**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES**
Vancouver, BC – June 30, 2025: Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0) announces that the Company has closed its previously-announced non-brokered private placement for gross proceeds of $900,629.33 (the “Private Placement”), including the conversion of $554,629.33 in debt owing to various creditors. In the Private Placement, the Company issued an aggregate of 9,006,292 units (each, a “Unit”) at a price of $0.10 per Unit, with each Unit consisting of one common share the capital of the Company (each, a “Common Share”) and one-half of one transferable Common Share purchase warrant (each, a “Warrant”). Each full Warrant entitles the holder thereof to purchase one additional Common Share for a period of two years at an exercise price of $0.12 per Common Share.
No finder’s fees were paid in connection with the Private Placement. The Company expects to use the net proceeds of the Private Placement, being $346,000, for general corporate and working capital purposes, and to complete the Company’s previously announced acquisition of the Bornite Copper Project. For additional information regarding that property, please refer to the Company’s news release dated April 4, 2025.
All but 450,000 of the Common Shares and Warrants issued in connection with the Private Placement and Debt Conversion are subject to a hold period of four months and a day in accordance with applicable Canadian securities laws.
One insider of the Company acquired a total of 330,000 Units in the Private Placement upon the conversion of $33,000 worth of debt. The issuance of those Units constitutes a “related party transaction” as that term is defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101, and in particular, Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Units subscribed for by the insider, nor the consideration for the Units paid by the insider, exceeds 25% of the Company’s market capitalization.
None of the securities referenced in this news release have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. person (as defined in Regulation S under the U.S. Securities Act) or any person in the United States absent registration or an applicable exemption from registration. This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities referenced herein in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Ameriwest Lithium Inc.
Ameriwest is an exploration company focused on identifying and acquiring strategic critical mineral projects for exploration and resource development. The Company is advancing its Thompson Valley lithium clay property in Arizona and is in the process of optioning its Railroad Valley lithium brine property in Nevada to Pure Energy Minerals (TSXV: PE). It also has a property in Clayton Valley, Nevada. For more information on the Company, investors should review the Company’s filings available at www.sedarplus.ca.
On Behalf of the Board of Directors
David Watkinson,P.Eng.
Chief Executive Officer
For further information, please contact:
Ameriwest Lithium Inc.
Investor Relations
416 918-6785
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
