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New chairman wastes no time showing faith in American Lithium

Wednesday, November 16, 2016 8:06
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(Before It's News)

Resource sector veteran Marc Bruner has moved into the chair at American Lithium Corp (CVE:LI).

Bruner will deploy his experience to work with management to develop the company’s existing properties and the properties it recently announced it intends to acquire, as well as expand the company’s investor base, American Lithium said.

“With the team and assets the company has put together, American Lithium is positioned to become a leader in the lithium exploration and development in Nevada,” the new chairman said.

Bruner quickly got in the swing of things, expanding the company’s investor base by at least one by participating in a fund-raising the company announced today.

The company intends to raise C$3mln by placing units (shares plus warrants), and Bruner has signed up to buy at least one million units at 30 cents a pop, which works out as a chunky C$300,000 show of faith in the company.

American Lithium will seek to place a minimum of 10mln units, with each unit comprising one common share and a warrant for half a share; a pair of warrants can be converted into a single common share at a cost of 0 cents any time in a two-year period from the issue date.

“We look forward to Marc joining our team,” said Mike Kobler, American Lithium’s chief operating officer.

“His experience and relationships will be an enormous asset to the company as we build out, what we believe, is one of the most exciting lithium exploration and development opportunities in North America,” Kobler added.

Bruner has served as president of GeoSands Energy Advisors since 2013, advising clients as an independent energy consultant on buying and selling domestic energy assets in both the upstream and the oil service sectors.

Previously he had been chairman and chief executive officer of Denver-based Galaxy Energy Corporation, a Powder River Basin coal-bed methane producer that was a publicly-traded company on the American Stock Exchange. 

Story by ProactiveInvestors

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