/NOT FOR DISSEMINATION IN THE U.S. OR TO U.S,
WIRE SERVICES/
TSX Venture Exchange Symbol: AAL
VANCOUVER, July 11, 2019 /CNW/ - Advantage Lithium Corp.
(the "Corporation" or "Advantage Lithium") (TSX Venture: AAL)
(OTCQX: AVLIF) is pleased to announce that it has arranged a
private placement (the "Private Placement") of 4,137,996 common
shares ("Common Shares") of Advantage Lithium at a price of
$0.41 per Common Share for gross
proceeds of $1,700,000. The
Corporation also reports that subscribers have been identified to
fill the placement. Advantage Lithium will use the proceeds from
the Private Placement for general working capital and to fund
continued development and exploration activities on its lithium
properties in Argentina. The
Common Shares issued pursuant to the Private Placement will be
subject to a four month hold period from the date of closing.
Advantage Lithium is pleased with the continued support from
Orocobre Limited (the "Insider"), current investors, and other
insiders. In connection with the Private Placement, the Insider
intends to arrange for the sale of up to 487,805 Common Shares held
by the Insider prior to the closing of the Private Placement (the
"Swap") through the facilities of the TSX Venture Exchange Inc.
(the "TSXV"), and to use 100% of the proceeds from the Swap to
facilitate the investment of another institutional investor in the
Private Placement. The Swap will allow Advantage Lithium to
maintain key cornerstone institutional investors in the
Corporation's register of shareholders. The Private Placement
remains subject to the approval of the TSXV.
ADVANTAGE LITHIUM CORP.
Per: "Callum Grant"
About Advantage Lithium Corp.
Advantage Lithium Corp is focused on developing its 75% owned
Cauchari lithium project, located in Jujuy, Argentina. The
Company also owns 100% interest in three additional lithium
exploration properties in Argentina: Antofalla, Incahuasi, and
Guayatayoc. The Company is headquartered in Vancouver, British Columbia and trades on the
TSX Venture Exchange (TSX-V:AAL) and the OTCQX Best Market in the
U.S. (OTCQX: AVLIF).
Further information about the Company can be found at
www.advantagelithium.com.
Cautionary Statement:
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 "is
expected", "intends", 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 that 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. The forward-looking statements included in this press
release are made as of the date of this press release and the
Company disclaims 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.
SOURCE Advantage Lithium Corp