Vancouver, BC – July 6, 2022: Ameriwest Lithium Inc. (the “Company” or “Ameriwest”) (CSE: AWLI) is pleased to announce that at its annual general and special meeting (the “Meeting”) of shareholders held on July 5, 2022, shareholders of the Company (the “Shareholders”) voted in favour of a special resolution to approve the plan of arrangement (the “Arrangement”) with ISM Resources Corp. (“ISM”), previously announced March 31, 2022, pursuant to which Ameriwest will separate into two companies with Ameriwest continuing to be traded on the Canadian Securities Exchange (the “CSE”) and with ISM appling to have its common shares listed for trading on the CSE.
In addition to the approval of the Arrangement, all proposed director nominees were duly elected as directors of the Company for the ensuing year; that being David Watkinson, Glenn Collick, James Gheyle, Saman Eskandri and Zygmunt S. Hancyk. The Shareholders also ratified and approved (i) the appointment of DeVisser Gray LLP as the auditor of the Company, (ii) the continuation of the Company’s 10% rolling stock option plan, (iii) the adoption of a new form of option plan and (iv) the adoption of new option plan for ISM.
Holders of a total of 9,877,033 common shares of the Company were represented in person or by proxy at the Meeting, which constituted a quorum of Shareholders, and represented 17.51% of the 56,415,789 issued and outstanding common shares entitled to vote as of May 6, 2022; the record date for the Meeting.
The Company is expecting to seek a final order of the British Columbia Supreme Court approving the Arrangement on July 8, 2022.
Completion of the Arrangement is subject to the satisfaction of certain other closing conditions customary for a transaction of this nature.
About Ameriwest Lithium Inc.
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 its 13,580-acre Railroad Valley property, the 22,210-acre Edwards Creek Valley, and the 5,600-acre Deer Musk East property in Nevada. In addition, the Company is exploring the 2,860-acre Thompson Valley property in Arizona.
On Behalf of the Board of Directors
Chief Operating Officer and Director
For further information, please contact:
Chief Operating Officer and a director
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.
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.
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