Pan American Lithium Announces Non-Brokered Private Placement
March 15 2012 - 3:00PM
Pan American Lithium Corp.'s (the "
Company" or
"
Pan American") (TSX-V:PL) (OTCBB:PALTF)
(OTCQB:PALTF) http://www.panamericanlithium.com/ is pleased to
announce that it has entered into a non-brokered private placement
for the sale of 500,000 common shares of the Company (each, a
"
Share") at $0.07 per Share to raise CDN$35,000.
The proceeds will be used for working capital purposes.
The Company has provided POSCO Canada Ltd. ("POSCO") with notice
of this private placement pursuant to POSCO's pre-emptive right
contained in the subscription agreement dated August 23,
2011. POSCO may exercise this right to acquire such number of
shares as to maintain its current percentage of the issued and
outstanding Shares until March 24, 2012. If POSCO exercises this
right, the Company will issue a subsequent news release announcing
the placement by POSCO.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP.
/s/ Andrew Brodkey Andrew A. Brodkey President and CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Jodi Henderson, Corporate Secretary
1-520-989-0032
Email: jhenderson@kriyah.com
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