Market Newsdesk

RENO, Nev., Dec. 11, 2024 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE: ORA) (“Ormat” or the “Company”), a leading geothermal and renewable energy technology company, announced today the commencement of an underwritten secondary offering of an aggregate of 3,700,000 shares of its common stock on behalf of ORIX Corporation. Ormat is not offering any of its common stock in the offering for its own account and will not receive any proceeds from the sale of the shares being offered by the selling stockholder.

Goldman Sachs & Co. LLC is acting as the sole book-running manager and underwriter for the offering. Goldman Sachs & Co. LLC will have a 30-day option to purchase up to an additional 555,000 shares of Ormat’s common stock from ORIX Corporation.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

The offering is being made pursuant to an automatically effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission on December 11, 2024. The offering may be made only by means of a base prospectus and a related prospectus supplement, copies of which may be obtained by contacting c/o Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or email at [email protected].

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,500MW with a 1,230MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 270MW energy storage portfolio that is located in the U.S.

FORWARD-LOOKING STATEMENTS

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements concerning the completion of the offering. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under “Risk Factors” as described in Ormat’s annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 23, 2024, and in Ormat’s subsequent quarterly reports on Form 10-Q and annual reports on Form 10-K that are filed from time to time with the SEC.

These forward-looking statements are made only as of the date hereof, and, except as legally required, Ormat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

LIBERTY LAKE, Wash., Dec. 11, 2024 (GLOBE NEWSWIRE) — Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, marks a significant milestone with the 50th deployment of its Temetra^® solution in Australia, which is being deployed by Aqwest, the provider of drinking water to the City of Bunbury and its surrounding areas in Western Australia. With Itron’s cloud-based multi-vendor meter data collection and management solution, Aqwest will be able to manage its existing mechanical meters while enhancing and optimizing operations.

Aqwest selected Temetra, Itron’s innovative cloud-based solution, to simplify meter data collection by utilizing a solution capable of incorporating multi-vendor meter reads. With the adoption of Temetra, Aqwest can now upgrade to digital meters at a pace best suited for its operations and seamlessly collect meter readings from existing mechanical meters and future smart meters through a single data collection and management platform. This multi-vendor capability allows Aqwest to gain comprehensive insights into consumption patterns through one unified platform.

Utilizing Aqwest’s existing communication protocols and meter vendors, Temetra will collect, record and upload meter data using the handheld mobile Android devices currently in use by the utility. Temetra provides valuable insights by analyzing both current reads and historical data, enabling Aqwest to address customer billing questions and detect potential water leaks.

This 50^th customer milestone reinforces Itron’s commitment to addressing water scarcity in Australia and ensuring that communities are better equipped to manage water operations. The Temetra solution enables utilities to address critical water management tasks more efficiently. These capabilities are key to helping utilities anticipate and address potential water challenges before they turn into a crisis, such as losing water within the distribution system.

“Aqwest is committed to providing sustainable, high-quality drinking water to the Bunbury Region. As the effects of climate change continue to impact on local water security, having an efficient water management system in place is crucial,” said Gary Hallsworth, chief executive officer at Aqwest. “We are delighted to be working with Itron to upgrade our water metering infrastructure to improve our customer consumption data and billing capabilities.”

“Australia is no stranger to water shortages due to its dry climate, recurring droughts and the challenges caused by climate disruption, making water management a complex issue. On top of these challenges, population growth is increasing the demand on existing water infrastructure, much of which is aging and prone to inefficiencies,” said Don Reeves, senior vice president of Outcomes at Itron. “We are excited to celebrate this significant milestone. Working together with Australian utilities, we strive to deploy efficient solutions to address these challenges and to ensure that both remote and urban communities are equipped to tackle water management. With Temetra, utilities across the country are another step closer to water security.”

Temetra is a globally adopted, cloud-based, multi-vendor, multi-commodity, meter data management solution. Temetra supports a variety of meter manufacturers and communications protocols enabling a smooth migration from automated meter reading to advanced meter reading. Temetra’s open ecosystem solution enables interoperability at all levels and supports multiple data collection technologies concurrently, providing utilities a smooth migration path from manual to smart metering. Storing meter read data from a variety of sources in one location, combined with other innovations like map-based routing, enhances operational efficiency. Temetra has demonstrated scalability, accommodating thousands of customers ranging in size from several hundred meters to several million.

About Itron

Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.

Itron^®, the Itron Logo and Temetra are registered trademarks of Itron, Inc in the United States and other countries and jurisdictions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Sharon Chong
Field Marketing Manager, Asia Pacific
Office: +65 69837687
[email protected]

Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]

Itron, Inc.

• LinkedIn: www.linkedin.com/company/itroninc
• X: https://twitter.com/ItronInc
• Newsroom: https://itron.com/newsroom
• Blog: https://itron.com/blog

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

• Manitex International, Inc. (Nasdaq:
  
  
  MNTX
  
  
  ), relating to its proposed merger with Tadano Ltd. Under the terms of the agreement, Manitex International shares will automatically be converted into the right to receive $5.80 in cash per share.

ACT NOW. The Shareholder Vote is scheduled for December 20, 2024.

Click here for more

https://monteverdelaw.com/case/manitex-international-inc/
. It is free and there is no cost or obligation to you.

• Patterson Companies, Inc. (NASDAQ:
  
  
  PDCO
  
  
  ), relating to the proposed merger with Patient Square Capital. Under the terms of the agreement, shareholders of Patterson will receive $31.35 in cash per share.

Click here for more
https://monteverdelaw.com/case/patterson-companies-inc-pdco/. It is free and there is no cost or obligation to you.

• First of Long Island Corp. (Nasdaq:
  
  
  FLIC
  
  
  ), relating to its proposed merger with ConnectOne Bancorp, Inc. Under the terms of the agreement, FLIC anticipates acquiring ConnectOne shares at the price of 0.5175 shares of FLIC common stock.

Click here for more information:

https://monteverdelaw.com/case/first-of-long-island-corp/
. It is free and there is no cost or obligation to you.

• MoneyLion Inc. (NYSE:
  
  
  ML
  
  
  ), relating to the proposed merger with Gen Digital Inc. Under the terms of the agreement, shareholders of MoneyLion will receive $82.00 per share in cash, and, in addition, one contingent value right per share entitling the shareholder to a contingent payment of Gen Digital common stock.

Click here for more
https://monteverdelaw.com/case/moneylion-inc-ml/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

1. Do you file class actions and go to Court?
2. When was the last time you recovered money for shareholders?
3. What cases did you recover money in and how much?

About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) — In the context of Capital Link’s Deep Dive Series, Mr. Jerry Kalogiratos, CEO of Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), joined Mr. Nils Thomessen, Deputy Head of Fearnley Securities, for an in-depth discussion on CCEC’s development, objectives, strategy and sector outlook. CCEC is positioning as a premier carrier of various forms of gas to industrial customers, including LNG, and new commodities emerging as the result of the energy transition.

Key highlights from the webinar include:

1.The critical role of LNG in the evolving energy landscape.

2.CCEC’s strategic divestments and recapitalization to enhance focus on clean energy assets.

3.Insights into the company’s strategic transformation into a C-Corp structure.

4.An assessment of current market dynamics, challenges, and emerging opportunities in the clean energy transportation sector.

The full interview can be accessed on the link below:


https://www.youtube.com/watch?v=R2u3kbPTs90&t=677s

FORWARD LOOKING STATEMENTS
This webinar may contain “forward-looking statements.” Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “may,” “will,” “should” and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the beliefs of each participating Company regarding future results, many of which, by their nature are inherently uncertain and outside of the control of the Companies. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For more information about risks and uncertainties associated with the participating companies, please refer to the regulatory filings of each participating company with the SEC.

About Clean Energy Carriers Corp.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping company, is one of the world’s leading platforms of gas carriage solutions with a focus on energy transition. CCEC’s in-the-water fleet includes 20 high specification vessels, including 12 latest generation LNG/Cs and eight legacy Neo-Panamax container vessels. In addition, CCEC’s under-construction fleet includes six additional latest generation LNG/Cs, six dual-fuel medium gas carriers and four handy liquid CO2/multi-gas carriers, to be delivered between the first quarter of 2026 and the third quarter of 2027. CCEC has agreed to sell five Neo-Panamax container vessels by the first quarter of 2025. For more information about the Company, please visit: www.capitalcleanenergycarriers.com.

ABOUT CAPITAL LINK – DISCLAIMER
Founded in 1995, Capital Link provides Investor Relations and Media services to several listed companies, including companies mentioned in this webinar. Our webinars, including the one today, are for informational and educational purposes and should not be relied upon. They do not constitute an offer to buy or sell securities or investment advice or advice of any kind. The views expressed are not those of Capital Link which bears no responsibility for them. In addition, Capital Link organizes a series of investment conferences annually in key industry centers in the United States, Europe and Asia, all of which are known for combining rich educational and informational content with unique marketing and networking opportunities. Capital Link is a member of the Baltic Exchange. Based in New York City, Capital Link has presence in London, Athens & Oslo. For additional information please visit: www.capitallink.com

For more information, please email [email protected] or call +1 212 661-7566.

BOCA RATON, Fla., Dec. 11, 2024 (GLOBE NEWSWIRE) — Saxena White P.A. issues this notice to update and replace a prior press release issued by Saxena White on December 11, 2024. Plaintiff City of Fort Lauderdale Police and Firefighters’ Retirement System has filed a Notice of Scrivener’s Error with the United States District Court for the Middle District of Tennessee, which attaches a corrected Class Action complaint correcting a typographical error that inadvertently defined the Class Period as beginning on February 8, 2020, whereas the Class Action complaint alleges that the Class Period begins on February 28, 2020. The prior press release issued by Saxena White on December 11, 2024 contained the same typographical error. The Class Action asserts claims on behalf of all persons and entities that purchased or otherwise acquired Acadia Healthcare Company, Inc. securities between February 28, 2020 and October 30, 2024, inclusive. The full, updated press release follows:

Saxena White P.A. has filed a securities fraud class action lawsuit (the “Class Action”) in the United States District Court for the Middle District of Tennessee against Acadia Healthcare Company, Inc. (“Acadia Healthcare,” “Acadia,” or the “Company”) (NASDAQ: ACHC) and certain of its executive officers (collectively, “Defendants”). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated thereunder on behalf of all persons and entities that purchased or otherwise acquired Acadia Healthcare securities between February 28, 2020 and October 30, 2024, inclusive (the “Class Period”), and were damaged thereby (the “Class”). The Class Action filed by Saxena White is captioned City of Fort Lauderdale Police and Firefighters’ Retirement System v. Acadia Healthcare Company, Inc., et al., No. 24-cv-1447 (M.D. Tenn.).

The Class Action complaint expands the class period and allegations asserted in a related action against Acadia and certain of its executive officers captioned: Kachrodia v. Acadia Healthcare Company, Inc., et al., No. 24-cv-1238 (M.D. Tenn. filed Oct. 16, 2024) (the “Kachrodia Action”). Specifically, the Class Action expands the class period pled from February 28, 2020 to October 18, 2024 in the Kachrodia Action, to February 28, 2020 to October 30, 2024 in the Class Action.

Pursuant to the notice published on October 16, 2024 in connection with the filing of the Kachrodia Action, and as required by the Private Securities Litigation Reform Act of 1995 (PSLRA), investors wishing to serve as lead plaintiff are required to file a motion for appointment as lead plaintiff by no later than December 16, 2024. Saxena White’s filing of the Class Action does not alter the lead plaintiff deadline.

Based in Franklin, Tennessee, Acadia Healthcare purports to be the leading publicly traded pure-play provider of behavioral healthcare services in the United States. Acadia claims that it is committed to providing communities with high-quality, cost-effective behavioral healthcare services, while growing the Company’s business, increasing profitability, and creating long-term value for shareholders. Most of Acadia’s revenue comes from acute inpatient psychiatric facilities. Acadia receives payments from various payors, including states and the federal government under their respective Medicaid programs. Throughout the Class Period, Defendants touted the quality and safety of Acadia’s inpatient services and the Company’s strong financial performance driven by solid volumes and growth in patient days (i.e., length of stay) and same facility revenue. Defendants further touted strong revenue trends driven by rate increases across all payors and positive coverage and reimbursement trends from Medicaid, Acadia’s largest source of revenue.

The Class Action alleges that, during the Class Period, the Defendants made materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects, including that: (1) Acadia admitted patients and held them against their will and beyond the length of time that was medically necessary in order to deceive payors into continuing to pay for such patients’ care; (2) Acadia would not release patients until their insurance ran out; (3) in order to achieve the above, Acadia deployed Company assessors to pressure emergency rooms to send patients to Company facilities, filed frivolous petitions with courts to delay patients’ release, and directed employees to use buzzwords and avoid using other words in patients’ charts to create a false impression of patients’ mental state; (4) Acadia’s admissions, length of stay, and billing practices would subject the Company to government investigations and actions and heightened media scrutiny; (5) in light of such government investigations and actions and media scrutiny, Acadia’s relationships with its referral sources would be negatively impacted; (6) as a result of the above, Acadia experienced slower same-store patient volumes, and in turn, the Company would be forced to lower its full-year 2024 outlook; and (7) as a result of the above, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On September 1, 2024, investors began to learn the truth about Acadia’s inpatient services when The New York Times (the “Times”) published an article, entitled “How a Leading Chain of Psychiatric Hospitals Traps Patients,” reporting that some of Acadia’s success “was built on a disturbing practice: Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary.” On this news, the price of Acadia stock fell more than 4.5%, from a closing price of $81.93 per share on August 30, 2024, the prior trading day, to a closing price of $78.21 per share on September 3, 2024, the following trading day.

On September 26, 2024, the Times published another article, entitled “Acadia Hospitals Reach $20 Million Settlement With Justice Dept,” reporting that Acadia had agreed to a nearly $20 million settlement with the U.S. Department of Justice, related to an investigation into the Company’s practices of holding “patients for longer than necessary” at its facilities and admitting “people who didn’t need to be there.” On September 27, 2024, Acadia disclosed that it had received a request for information from the U.S. Attorney’s Office for the Southern District of New York and a grand jury subpoena from the U.S. District Court for the Western District of Missouri “related to its admissions, length of stay and billing practices.” On this news, the price of Acadia stock fell more than 16%, from a closing price of $75.66 per share on September 26, 2024, to a closing price of $63.28 per share on September 27, 2024.

On October 3, 2024, Acadia received a letter from Adam B. Schiff, Judy Chu, and Julia Brownley, members of the U.S. House of Representatives from California, seeking answers to questions raised by reports “that inpatient psychiatric facilities owned by Acadia Healthcare have wrongfully detained patients under medically unnecessary circumstances.” On this news, the price of Acadia stock fell more than 3.5%, from a closing price of $58.80 per share on October 2, 2024, to a closing price of $56.71 per share on October 3, 2024.

On October 18, 2024, the Times published another article entitled “Veterans Dept. Investigating Acadia Healthcare for Insurance Fraud,” reporting that the Veterans Affairs Department is investigating whether Acadia “is defrauding government health insurance programs by holding patients longer than is medically necessary” and “whether Acadia billed insurance programs for patients who were stable enough to be released and did not need intensive inpatient care.” On this news, the price of Acadia stock fell more than 12%, from a closing price of $59.32 per share on October 17, 2024, to a closing price of $52.03 per share on October 18, 2024.

The truth was fully revealed on October 30, 2024 when Acadia issued a press release announcing its financial results for the third quarter of 2024. In the press release, Acadia disclosed that it had lowered its full-year 2024 revenue outlook to a range of $3.15 to $3.165 billion and its full-year 2024 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to a range of $725 to $735 million. During the related earnings call held the next day on October 31, 2024, Chief Financial Officer (CFO) Heather Dixon disclosed that the lowered full-year 2024 guidance was in part due to slower same-store patient day growth of only 3% in the month of October, “which we believe is a result of the recent headlines and reporting in the media.” On this news, the price of Acadia stock fell $9.39 per share, or more than 18%, from a closing price of $52.08 per share on October 30, 2024, to a closing price of $42.69 per share on October 31, 2024.

If you purchased Acadia Healthcare securities during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Middle District of Tennessee no later than December 16, 2024. The lead plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.

You may contact Marco A. Dueñas ([email protected]), a Senior Attorney at Saxena White P.A., to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You also may retain counsel of your choice to represent you in the Class Action. You may obtain a copy of the Complaint and inquire about actively joining the Class Action at www.saxenawhite.com.

Saxena White P.A., with offices in Florida, New York, California, and Delaware, is a leading national law firm focused on prosecuting securities class actions and other complex litigation on behalf of injured investors. Currently serving as lead counsel in numerous securities class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.

CONTACT INFORMATION
Marco A. Dueñas, Esq.
[email protected]
Saxena White P.A.
10 Bank Street, Suite 882
White Plains, New York 10606
Tel.: (914) 437-8551
Fax: (888) 631-3611
www.saxenawhite.com

VANCOUVER, British Columbia, Dec. 11, 2024 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is announcing that its Board of Directors has approved the voluntary delisting of its common shares (“American Lithium Shares”) from the Nasdaq Capital Market (“Nasdaq”) and the deregistration with the U.S. Securities and Exchange Commission (the “SEC”). American Lithium has notified Nasdaq of its intention to voluntarily delist the American Lithium Shares. The Company currently anticipates that it will file with the SEC a Form 25, Notification of Removal of Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to the delisting and deregistration on or about December 20, 2024, with the delisting of American Lithium Shares taking effect ten calendar days thereafter. As a result, the last trading day of the American Lithium Shares on the Nasdaq Capital Market will be December 27, 2024.

The American Lithium Shares will continue their listing on the TSX Venture Exchange and the Frankfurt Stock Exchange. In addition, American Lithium has applied for the American Lithium Shares to be quoted on the OTCQX Markets in the United States, operated by OTC Markets Group Inc. The Company anticipates transferring their shares on to the OTCQX Best^® Market immediately following the Nasdaq delist. American Lithium will continue to provide information to its shareholders and take such actions to enable a trading market in the American Lithium Shares to exist in the United States.

Following satisfaction of the relevant deregistration conditions under the applicable U.S. federal securities laws, the Form 25 will also terminate the Company’s reporting obligations under the Exchange Act. The Company expects that its reporting obligations will be suspended upon filing of the Form 25.

As previously disclosed, on March 8, 2024, Nasdaq notified the Company that it was not in compliance with the minimum bid price requirement of US$1.00 per share under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the American Lithium Shares for the thirty consecutive business days from January 25, 2024 to March 7, 2024. The Company was initially provided 180 calendar days from the date of the notice, or until September 4, 2024, to regain compliance with the minimum bid requirement. On September 11, 2024 Nasdaq notified the Company that it was eligible for an additional 180 calendar period, or until March 3, 2025, to regain compliance with the minimum bid price requirement of US$1.00 per share.

The Board of Directors of the Company believes that the decision to delist the American Lithium Shares from Nasdaq and to terminate its reporting obligations under the Exchange Act is in the best interest of the Company and its shareholders. The Board has determined that the burdens associated with operating as a company listed on the Nasdaq outweigh any advantages to the Company and its shareholders at this time. The Board’s decision was based on careful review of numerous factors, including the following:

• the ongoing direct and indirect costs of Exchange Act compliance and maintaining a continued listing of the American Lithium Shares on Nasdaq, including director and officer insurance premiums, audit fees, legal fees and regulatory fees, and the disproportionate impact of the foregoing costs on the Company’s results of operations;
• the significant burden on Management involved in the preparation of the Company’s public reports, shorter public reporting deadlines in Canada, and compliance with accounting and other requirements of the Exchange Act;
• the limited benefits to the Company and its unaffiliated shareholders from the Company’s status as a SEC reporting issuer in light of, among other things, the fact that due to market conditions, the low share price, market capitalization, lack of institutional interest and liquidity in the United States for the American Lithium Shares;
• the Company is not currently in a position to use its public Company status to issue meaningful amounts of equity securities in the United States or make acquisitions due to market conditions; and
• the opposition by many large shareholders to a share capital consolidation.

American Lithium reserves the right, for any reason, to delay any of the filings described above, to withdraw them prior to effectiveness, and to otherwise change its plans in respect of delisting and deregistration and termination of its reporting obligations under applicable U.S. federal securities laws in any way. Completion of any listing on the OTCQX Markets remains subject to the satisfaction of customary listing conditions and regulatory approval, and there can be no assurance that the American Lithium Shares will be listed for trading on the OTCQX Markets.

Ab


out American Lithium

American Lithium is developing two of the world’s largest, advanced-stage lithium projects, along with the largest undeveloped uranium project in Latin America. They include the TLC claystone lithium project in Nevada, the Falchani hard rock lithium project and the Macusani uranium deposit, both in southern Peru. All three projects have been through robust preliminary economic assessments, exhibit significant expansion potential and enjoy strong community support.

For more information, please contact the Company at [email protected] or visit our website at www.americanlithiumcorp.com.

Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board of Directors of American Lithium Corp.

“Alex Tsakumis”

Interim CEO

Tel: 604 428 6128

Neither the 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 press release.

Cautionary Statement Regarding Forward Looking Information

This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the business plans, expectations and objectives of American Lithium
;
the voluntary delisting of the American Lithium Shares from the Nasdaq Capital Market; the deregistration with the SEC; the quotation on the OTC Markets in the United States; and continued listing on the TSX Venture Exchange. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management and are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on October 15, 2024, and in recent securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Cautionary Note Regarding 32 Concessions

Thirty-two of the one-hundred-seventy-four concessions comprising the Falchani and Macusani Projects are currently subject to Administrative and Judicial processes in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared title to thirty-two concessions invalid due to late receipt of the annual validity payments. On November 2, 2021, American Lithium was awarded a favorable ruling in regard to title to the concessions, but on November 26, 2021, appeals of the judicial ruling were lodged by INGEMMET and MINEM. A three-judge tribunal of Peru’s Superior Court unanimously upheld the ruling in a decision reported in November 2023. American Lithium was subsequently notified that INGEMMET and MINEM have filed petitions to the Supreme Court of Peru to assume jurisdiction in the proceedings. Given the precedent of the original ruling it is hoped that the Supreme Court will not assume jurisdiction; however, there is no assurance of the outcome at this time.

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) — Valley National Bancorp (NASDAQ: VLY) (“Valley”), the holding company for Valley National Bank (the “Bank”), announced that Thomas A. Iadanza has notified the Company of his intention to retire from his position as President effective June 30, 2025. Mr. Iadanza has led a distinguished 45-year career in banking including over the last 13 years at Valley. In his role as President, Mr. Iadanza has helped to lead Valley’s growth efforts and evolution to a leading regional bank.

Mr. Iadanza joined Valley through the 2012 acquisition of State Bancorp, Inc. (“State”) where he served as Chief Lending Officer. Prior to joining State, Mr. Iadanza held leadership roles at Santander Bank, N.A., Independence Community Bank Corp., Citibank, and European American Bank.

Ira Robbins, Chairman and Chief Executive Officer of Valley, commented, “I am extremely grateful for Tom’s leadership, mentorship, and friendship over the last 13 years. Tom’s dedication to our customers, employees, and stakeholders has contributed meaningfully to our successful evolution. He is the consummate relationship banker and continues to provide the template for our bankers to emulate across the franchise. On behalf of Valley, our employees, and our Board of Directors, we wish Tom all the best in his well-earned retirement.”

Mr. Iadanza will remain in his role as President until his retirement in June 2025. In that time, Mr. Iadanza will work with the Board of Directors and executive leadership team to facilitate a seamless transition of his duties and responsibilities.

About Valley

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with over $62 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations and commercial banking offices in New Jersey, New York, Florida, Alabama, California, and Illinois and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Care Center at 800-522-4100.