Vancouver-based miner American Lithium has an-nounced that it entered into an agreement with Eight Capital, acting on behalf of a syndicate of agents comprising Echelon Wealth Partners Inc. and TD Securities Inc., as co-lead agents and joint bookrunners, to launch a private placement for up to US$20 million.
“The gross proceeds of the Offering will be used for exploration and de-velopment of the Company’s TLC Project, Falchani Project and the Ma-cusani Project, and for working capital and general corporate purposes,” the company said in a statement.
American Lithium says it is focused on the acquisition, exploration and development of lithium projects throughout North and South America.
The firm is involved in the “exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru,” according to the statement.