American Salars closes $175,000 private placement

Executive Summary

• American Salars Lithium Inc. has closed a non-brokered private placement, raising gross proceeds of $175,000.
• The company issued 1,666,666 units at a price of 10.5 cents per unit, with each unit comprising one common share and one common share purchase warrant.
• Net proceeds are designated for advancing exploration programs and general working capital.

Key Details

• Gross Proceeds: $175,000
• Units Issued: 1,666,666 units
• Price Per Unit: 10.5 cents
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one additional common share at an exercise price of 14 cents per share.
• Warrant Expiration: 24 months from the date of issuance.
• Use of Proceeds: Advancing exploration programs and general working capital purposes.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the date of issuance.

Notable Quotes

• None provided in the text.