American Salars Lithium Inc. has arranged a non-brokered private placement of 2,500,000 units at a price CAD 0.2 per unit for gross proceeds CAD 500,000 on May 9, 2024. Each unit comprised one common share and one-half a transferable common share purchase warrant. Each two half warrants entitles the holder to purchase one additional common share for a period of 12 months at a price of CAD 0.25 per share.

All securities issued will be subject to a four-month-and-one-day hold period from the date of issuance pursuant to applicable securities legislation. In addition, the half warrants and shall contain certain provisions such that the holder shall only be entitled to exercise such warrants to the extent that the holder will own, directly or indirectly, less than 10% of the issued and outstanding common shares of the company immediately following such exercise.