VANCOUVER, British Columbia, Oct.13, 2017(GLOBE NEWSWIRE) -- Southern Lithium Corp. (TSX-V:SNL) (FSE:SL5) (OTC:SLLTF)("Southern" or "the Company") is pleased to announce the appointment of Yari Nieken as the Chief Executive Officer and a Director of the company.Mr. Nieken has a wide range of public company and capital market experience, and is Founder and President of Foremost Capital Inc. an Exempt Market Dealer in British Columbia. He is currently a director of Marapharm Ventures Inc. as well as Veritas Pharma Inc. and has served on the boards of several public and private issuers including PUF Ventures (President & CEO), Lexagene Holdings Inc. (Director), and Duport Capital Ltd (Director). He was formerly an investment advisor at Union Securities Corp. and continues to be a registrant in good standing in the provinces of British Columbia, Alberta, and Ontario and has raised considerable capital in his career. Mr. Nieken holds an MBA from the Sydney Graduate School of Management and a BA from the University of British Columbia.
The Company also announces a proposed consolidation of its common shares, on the basis of up to 10 existing shares for one new share.Currently, a total of 63,640,800 common shares are issued and outstanding.Accordingly, if put into effect on the basis of 10 existing shares for one new share, a total of 6,364,080 shares will be issued and outstanding following the consolidation, assuming no other change in the issued capital.The consolidation will affect all shareholders uniformly and all of the Company's stock options and warrants issued and outstanding at the effective date.The consolidation is subject to the acceptance of the TSX Venture Exchange.
About Southern Lithium Corp (TSX-V:SNL) (FSE:SL5) (OTC:SLLTF)
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring minerals properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Financial Officer
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Southern Lithium Corp.
Further information about the Company is available on our website at www.southernlithiumcorp.com or under our profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.