VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Southern Lithium Corp. (TSX-V:SNL) (FSE:SL5) (OTC:SLLTF) ("Southern" or "the Company") is pleased to announce the appointment of Yari Nieken as the Chief Executive Officer and a Director of the company. Mr. Nieken has a wide range of public company and capital market experience, and is Founder and President of Foremost Capital Inc. an Exempt Market Dealer in British Columbia. He is currently a director of Marapharm Ventures Inc. as well as Veritas Pharma Inc. and has served on the boards of several public and private issuers including PUF Ventures (President & CEO), Lexagene Holdings Inc. (Director), and Duport Capital Ltd (Director). He was formerly an investment advisor at Union Securities Corp. and continues to be a registrant in good standing in the provinces of British Columbia, Alberta, and Ontario and has raised considerable capital in his career. Mr. Nieken holds an MBA from the Sydney Graduate School of Management and a BA from the University of British Columbia.
The Company also announces a proposed consolidation of its common shares, on the basis of up to 10 existing shares for one new share. Currently, a total of 63,640,800 common shares are issued and outstanding. Accordingly, if put into effect on the basis of 10 existing shares for one new share, a total of 6,364,080 shares will be issued and outstanding following the consolidation, assuming no other change in the issued capital. The consolidation will affect all shareholders uniformly and all of the Company’s stock options and warrants issued and outstanding at the effective date. The consolidation is subject to the acceptance of the TSX Venture Exchange.