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An announcement from Blanton Resources Corp. ( (TSE:USLI) ) is now available.
American Salars Lithium Inc. has arranged to settle $129,000 of outstanding indebtedness by issuing 600,000 common shares at $0.215 per share, a transaction that remains subject to approval from the Canadian Securities Exchange. The newly issued securities will be subject to a four-month-and-one-day hold period, reflecting standard resale restrictions for such equity-based settlements.
The settlement includes $43,000 owed to the management company of CEO R. Nick Horsley, making part of the transaction a related-party deal under Canadian securities rules. American Salars plans to rely on exemptions from formal valuation and minority approval requirements, arguing that the related-party component represents less than 25% of its market capitalization, which may streamline the process while modestly improving its balance sheet by reducing debt.
More about Blanton Resources Corp.
American Salars Lithium Inc. is a battery metals exploration company focused on exploring and developing high-value lithium and related projects to serve the growing electric vehicle market. The company targets assets that can supply critical materials for advanced battery technologies, positioning itself within the broader clean energy and EV supply chain.
Average Trading Volume: 23,272
Technical Sentiment Signal: Buy
Current Market Cap: C$724.9K
See more insights into USLI stock on TipRanks’ Stock Analysis page.