United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) (“ULTH” or the “Company”) discloses today that, following a review by the British Columbia Securities Commission in connection with a recently-filed short form base shelf prospectus, the British Columbia Securities Commission has determined that the Company’s previously filed material change report dated October 16, 2020 (the “Material Change Report”) in respect of the amalgamation between its wholly owned subsidiary, 1263391 B.C. Ltd. (“126”), and 1257590 B.C. Ltd. (“125”), pursuant to which the Company issued 11,500,000 shares to former shareholders of 125 and indirectly acquired 125’s option to acquire up to 100% of the Barbara Lake Lithium property, was incomplete.
As a result, the British Columbia Securities Commission issued a cease trade order (the “Cease Trade Order”) against the Company, and its securities have been halted from trading on the Canadian Securities Exchange. The Company is actively working to resolve this matter and will provide further updates in due course
On Behalf of The Board of Directors
Michael Dehn
Chief Executive Officer
Investor Relations
(604) 259-0889
ir@unitedlithium.com