American Lithium Minerals Inc. (OTCPK:AMLM)announced a private placement of 10,000,000 units at CAD 0.125 per unit for gross proceeds of CAD 1,250,000 on February 28, 2017. Each unit will comprise of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at CAD 0.25 per share for a period of 36 months after the closing. The company has issued 206,160 units to persons introducing subscribers to the company. All securities issued in connection with the transaction are subject to a four-month-and-one-day statutory hold period.