HENDERSON, Nev., July 28, 2014 (GLOBE NEWSWIRE) -- AMERILiTHIUM Corp. (OTCBB:AMEL), (the "Company" or "AMERILiTHIUM") ( www.AMERILiTHIUM.com) is pleased to announce it has signed a Letter of Intent to acquire Patten Energy, Inc. ("Patten") of Los Angeles, CA. The Company's acquisition of Patten, which is subject to definitive documentation, is part of the broader strategic initiatives that the Company is currently undertaking. Patten Energy is a successful, well established diversified energy company with a rich history spanning 24 years. Patten's senior management, headed by its founder Ezekiel Patten, MBA, has led the company to over $6,000,000 in 2013 revenues.
Patten Energy is a diversified energy firm specializing in the marketing of natural gas, propane and petroleum products to utilities, fleets, industrial and commercial markets. In 2005, Patten expanded to include services such as IT, environmental remediation and hazardous waste. Their client list includes businesses of various sizes, as well as segments of the federal, state and local governments.
The Company will be maintaining their Lithium and other mining assets in order to retain their value, and although there is no immediate plans for divesting or investing in the mining assets, they will be exploring strategic alternatives which are the most beneficial to Shareholders.
"This marks one of the first steps in the implementation of the Company's new strategic initiatives. Over the coming weeks and months the Company anticipates making additional progress in implementing these new strategic initiatives and will advise Shareholders regarding any new developments."
"We are very excited about the future of the company and invite all Shareholders and all other interested parties to call or email our Investor Relations team with any questions, comments or concerns."
AMERILiTHIUM is a publicly traded (OTCBB:AMEL) company moving toward becoming a vertically integrated energy service company. AMERILITHIUM is keen on making complementary acquisitions in the same vertical and horizontal business segments.