LAKE TAHOE, NV, June 14 /PRNewswire-FirstCall/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce that Cohen Independent Research Group, Inc. (www.cohenresearch.com) the Investor Awareness Industry's Research Firm of Choice, announced that it has updated its coverage on AmeriLithium Corp. (AMEL) a lithium exploration and mining company head-quartered in Nevada. The updated report was issued with a target price of $4.73, up from $3.63 in the previous report.
The Cohen research report stated that Lithium (Li) is one of the fastest emerging sources of clean energy. The demand for lithium is expected to grow manifold due to its diverse application and environmental friendly impact. The Company intends to capitalize on this emerging market opportunity with the acquisition of 723,969 acres of exploration properties. The Company has already started utilizing the $10 million equity drawdown facility. AmeriLithium announced acquisition of two more properties in Nevada, USA, Clayton Deep and Full Monty. Initial tests conducted on these properties by US Geological Survey have yielded significant mineral deposit estimates.
Cohen Independent Research Group, Inc. (www.cohenresearch.com) and Grass Roots Research are the brand names and are the worldwide Gold Standard for micro cap/small cap research. Cohen Research has raised the art of fundamental securities research by forecasting the three statements and valuing all of its companies in three cases over a 5 year time period. Cohen Research distributes in-depth stock market research reports that highlight the company's market opportunity, technology, management, competition and other key differentiators that may affect their short and long term valuation.
FOR MORE INFORMATION
Additional information regarding the Company, can be found at AmeriLithium's corporate website www.amerilithium.com along with the facility to sign up for regular news updates.
Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses Lithium in alloys. Of particular interest is the use of Lithium for battery production, which has expanded significantly in recent years due to rechargeable Lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity Lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.
ABOUT AMERILITHIUM CORPORATION.
AmeriLithium Corp. (AMEL) is a lithium exploration and mining company . The Company primarily targets the automobile sector which is experiencing a paradigm shift towards non-fossil fuel based cars. AMEL remains focused on expanding through strategic acquisition of properties with rich mineralization prospects. The Company has acquired exploration lands of approximately 723,969 acres, which includes two Nevada-based projects in the US, one project in Alberta, Canada and 3 projects in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
Matthew Worrall, Chief Executive Officer
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. AmeriLithium Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to AmeriLithium Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. AmeriLithium Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
The CIR report was written independently by Cohen Independent Research. CIR has not owned or traded shares of the Company. The Company has paid $5,500 to CIR for the report referenced herein.
SOURCE AmeriLithium Corp.