American Salars Announces Debt Settlement

Core Viewpoint - American Salars Lithium Inc. has arranged to settle outstanding indebtedness of $129,000 through the issuance of 600,000 common shares at a price of $0.215 per share [1]. Group 1: Debt Settlement Details - The debt settlement will involve a hold period of four months and one day from the date of issuance [2]. - The settlement includes $43,000 owed to the Company's CEO, Nick Horsley's management company, qualifying it as a related party transaction under Multilateral Instrument 61-101 [3]. - The Company plans to rely on exemptions from formal valuation and minority approval requirements, as the fair market value of the debt settlement does not exceed 25% of the Company's market capitalization [3]. Group 2: Company Overview - American Salars Lithium is focused on exploring and developing high-value battery metals projects to cater to the growing electric vehicle market [4].