American Lithium is Unaware of Any Material Change
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
please contact the Company at [email protected] or visit our website at www.americanlithiumcorp.com
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