Pursuit Gold Completes Amalgamation with South American Lithium and Receives CSE Conditional Approval for Listing

VANCOUVER, BC / ACCESSWIRE / May 21, 2024 / SALi Lithium Corp. (formerly Pursuit Gold Corp.) (the "Company" or the "Resulting Issuer") is pleased to announce that it has completed its previously announced acquisition of 1477430 B.C. Ltd. (formerly South American Lithium Corp., an Alberta corporation) ("SALi"), by way of a three-cornered amalgamation (the "Amalgamation") carried out under the Business Corporations Act (British Columbia), and that the common shares of the Resulting Issuer have been conditionally approved for listing (the "Listing") on the Canadian Securities Exchange (the "CSE") under the symbol "SALI".

The Amalgamation

The Amalgamation was carried out pursuant to the amalgamation agreement dated July 14, 2023 (the "Amalgamation Agreement") between the Company and SALi, as reinstated and amended on January 29, 2024 and amended on April 30, 2024. Under the Amalgamation, SALi combined with 1477445 B.C. Ltd. ("Pursuit Subco") to become a wholly-owned subsidiary of the Company as the Resulting Issuer. Concurrent with completion of the Amalgamation, the Company changed its name to SALi Lithium Corp.

The Amalgamation was subject to a number of conditions, which were met prior to its implementation, including approval of the shareholders of the Company respecting the Amalgamation as a Fundamental Change and the CSE's clearance of the Company's draft Form 2A Listing Statement respecting the Amalgamation (the "Listing Statement").

Pursuant to the Amalgamation, former shareholders of SALi received an aggregate of 34,503,325 common shares of the Company ("Resulting Issuer Shares") in exchange for their common shares of SALi shares on a one-for-one basis and all outstanding SALi warrants and incentive options became exercisable into Resulting Issuer Shares in accordance with their terms. The Resulting Issuer now has an aggregate of 50,752,325 Resulting Issuer Shares issued and outstanding.

Management of the Resulting Issuer

Following the completion of the Amalgamation, the board and management of the Resulting Issuer were reconstituted through resignations and appointments, so that the following persons are now directors and officers of the Resulting Issuer.

Dustin Nanos - Chief Executive Officer and Director
Christina Blacker - Chief Financial Officer and Corporate Secretary
Ken Booth - Director
Michelle DeCecco - Director and Board Chair
Richard Rosner - Director

Listing Statement and Resumption of Trading

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