American Lithium Comments on Recent Promotional Activity
January 15 2021 - 7:18PM
American Lithium Corp. (TSXV: LI) (OTCQB: LIACF)
(Frankfurt: 5LA1) (“
American Lithium” or
the “
Company”) has been requested by OTC Markets
Group Inc. (“
OTC Markets”) to comment on recent
promotional activity concerning its common shares traded on the
OTCQB.
On January 12, 2021, OTC Markets sent the
Company copies of articles by Promethean Marketing, Inc.
(“Promethean”) and Global Profit Systems, LLC
(“Global”). Promethean is a
third-party marketing and advertising firm which was retained by
the Company to provide content distribution and advertising
services. While the Company did engage Promethean, it does not have
any relationship with Global. The Company was not involved in the
preparation of the articles published by Promethean or Global, nor
did it have editorial control over the content of the articles, and
only became aware of the articles on January 12, 2021, following
notification by OTC Markets.
The Company does not believe the statements
referencing it in the articles were false or misleading. The
Company has been advised by OTC Markets that OTC Markets takes the
position that aspects of the statements were overly promotional.
The Company wishes to caution readers that these statements are
speculative in nature. For more complete and specific information
regarding the Company, its prospects and the risks associated with
those prospects, readers should consult the Company’s website and
other reliable sources.
The Company does not believe the promotional
activities were a factor in the recent increase in trading volume
in the Company’s common shares on the OTCQB which occurred on
January 12, 2021. Instead, the Company attributes the increase to
heightened interest in development-stage lithium projects primarily
driven by anticipated demand from the electric vehicle market.
After an inquiry of management, none of the
Company’s officers, directors, controlling shareholders or
third-party service providers have sold or purchased securities of
the Company in the past ninety days. In the last twelve
months, except for Promethean, the Company has not engaged any
parties to provide investor relations, public relations services,
marketing or other related services. The Company has not issued any
convertible instruments or securities allowing conversion to equity
securities at prices constituting a discount to the current market
price at the time of issuance.
About American Lithium
Corp.
American Lithium is actively engaged in the
acquisition, exploration and development lithium deposits within
mining-friendly jurisdictions throughout the Americas. The Company
is currently exploring and developing the TLC lithium project
located in the highly prospective Esmeralda lithium district in
Nevada. TLC is close to infrastructure, 3.5 hours south of the
Tesla Gigafactory, and in the same basinal environment as
Albemarle’s Silver Peak lithium mine, and several advancing
deposits and resources, including Ioneer Ltd.’s (formerly Global
Geoscience) Rhyolite Ridge and Cypress Development Corp.’s Clayton
Valley Project.
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.Michael Kobler, Chief
Executive Officer
Neither the 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.
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