On May 11, 2021, American Lithium Corp. completed its acquisition of all of the issued and outstanding common shares of Plateau Energy Metals Inc. by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario), resulting in Plateau becoming a wholly-owned subsidiary of American Lithium. The merger combines two of the largest lithium development projects globally and creates a leading, Americas focused developer of energy metals.
Under the terms of the arrangement, each holder of Plateau shares is entitled to receive 0.29 of a common share and 0.145 of a common share purchase warrant of American Lithium for each Plateau share held. Each whole warrant will entitle the holder to acquire one American Lithium share at a price of $3 until May 11, 2024.
Cassels acted for American Lithium.