09:05:21 EDT Sat 18 May 2024
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or Name
USA
CA



Powr Lithium Corp
Symbol POWR
Shares Issued 48,597,219
Close 2023-10-05 C$ 0.21
Market Cap C$ 10,205,416
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Powr Lithium cheers Lithium Americas' reorganization

2023-10-05 18:25 ET - News Release

Mr. Patrick Morris reports

POWR LITHIUM CELEBRATES LITHIUM AMERICAS' FOCUS ON NEVADA NEW COMPANY OWNS LARGEST LITHIUM RESOURCE IN AMERICA

Powr Lithium Corp. has congratulated Lithium Americas on the completion of the reorganization of Lithium Americas into two independent companies, Lithium Americas and Lithium Argentina.

Lithium Americas owns the Thacker Pass project located in Nevada, which hosts the largest known measured and indicated lithium resource in the United States. Lithium Americas is focused on advancing construction at Thacker Pass. Construction commenced in early 2023.

Powr Lithium chief executive officer Pat Morris noted: "I am pleased to see Lithium Americas' decision to focus on Nevada. It helps to validate what we've been saying for a while now: Nevada is the place to be for domestic lithium discoveries."

Additionally, the company announces that it has amended the terms of a series of 5,733,200 outstanding common share purchase warrants. The warrants were previously issued in connection with a non-brokered private placement completed by the company. None of the warrants are held by related parties or insiders of the company. No warrants have been exercised in the last six months.

Each of the 5,733,200 warrants outstanding previously entitled the holder thereof to purchase one common share of the company at a price of 40 cents until Jan. 17, 2025. Under the terms of the amendment, the exercise price of the warrants has been reduced to 25 cents. The expiry date of the warrants will not be amended.

The company also announces that it has engaged Stride Report Inc., an arm's-length party to the company, to provide digital marketing services for a term of six months commencing on Oct. 5, 2023. The services will include the development, publishing and management of digital content in Canada, Germany and the United States and other related services. In consideration for providing the services, the issuer has agreed to pay to Stride $700,000. Consideration offered to Stride does not include any securities of the company. Aside from this engagement, the company does not have any relationship with Stride.

About Powr Lithium Corp.

Powr Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The company holds interests on the Halo and Eli properties in Nevada. The company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner.

We seek Safe Harbor.

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