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American Lithium Receives Official Peruvian Judicial Ruling Confirming Title to Disputed Concessions - Five-day appeal process triggered
VANCOUVER, British Columbia, Nov. 16, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:
About this update from American Lithium Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 16, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) was officially notified, early evening on November 15, 2021, of the judicial ruling issued in favour of Macusani Yellowcake S.A.C., the Company’s Peruvian subsidiary, in relation to title over 32 disputed concessions out of its 151 concessions in Peru. The Company notes that this notification confirms the judgement previously reported to the Company, and previously announced, and marks the start of a five working day process during which appeals may be lodged by relevant parties. American Lithium has obtained information, yet to be officially verified, that the judgement will be appealed by the regulatory authorities (typically the case in these proceedings) but has not yet received details or official confirmation. The Company will provide further updates once information has been received through official notification. As released by the Company on November 3, 2021, the presiding judge’s strong and definitive decision restoring the Company’s ownership title over the 32 concessions disputed by INGEMMET was announced in Court SALA 6, and issued digitally on the afternoon of November 2, 2021 (Link to: Spanish Ruling here). The Company has obtained a Certified English Translation of the judicial resolution, which is provided through here (Link to: Certified English translation). Simon Clarke, CEO of American Lithium, stated, “Official receipt of the judicial ruling confirming title to our 32 disputed concessions represents an excellent outcome for the Company and is the right decision following the lengthy judicial process, further delayed by the COVID pandemic. It is typical for Peruvian regulators to appeal judicial decisions as a matter of course, however, the strength of the presiding judge’s arguments supporting our maintained ownership to the disputed concessions gives us great comfort that any appeal will be unsuccessful. We look forward to pushing ahead with our in-depth plans for further development and exploration at both the Falchani Lithium and Macusani Uranium projects.” About American Lithium American Lithium, a member of the TSX 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdicti...