Pan American Lithium Corp. Announces Amendment of Articles to Authorize Preferred Shares
September 23 2011 - 4:56PM
Pan American Lithium Corp. (TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF)
(the "Company" or "Pan American"), a lithium exploration company
with 11 lithium/potash brine projects in Chile, is pleased to
announce today that it has filed a Notice of Alteration with the
British Columbia Registrar of Companies to amend its Articles to
authorize a class of preferred shares without par value. Following
the amendment, the Company is authorized to issue an unlimited
number of common shares without par value and an unlimited number
of preferred shares without par value. The preferred shares may be
issued in series on such terms as determined by the directors of
the Company in accordance with the special rights and restrictions
as set out in Part 28 of the Articles of the Company.
The Company has also granted 2,125,000 incentive stock options
under the Rolling Stock Option Plan to Company directors, officers,
employees and consultants, each option of which is exercisable at
$0.15 per share until September 22, 2021.
About Pan American:
In total, the Company has rights in eleven lithium and
potash-bearing brine projects in Chile's Atacama Region III
covering cumulatively more than 20,000 hectares. The Company also
has an option to acquire an indirect interest in the Cierro Prieto
geothermal lithium brine project in Baja California Norte, Mexico.
The Laguna Verde surface brine lake project is the most advanced of
the Company's portfolio of 11 lithium and potassium bearing brines
projects in Chile.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP. |
/s/ Andrew Brodkey |
Andrew A. Brodkey |
President and CEO |
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.
CONTACT: Jodi Henderson
Corporate Secretary
Tel: (520)989-0032
jhenderson@kriyah.com
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