues of funding
to enable us to continue to de-risk and move these assets
forward."
Completion of the share consolidation remains subject to the
approval of the TSX Venture Exchange, and the Company will issue a
further news release prior to the consolidation taking effect.
ABOUT American Lithium Corp.
American Lithium Corp. is actively engaged in the acquisition,
exploration and development of lithium deposits within
mining-friendly jurisdictions throughout the Americas.
American Lithium holds options to acquire Nevada lithium brine claims totaling 22,332
acres (9,038 ha), including 18,552 contiguous acres (7,508 ha) in
Fish Lake Valley, Esmeralda County; and the 2,240 acre (907 ha)
San Emidio Project in Washoe County. The Company's
Fish Lake Valley lithium brine
properties are located approximately 38 kilometers from Albemarle's
Silver Peak, the largest lithium operation in the U.S.
American Lithium is listed on the TSXV under the trading symbol
"Li". For further information, please visit the
Company's website at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive
Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this 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. 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
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.
SOURCE American Lithium Corp