updated 6/16/2011 7:17:27 PM ET 2011-06-16T23:17:27

TUCSON, Ariz., June 16, 2011 (GLOBE NEWSWIRE) -- Pan American Lithium Corp. (TSX-V:PL) (OTCQB:PALTF) (the "Company") is pleased to announce in furtherance to its News Release dated May 2, 2011 and May 10, 2011, it has completed a non-brokered private placement (the "Offering") of 4,076,667 (the "Units") at $0.15 per Unit. Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant") entitling the purchaser to acquire one additional Common Share at an exercise price of $0.25 per Common Share until June 16, 2013.

In connection with the Offering, the Company paid a cash finder's fee of $39,650.00 and issued 267,666 warrants (each, a "Finder's Warrants"). Each Finder's Warrants entitles the finder to acquire one additional Common Share at an exercise price of $0.25 per Common Share until June 16, 2013.

All of the securities issued by the Company in connection with the Offering are subject to a hold period expiring on October 17, 2011, except for two US investors whose securities are subject to an additional restrictive legend that expires in accordance with applicable US securities laws.

On Behalf of the Board,

PAN AMERICAN LITHIUM CORP.

"Andrew Brodkey"
Andrew A. Brodkey
President and CEO
520.989.0031

For further information contact:
Jodi Henderson

Corporate Secretary
Tel: 520-989-0032

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.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.96%
$30K home equity loan FICO 5.23%
$75K home equity loan FICO 4.66%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.28%
13.21%
Cash Back Cards 17.73%
17.70%
Rewards Cards 17.00%
16.96%
Source: Bankrate.com