American Salars Announces A 10 For 1 Share Consolidation

Core Viewpoint - American Salars Lithium Inc. is seeking approval from the Canadian Securities Exchange to consolidate its common shares on a 10:1 basis, reducing the number of outstanding shares significantly [1][2]. Share Consolidation Details - The consolidation will decrease the number of issued and outstanding common shares from 36,130,605 to approximately 3,613,060 [2]. - The company has 3,500,000 outstanding warrants, which will equate to about 350,000 common shares post-consolidation, and stock options for 3,620,000 common shares, translating to approximately 326,000 common shares post-consolidation [2]. Fractional Shares Policy - No fractional shares will be issued; any resulting fractional shares will be rounded down to the nearest whole share, with no cash compensation provided for these fractions [3]. Strategic Rationale - The board believes the share consolidation will enhance the company's flexibility for business development and financing arrangements, with no associated changes to the business model, name, or stock symbol [4]. Future Communications - The company will issue a further news release to announce the effective date of the consolidation along with new CUSIP and ISIN numbers [5]. Company Overview - American Salars Lithium is focused on exploring and developing high-value battery metals projects to cater to the growing electric vehicle market [6].