Advantage Lithium Appoints William Marsh to the Board; Provides Update on Acquisition
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 11, 2016) –Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSX VENTURE:AAL.H) is pleased to announce the appointment of Mr. William (Bill) V. Marsh to the Board of Directors.
Mr. Marsh has over 30 years of experience in resource exploration and drilling business. Since retiring from Chevron in 2001, Mr. Marsh has consulted to public international resource firms listed on the TSX and the TSX Venture Exchanges. Mr. Marsh is presently a director of Fission Uranium Corp., Fission 3.0, Crazy Horse Resources and Wolfpack Capital Corp.
Prior to retiring from Chevron in 2001, Mr. Marsh worked on domestic and international drilling programs. He has worked as a Drilling Superintendent and Senior Drilling Representative supervising drilling, workovers and completions in many areas in Canada including the Beaufort Sea, Mackenzie Delta, lower North West Territories, British Columbia, Alberta, and Saskatchewan.
Options to purchase 200,000 shares have been granted at a price of CAD $0.71 per share. The options are exercisable until August 9, 2019.
The Company further announces that Mr. David Sidoo, currently a director of the Company, has been appointed as President of the Company following the resignation of Mr. Marc Cernovitch. Mr. Cernovitch will remain on the Board until completion of the Company’s qualifying transaction.
Update on option to acquire interest in lithium brine projects: Further to its news release of June 20th 2016, regarding the option to acquire an interest in five Nevada lithium projects and certain water rights, as part of the approval process with the TSX Venture Exchange (the “Exchange“), the Company has prepared an NI 43-101 report on the Jackson Wash project. This report has been accepted for filing by the Exchange. The Company has now made its final submission to the Exchange in respect to obtaining final approvals to closing of its financing. The Company will be issuing 16,100,000 shares to raise gross proceeds of $ 4,025,000. The Company’s Filing Statement concerning this acquisition is under review by the Exchange and, on approval of the Filing Statement, the Company will close its acquisition and move forward with its work plans on the subject properties.
About Advantage Lithium Corp.
Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “AAL.H”.
ADVANTAGE LITHIUM CORP.
Nick DeMare, Corporate Secretary
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Advantage Lithium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Advantage Lithium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.