American Lithium acquires Plateau Energy Metals
American Lithium (TSXV:LI) announced yesterday that it acquired Plateau Energy Metals.
Upon completion of the transaction, Plateau shareholders will hold approximately 21% of American Lithium’s shares on an outstanding undiluted basis. American Lithium said the deal represents a 72% premium to Plateau shareholders using the trailing 20-day volume weighted average trading price.
Both company CEOs lauded the deal saying it will grow the overall resource.
Michael Kobler, CEO and Director of American Lithium, stated: “We are very pleased to be able to add Plateau and its assets to the American Lithium platform. We believe that Falchani offers geographic and geological diversity in one of the leading mining jurisdictions in South America and one of the strongest emerging markets globally. The combination of assets and key personnel is complimentary and will position American Lithium with a large and diverse lithium resource base and strong technical expertise from which to unlock significant additional shareholder value.”
Laurence Stefan, President and COO of Plateau, further added: “This Transaction represents a significant premium for our shareholders and allows us to gain exposure to an asset portfolio in Nevada, a successful team, and a larger public company platform possessing access to capital and excellent trading liquidity. Certain members of Plateau’s team and board will continue on with the newly diversified company to provide for continuity.”