Tecpetrol is reminding shareholders of Alpha Lithium Corporation that they must submit their shares of the company for possible repurchase before the October 20th deadline.
Alpha Lithium Corporation is a Canadian exploration and production company focused on resource extraction with operations in Argentina and Canada. The company has gathered a highly experienced technical team, whose main focus is to explore, develop and commercialize their lithium projects.
Due to recent corporate activity, Tecpetrol is offering a Timed Tender (Tender Offer), allowing Alpha Lithium Corporation’s shareholders to tender their shares before October 20th at 5:00 p.m. Eastern Time in exchange for cash payment of C$2.00 per Share. This tender offer was previously announced on August 2nd.
During the “open period,” beginning October 20th, shareholders will have the opportunity to submit tenders to the currently outstanding Shares of Alpha Lithium Corporation. On that day, any tendered Shares will be redeemed in exchange for cash payment of the C$2.00 per Share.
This tender offer is a direct result of the merger agreement between Alpha Lithium Corporation and Tecpetrol, which was supposed to be followed by a second tranche of payments that were scheduled to deliver in October.
However, after some restructuring, Tecpetrol changed this arrangement and is now asking shareholders to tender their shares in exchange for cash payment of C$2.00 per share. This offer serves to facilitate a quick and efficient transfer of shares from Alpha Lithium Corporation’s shareholders to the company itself, in order for the merger to be completed in a timely manner.
In regards to the tender offer, it is important to keep in mind the important deadlines associated with it. Those wishing to participate in the Timed Tender have until October 20th at 5:00 p.m. Eastern Time to submit their post-dated checks and tender instructions to Alpha Lithium Corporation or its legal advisors.
It’s also important to be aware that the tender offer is not contingent upon financing, and the company is offering a fixed cash payment of C$2.00 per share regardless of the total amount of Shares tendered. Tecpetrol is sure that the Timed Tender will be successful and expects to be able to complete the merger in time.
Tecpetrol reminds Alpha Lithium Corporation’s shareholders to tender their shares before October 20th to obtain a guaranteed cash payment of C$2.00 per Share. Participants are encouraged to contact the company’s legal advisors if they have any questions regarding the tender offer.