American Salars arranges $175,000 private placement

Executive Summary

• American Salars Lithium Inc. announced a non-brokered private placement to raise up to $175,000 in gross proceeds.
• The financing consists of 1,666,667 units priced at 10.5 cents per unit, with proceeds allocated to exploration and general working capital.
• Each unit includes one common share and one warrant exercisable at 14 cents per share for 24 months, subject to a 10% beneficial ownership limit and a four-month-and-one-day hold period.

Key Details

• Transaction Type: Non-brokered private placement.
• Gross Proceeds: Up to $175,000.
• Unit Price: 10.5 cents per unit.
• Quantity: Up to 1,666,667 units.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: 14 cents per share.
  • Duration: 24 months.
  • Ownership Limit: Warrants are exercisable only to the extent that the holder (acting jointly or in concert) would own less than 10% of the issued and outstanding common shares immediately following exercise.
• Use of Proceeds: Exploration and general working capital.
• Hold Period: All securities issued are subject to a four-month-and-one-day hold period from the date of issuance.

Notable Quotes

• None provided in the text.