Western Lithium USA Corporation

Western Lithium USA Corporation

August 20, 2015 07:30 ET

Western Lithium Appoints PricewaterhouseCoopers LLP as its Auditor

VANCOUVER, BITISH COLUMBIA--(Marketwired - Aug. 20, 2015) - Western Lithium USA Corporation ("Western Lithium" or "the Company") (TSX:WLC)(OTCQX:WLCDF) is pleased to announced that it has appointed PricewaterhouseCoopers LLP ("PwC") as the Company's auditors, effective August 18, 2015. The appointment of PwC, an internationally recognized audit firm, coincides with the Company's next stage of expected growth as it completes a proposed merger with Lithium Americas Corporation, advances development of the merged Company's lithium deposits based in Nevada and Argentina, and pursues sales of its drilling additive Hectatone™ products. The Company's Board of Directors and Management would like to thank Crowe MacKay LLP Chartered Accountants (the "Former Auditors"), who resigned at the request of the Company, for eight years of excellent service.

There were no disagreements or unresolved issues with the Former Auditors on any matter of audit scope or procedure, accounting principles or policies, or financial statement disclosure. It is the Company's opinion that there have been no reportable events (as defined in National Instrument 51 102 (Part 4.11)) between the Company and the Former Auditors. The Former Auditors did not have any reservation in their auditors' report for the financial statements for the Western Lithium's last two fiscal years or for any period subsequent to the date the most recent audit report was issued and preceding the date of resignation.

Notice of Change of Auditor, together with the required letters from the former and newly appointed auditors, have been filed with securities regulatory authorities in Canada and can be found on www.sedar.com.

About Western Lithium

Western Lithium is developing its Kings Valley, Nevada, lithium deposit into a strategic, scalable and reliable source of high quality lithium products. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium that is expected from the increased use of hybrid/electric vehicles, consumer electronics, and consumer and industrial lithium battery storage applications. In addition, Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, Hectatone™ and potentially other organoclays for the oil and gas and other industries.

Forward-Looking Statements

Forward-looking information expresses, as at the date of this news release, plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. All such forward-looking information is based on certain assumptions, estimates, expectations, analyses and opinions made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Assumptions upon which such forward-looking information is based include, without limitation: that shareholders of Western Lithium and Lithium Americas will approve the business combination; that all required third party, regulatory and governmental approvals to the business combination will be obtained and all other conditions to completion of the business combination will be satisfied or waived; the business combination will be completed; no significant event occurring outside of the ordinary course of business of Western Lithium and Lithium Americas; legislative and regulatory environment; impact of increasing competition; current technological trends; prices of lithium and potash; costs of development and production; anticipated results of exploration and development activities; Western Lithium's and/or Lithium America's ability to operate in a safe and effective manner; and ability to obtain financing on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive.

Forward-looking information in this news release includes, but is not limited to: information concerning the proposed business combination between Western Lithium and Lithium Americas; the business, operations and financial performance and condition of the combined company; synergies and the financial impact of the business combination; potential benefits of the business combination and the development potential of the properties of Western Lithium and Lithium Americas; expected completion and implementation of the business combination; the nature of Western Lithium's operations and Western Lithium's business outlook following completion of the business combination; plans and objectives of management for future operations; the potential to become a supplier of lithium products to battery manufacturers and a supplier of Hectatone™ specialty drilling additives, and potentially other organoclays for the oil and gas and other industries; and ability to realize value from Lithium America's core assets.

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