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American Salars Lithium Inc
Symbol	USLI
Shares Issued	15,920,005
Close 2023-12-29	C$ 0.175
Market Cap	C$ 2,786,001
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American Salars arranges $500,000 private placement

2024-01-12 08:57 ET - News Release

Subject: American Salars Lithium Inc. - News Release Word Document File: '\\swfile\EmailIn\20240112 025323 Attachment 241113 American Salars - debenture PP news release (W0432830x109181) copy copy.docx' {W0432830}2 American Salars Lithium Inc. 200-551 Howe Street Vancouver, BC V6C 2C2 www.AmericanSalars.com {W0432830}1 AMERICAN SALARS ARRANGES PRIVATE PLACEMENT Vancouver, BC - January 12, 2024 - American Salars Lithium Inc. ("American Salars" or the "Company") (USLI: CSE) is pleased to announce that the Company has arranged an unsecured convertible debenture ("Debenture" or "CD") private placement of up to $500,000 at a price of $0.15 per convertible debenture unit. The principal amount of the Debentures will mature thirty-six (36) months from the issuance of the Debentures (the "Maturity Date"). The principal amount of the Debentures will accrue interest at 10% per annum, commencing on the issuance date, which interest will be payable (or converted) at the Maturity Date, or at any time prior to the Maturity Date at the option of the Debenture holder. The principal amount and accrued and unpaid interest shall be convertible at a price of CDN$0.15 per common share, calculated based on the term held until conversion, subject to adjustment. For each principal Debenture amount of CDN$0.15 the Company shall also issue one transferrable share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share (each, a "Warrant Share") at an exercise price of CDN$0.25 per Warrant (the "Exercise Price") for a period of three years after issuance of the Debentures and Warrants. The holders of the Debentures and Warrants shall not have the right to convert any portion of the Principal Amount plus any accrued but unpaid interest, and/or exercise any Warrants, if after giving effect to such conversion or exercise, the holder (and persons acting jointly or in concert with such holder) would beneficially own in excess of 9.9% of the Company's issued and outstanding common shares after giving effect to such conversion or exercise. Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the private placement offering will be subject to a four-month hold period commencing on the closing date. The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About American Salars Lithium Inc. American Salars Lithium Inc is an exploration company focused on exploring and developing toward the production of high-value battery metals projects to meet the demands of the advancing electric vehicle market. All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter and Instagram. On Behalf of the Board of Directors, "Michael Dake" Michael Dake, CEO For further information, please contact: American Salars Lithium Inc. Phone: 604.683.8610 E-Mail:info@americansalars.com Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. ###