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American Lithium Completes Merger with Plateau

Nachrichtenquelle: globenewswire
11.05.2021, 23:44  |  171   |   |   

VANCOUVER, British Columbia and TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) and Plateau Energy Metals Inc. (“Plateau”) (TSXV:PLU | OTCQB:PLUUF) are pleased to announce the completion of the acquisition by American Lithium of all of the issued and outstanding common shares of Plateau (“Plateau Shares”) by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement became effective as of 12:01 a.m. (Toronto time) on May 11, 2021 (the “Effective Time”), resulting in Plateau becoming a wholly-owned subsidiary of American Lithium.

Highlights

  • Merger combines two of the largest lithium development projects globally
  • Optionality provided by large-scale, advanced uranium project with robust economics
  • Geographic & geological diversity in mining friendly jurisdictions
  • Go forward management and board combines deep technical expertise with global capital markets reach and a track-record of creating value for shareholders
  • Merger creates a leading, Americas focused developer of energy metals at a time when securing a sustainable supply of Critical Minerals is a global priority
  • Strong working capital with approx. $19 million in cash on closing

Simon Clarke, Chief Executive Officer & Director of American Lithium stated, “We are thrilled to complete this acquisition of Plateau, which significantly increases our portfolio of assets and expands our range of opportunities in the Americas. I would like to take this time to welcome our new colleagues from Plateau, who bring a highly complimentary skill set. Not only is this important for the continued development of the Plateau assets but also their success in producing battery grade lithium at Falchani will be directly relevant as we focus on that milestone at TLC.”

Dr. Laurence Stefan, Interim CEO & Director of Plateau stated, “The merger of Plateau and American Lithium combines two major undeveloped lithium assets and creates a development stage company with one of the largest combined lithium resources globally. The combination also secures the financial strength, capital markets expertise and shareholder support required for us to step up the development of all of our assets and build on the last decade of work undertaken, and milestones achieved, in Peru. We continue to believe that our success will position Peru as a major supplier of energy metals.”

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American Lithium Completes Merger with Plateau VANCOUVER, British Columbia and TORONTO, May 11, 2021 (GLOBE NEWSWIRE) - American Lithium Corp. (“American Lithium” or the “Company”) (TSXV:LI | OTCQB:LIACF | Frankfurt:5LA1) and Plateau Energy Metals Inc. (“Plateau”) (TSXV:PLU | OTCQB:PLUUF) are …

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