American Lithium announces $ 20 million private placement

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VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) – American Lithium Corp. (“American lithium“or the”Society”) (TSX-V: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) is pleased to announce that it has entered into an agreement with Eight Capital, on behalf of a syndicate of agents including Echelon Wealth Partners Inc. and TD Securities Inc., as co-lead agents and associate bookrunners (together the “Agents“) pursuant to which the Company launched a private placement of a maximum of 7,548,000 units (the”Units“), at an offering price of $ 2.65 per Unit (the”Issue price“), for total gross proceeds of up to $ 20,002,200 (the”Offer“).

Each unit will consist of one ordinary share in the capital of the Company (a “To share“) and a half common share purchase warrant (each whole warrant, a”To guarantee“). Each warrant will allow its holder to purchase one share at an exercise price of $ 4.00 per share, for a period of 24 months following the closing of the offering.

The Company has also granted the Agents an option to offer for sale up to 1,887,000 additional Units at the issue price, exercisable at any time up to 48 hours prior to closing, to hedge over-allotments, if applicable.

The gross proceeds of the placement will be used for the exploration and development of the Company’s TLC project, Falchani project and Macusani project, as well as for working capital and general corporate purposes.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or on behalf of or for the benefit of, United States persons in the absence of United States registration or an applicable exemption from United States registration requirements. This press release does not constitute an offer to sell securities in the United States.

The offering is scheduled to close on or about November 3, 2021 and is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory and other approvals, including that of the TSX Venture Exchange. . All securities to be issued in connection with the offering will be subject to a legal hold period expiring four months and one day after the closing of the offering.

About American Lithium

American Lithium, a member of TSX Venture 50, is actively engaged in the acquisition, exploration and development of lithium projects in mining-friendly jurisdictions across the Americas. The Company is currently focused on shifting to the new energy paradigm through the continued exploration and development of its TLC lithium clay project strategically located in the richly mineralized lithium district of Esmeralda, Nevada, as well as the continued development of Falchani lithium and Macusani uranium. projects in southeastern Peru. Falchani and Macusani have undergone preliminary economic assessments, have strong potential for further exploration and are located close to important infrastructure.

The TSX Venture 50 is a ranking of the best performing companies in each of the industry sectors of the TSX Venture Exchange over the past 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 general information.

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On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO and director

Phone. : 604 428 6128

For more information, please contact:

American Lithium Corp.

Email: [email protected]

Website: www.americanlithiumcorp.com

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.

Forward-looking statements

Statements contained in this press release that are forward-looking information are subject to various risks and uncertainties regarding the specific factors disclosed herein. Statements contained in this press release that are forward-looking information include, without limitation, the use of the proceeds of the offering. The information provided in this press release is necessarily summarized and may not contain all the important information available. All of this forward-looking information and statements are based on certain assumptions and analyzes made by the management of American Lithium in light of their experience and their perception of historical trends, current conditions and expected future developments, as well as other factors. as management deems 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 “Risk Factors” in the latest Annual Information Form and MD&A filed by American Lithium. The Company does not intend and expressly disclaims any obligation to update or revise any forward-looking information contained in this press release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.

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