Alpha Lithium Corp., a TSX Venture Exchange listed company, has recently filed a notice of change to the Directors’ Circular recommending its shareholders accept an increased bid from TECPETROL, a subsidiary of Techint Group. The TSX Venture Exchange is Canada’s public venture capital marketplace for emerging companies.
The original offer of C$0.20 per share has been increased to C$0.22 per share. The notice of change was filed following the receipt of shareholder approval by written resolution and in accordance with the rules of the TSXV. Furthermore, Alpha Lithium has also agreed to an acceleration of the closing date from the original date of November 21, 2018 to November 9, 2018.
Alpha Lithium owns 100% of the Salar del Hombre Muerto over a total area of 1358.5 km2 in Argentina. This lithium district has 7 near surface brine exploration targets prepared for drilling and sampling. This move towards acquisition of the company should provide new investors with the opportunity to explore and develop the Salar del Hombre Muerto which is the second largest lithium-brine resource in Argentina.
The Directors’ Circular recommends that the shareholders act in favor of the bid as it provides a fair and reasonable return. The acceptance of the bid is in the best interests of the company as it is the highest offer that the shareholders have received. Furthermore, this move towards the acquisition of Alpha Lithium provides new investors the opportunity to develop and explore the Salar del Hombre Muerto.
Alpha Lithium is a leading resource exploration and development company focused on its core North American and Latin American assets. The company has positioned itself to capitalize on the ever-growing demand for lithium and has a portfolio of quality assets which include the Salar del Hombre Muerto in Argentina.
The Directors’ Circular recommends that its shareholders vote in favor of the offer, which will allow Alpha Lithium to access two things: a greater workforce, greater technical expertise, and the capital to explore its assets. The increased bid by TECPETROL, a subsidiary of the well-established Techint Group, is the highest offer Alpha Lithium has received and is considered reasonable by the Directors.
Shareholders of Alpha Lithium will undoubtedly benefit from the new offer and the imminent acquisition. The notice of change was filed following the receipt of shareholders approval and in accordance with the rules of the TSXV. This move further secures Alpha Lithium’s place in the TSXV and provides new investors the opportunity to develop and explore the Salar del Hombre Muerto.
