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Vancouver, British Columbia – United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0ULA) (“ULTH” or the “Company”) announces that it has settled a total of $226,000.00 in outstanding debt (the “Debt”) through the issuance of an aggregate of 684,848 common shares in the capital of the Company (the “Debt Settlement Shares”) at a deemed value of $0.33 per Debt Settlement Share (the “Debt Settlement”). The Debt was owed to a certain arm’s-length creditor of the Company, and has been extinguished by the issuance of the Debt Settlement Shares.
The securities issued in connection with the Debt Settlement are subject to a statutory resale restriction which will expire four months and one day from the date of issuance in accordance with applicable securities legislation.
On Behalf of The Board of Directors
President, Chief Executive Officer and Director
About United Lithium Corp.
United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.
This news release may contain forward-looking statements. All statements included in this release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
The CSE does not accept responsibility for the adequacy or accuracy of this release.