Mr. David Watkinson reports
AMERIWEST LITHIUM INC. ANNOUNCES
DELAY IN FILING ANNUAL FINANCIAL STATEMENTS
Ameriwest Lithium Inc.'s annual financial statements for the year April 30, 2021, including the related management discussion and analysis and chief executive officer and chief financial officer certifications, were not filed by the required filing deadline of Aug. 30, 2021.
The company is working closely with its auditor to complete the audit and will provide updates as further information relating to filing of the annual financial filings becomes available. At this time the company anticipates completing its annual financial filings on or about Sept. 1, 2021.
The company has applied to the applicable securities regulatory authorities and received a management cease trade order (MCTO) imposed against the chief executive officer and chief financial officer of the company precluding them from trading securities of the company. The MCTO will be in effect until the annual financial filings are filed, and requires that the annual financial filings be filed on or before 60 days from the date of the MCTO.
Until the annual financial filings are filed, the company intends to issue biweekly default status reports in accordance with National Policy 12-203 -- Management Cease Trade Orders. The company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
If the company is unable to file its annual financial filings prior to the expiry of the MCTO period, it is anticipated that the British Columbia Securities Commission will issue a general "failure to file" cease trade order prohibiting the trading by any person of any securities of the company.
About Ameriwest Lithium Inc.
Ameriwest Lithium 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, Nev., 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-per-cent interest.
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