Vancouver, British Columbia, August 23, 2021 — Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce that, effective at market open on August 23, 2021, the OTC ticker symbol for the Company’s common shares will change from AMRWF to AWLIF. The new symbol is more consistent with the Company’s stock symbol on the Canadian Securities Exchange (the “CSE”), which is Ameriwest’s primary trading market. The Company’s common shares will continue to trade on the CSE under the symbol AWLI and on the Frankfurt Stock Exchange under the symbol 5HV0.
In addition, Ameriwest is pleased to announce that the Company has entered into an online marketing agreement (the “Agreement”) with Promethean Marketing Inc., a Maryland-based communications firm (“Promethean”), pursuant to which Promethean will design, create, and distribute advertising content on Ameriwest’s behalf. The Agreement is effective as of August 1, 2021, is for a term of five (5) months and may be terminated at the Company’s option at any time upon 30 days’ notice in writing to Promethean.
The primary purpose of the Agreement is to enhance Ameriwest’s exposure among mining industry stakeholders and investors in the United States. Importantly, the Agreement contains strict prohibitions on Promethean (i) distributing any materials in respect of Ameriwest without the express written approval of the Company’s CEO, and (ii) undertaking any activities that may require Promethean to register as a broker-dealer in the Unites States or elsewhere. In exchange for the services being provided by Promethean under the Agreement, which are not intended to constitute “Investor Relations Activities” as that term is defined in the policies of the CSE, the Company has agreed to pay Promethean a non-refundable deposit of US$150,000 (the “Deposit”) plus a fee of US$250,000 for the duration of the term, which fee is refundable to Ameriwest on a pro-rata basis in the event that the Agreement is terminated prior to the completion of the term. Pursuant to the Agreement, Promethean is required to use the proceeds of the Deposit for content creation purposes.
The Agreement contains standard covenants of the parties, as well as reciprocal confidentiality provisions, intellectual property protections and indemnification language.
Ameriwest invites interested stakeholders and shareholders alike to visit its website and sign-up for regular news alerts which will help provide timely updates of ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field, as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.
On Behalf of the Board of Directors,
President and Chief Executive Officer
For further information, please contact:
About Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
AmeriWest Lithium Inc. is a Canadian-based exploration company with a focus on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring the Deer Musk East property, located in the prolific Clayton Valley, Nevada, totalling 5,600 acres, and the Railroad Valley property, totalling 6,200 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest. For more information visit: https://ameriwestlithium.com/.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.