American Salars Announces Debt Settlement

Executive Summary

• American Salars Lithium Inc. will settle $129,000 of outstanding indebtedness by issuing 600,000 common shares at $0.215 per share.
• The settlement includes a related‑party component of $43,000 owed to CEO Nick Horsley’s management company and is subject to CSE approval and a four‑month‑plus hold on the issued securities.
• The company will rely on exemptions under Multilateral Instrument 61‑101, asserting that the fair market value of the related‑party portion does not exceed 25 % of its market capitalization.

Key Details

• Total indebtedness settled: $129,000.00
• Share issuance: 600,000 common shares at a price of $0.215 per share (aggregate consideration of $129,000).
• Hold period: Issued shares will be subject to a four‑month and one‑day hold from the date of issuance.
• Related‑party component: $43,000 of the debt is owed to CEO Nick Horsley’s management company.
• Regulatory requirements: Settlement requires approval of the Canadian Securities Exchange (CSE).
• MI 61‑101 exemption: Company will rely on exemptions from formal valuation and minority‑shareholder approval because the fair market value of the related‑party portion is deemed to be ≤ 25 % of the company’s market capitalization.
• Signatory: R. Nick Horsley, CEO, on behalf of the Board of Directors.

Notable Quotes

“R. Nick Horsley” – CEO, signing on behalf of the Board of Directors. (No additional substantive quote provided.)