VANCOUVER, BC, Dec. 19,
2023 /CNW/ - Alpha Lithium Corporation (NEO: ALLI)
(OTC: APHLF) (German WKN: A3CUW1) ("Alpha") announced today
that Tecpetrol Investments S.L. ("Tecpetrol") has completed
the privatization of Alpha. Alpha is now a wholly-owned indirect
subsidiary of Tecpetrol.
The privatization was completed pursuant to the amalgamation
(the "Amalgamation") of Alpha and 1446978 B.C. Ltd., a direct wholly-owned
subsidiary of TechEnergy Lithium Canada Inc. (the
"Purchaser") and an indirect wholly-owned subsidiary of
Tecpetrol, under the provisions of the Business Corporations
Act (British Columbia).
The Amalgamation constitutes the subsequent acquisition transaction
contemplated by the offer of the Purchaser to acquire all of the
issued and outstanding common shares of Alpha for an offer price of
C$1.48 in cash per share that expired
on October 31, 2023.
It is expected that the Alpha shares will be delisted from the
NEO Exchange (operating as Cboe Canada) at the close of business on
December 20, 2023 and Alpha will file
an application to cease to be a reporting issuer under applicable
securities laws.
Additional information concerning the Amalgamation, including
instructions for former shareholders to receive the consideration
of C$1.48 in cash per share (less
applicable withholdings) under the Amalgamation, is set forth in
the notice of special meeting and information circular of Alpha
dated November 13, 2023 available
under Alpha's issuer profile on SEDAR+ at www.sedarplus.ca.
About the Tecpetrol Energy
Transition Unit
Tecpetrol's Energy Transition Unit is Techint Group's dedicated
business unit responsible for advancing its position in the global
energy transition through investments in decarbonized energy
sources, carriers and technologies, with the objective of
contributing to a significant reduction in the carbon footprint. As
part of this initiative through its subsidiary Techenergy Lithium
S.A., Tecpetrol has built a lithium processing pilot plant in
northern Argentina engineered for
scale, which supports a production flowsheet involving direct
lithium extraction. For additional information on Tecpetrol, please
visit its website at https://www.tecpetrol.com/en.
The Techint Group is a global conglomerate with diversified
business lines in steelmaking, complex infrastructure construction,
design and construction of industrial plans and machinery,
technologies for the metals and mining industries, oil and gas
exploration and production and research-oriented health facilities.
Through our six main companies – Tenaris S.A. (NYSE and
Mexico: TS and EXM Italy: TEN),
Ternium S.A. (NYSE: TX), Techint Engineering & Construction,
Tenova, Tecpetrol and Humanitas – the Techint Group operates on six
continents, employs 79,300 employees and generates over
US$33 billion in annual revenue. We
have an extensive track record of completing large transactions in
industrial and extractive sectors around the globe, including in
Canada, and in navigating complex
regulatory frameworks. For additional information on the Techint
Group, please visit its website at
https://www.techintgroup.com/en.
SOURCE Alpha Lithium Corporation
