VANCOUVER, Sept. 22, 2017 /CNW/ - American Lithium Corp.
(TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company"). At the request of the Investment
Industry Regulatory Organization of Canada, the Company confirms that its
management is unaware of any material change in the operations of
the Company which would account for the recent increase in market
activity.
At present, the Company has a negative working capital position,
and available cash reserves of less than $40,000. While the Company is current in
respect of holding costs for the Fish Lake Lithium project, it is
unable to advance any exploration work until such time as the
Company's financial condition is improved. Management is
actively looking for financing opportunities to bring the Company
into a positive working capital position, and will provide
additional information as it becomes available.
About American Lithium Corp.
American Lithium 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 totalling 22,332
acres (9,038 hectares), including 18,552 contiguous acres (7,508
hectares) in Fish Lake Valley,
Esmeralda county and the
2,240-acre (907-hectare) San Emidio project in Washoe county. The Company's
Fish Lake Valley lithium brine
properties are located approximately 38 kilometres from Albemarle's
Silver Peak, the largest lithium operation in the United States.
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