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Ameriwest Lithium Announces OTC Symbol Change and Entry into Marketing Agreement
VANCOUVER, British Columbia, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a Nor
About this update from Ameriwest Critical Metals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce that, effective at market open on August 23, 2021, the OTC ticker symbol for the Company’s common shares will change from AMRWF to AWLIF. The new symbol is more consistent with the Company’s stock symbol on the Canadian Securities Exchange (the “CSE”), which is Ameriwest’s primary trading market. The Company's common shares will continue to trade on the CSE under the symbol AWLI and on the Frankfurt Stock Exchange under the symbol 5HV0. In addition, Ameriwest is pleased to announce that the Company has entered into an online marketing agreement (the “Agreement”) with Promethean Marketing Inc., a Maryland-based communications firm (“Promethean”), pursuant to which Promethean will design, create, and distribute advertising content on Ameriwest’s behalf. The Agreement is effective as of August 1, 2021, is for a term of five (5) months and may be terminated at the Company’s option at any time upon 30 days’ notice in writing to Promethean. The primary purpose of the Agreement is to enhance Ameriwest’s exposure among mining industry stakeholders and investors in the United States. Importantly, the Agreement contains strict prohibitions on Promethean (i) distributing any materials in respect of Ameriwest without the express written approval of the Company’s CEO, and (ii) undertaking any activities that may require Promethean to register as a broker-dealer in the Unites States or elsewhere. In exchange for the services being provided by Promethean under the Agreement, which are not intended to constitute “Investor Relations Activities” as that term is defined in the policies of the CSE, the Company has agreed to pay Promethean a non-refundable deposit of US$150,000 (the “Deposit”) plus a fee of US$250,000 for the duration of the term, which fee is refundable to Ameriwest on a pro-rata basis in the event that the Agreement is terminated prior to the completion of the term. Pursuant to the Agreement, Promethean is required to use the proceeds of the Deposit for content creation purposes. The Agreement contains standard covenants of the parties, as well as reciprocal confidentiality provisions, in...