American Lithium declares $20M Personal Placement

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Not for distribution to United States newswire providers or for dissemination in the US

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — American Lithium Corp.  (“ American Lithium ” or the “ Firm ”) (TSX-V:LI) (OTCQB:LIACF) (Frankfurt:5LA1) is happy to announce that it has entered into an settlement with Eight Capital, on behalf of a syndicate of brokers together with Echelon Wealth Companions Inc. and TD Securities Inc., as co-lead brokers and joint bookrunners (collectively the “ Brokers ”) pursuant to which the Company has launched a non-public placement of as much as 7,548,000 models (the “ Models ”), at an providing worth of $2.65 per Unit (the “ Concern Worth ”), for mixture gross proceeds of as much as $20,002,200 (the “ Providing ”).

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Every Unit might be comprised of 1 frequent share within the capital of the Firm (a “ Share ”) and one-half of 1 frequent share buy warrant (every entire warrant, a “ Warrant ”). Every Warrant will entitle the holder thereof to buy one Share at an train worth of $4.00 per Share, for a interval of 24 months following the closing of the Providing.

The Company has additionally granted the Brokers an choice to supply on the market as much as an extra 1,887,000 Models on the Concern Worth, exercisable at any time till 48 hours previous to Closing, to cowl over-allotments, if any.

The gross proceeds of the Providing might be used for exploration and growth of the Firm’s TLC Challenge, Falchani Challenge and the Macusani Challenge, and for working capital and basic company functions.

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The securities being supplied haven’t, nor will they be registered below the US Securities Act of 1933, as amended, and is probably not supplied or bought inside the US or to, or for the account or good thing about, U.S. individuals within the absence of U.S. registration or an relevant exemption from the U.S. registration necessities. This launch doesn’t represent a suggestion on the market of securities in the US.

The Providing is scheduled to shut on or about November 3, 2021 and is topic to sure circumstances together with, however not restricted to, the receipt of all essential regulatory and different approvals together with that of the TSX Enterprise Change. All securities to be issued in reference to the Providing might be topic to a statutory maintain interval expiring four-months-and-one-day following closing of the Providing.

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About American Lithium

American Lithium, a member of the TSX Enterprise 50, is actively engaged within the acquisition, exploration and growth of lithium initiatives inside mining-friendly jurisdictions all through the Americas. The Firm is presently targeted on enabling the shift to the brand new power paradigm by way of the continued exploration and growth of its strategically situated TLC lithium claystone challenge within the richly mineralized Esmeralda lithium district in Nevada in addition to persevering with to advance its Falchani lithium and Macusani uranium growth initiatives in southeastern Peru. Each Falchani and Macusani have been by way of preliminary financial assessments, exhibit sturdy extra exploration potential and are located close to vital infrastructure.

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The TSX Enterprise 50 is a rating of the highest performers in every of trade sectors within the TSX Enterprise Change during the last yr.

For extra info, please contact the Firm atinfo@americanlithiumcorp.com or go to our web site at www.americanlithiumcorp.com for challenge replace movies and associated background info.

Comply with us on Fb, Twitter and LinkedIn.

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

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

For additional info, please contact:

American Lithium Corp.

Electronic mail: info@americanlithiumcorp.com

Web site: www.americanlithiumcorp.com

Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this press launch.

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Ahead-Trying Statements

Statements on this launch which might be forward-looking info are topic to numerous dangers and uncertainties regarding the particular elements disclosed right here. Statements on this launch which might be forward-looking info, embody, with out limitation, use of proceeds from the location. Info supplied on this launch is essentially summarized and will not include all obtainable materials info. All such forward-looking info and statements are primarily based on sure assumptions and analyses made by American Lithium administration in mild of their expertise and notion of historic traits, present circumstances and anticipated future developments, in addition to different elements administration believes are acceptable within the circumstances. These statements, nevertheless, are topic to a wide range of dangers and uncertainties and different elements that would trigger precise occasions or outcomes to vary materially from these projected within the forward-looking info or statements. Necessary elements that would trigger precise outcomes to vary from these forward-looking statements embody these described below the heading “Dangers Components” in American Lithium’s most not too long ago filed Annual Info Kind and MD&A. The Firm doesn’t intend, and expressly disclaims any obligation to, replace or revise the forward-looking info contained on this information launch, besides as required by legislation. Readers are cautioned to not place undue reliance on forward-looking info or statements.