APHLF - Caravel Capital Urges Alpha Lithium Corporation Shareholders Tender to Tecpetrol's Best and Final Offer | Benzinga
Caravel Capital Urges Alpha Lithium Shareholders in an Open Letter.
NASSAU, Bahamas, Sept. 25, 2023 /PRNewswire/ -- Caravel Capital Investments Incorporated, a Bahamian investment firm, this morning published an open letter to all Alpha Lithium Corporation ("ALLI") shareholders outlining the reasons Shareholders should tender Tecpetrol's "Best and Final" offer of C$1.48.
Caravel Capital states they have no agreements or understandings with Tecpetrol. Additionally, Caravel urges the ALLI board of directors to endorse Tecpetrol's revised offer, reminding them of their fiduciary obligation to protect the interests of all shareholders. Recent trading activity has demonstrated that ALLI shareholders stand to incur substantial losses if Tecpetrol's offer expires unsuccessfully.
The full text of the letter is included below and is also available on the company's website at https://www.caravelinvest.com/media.
Open Letter to Alpha Lithium Corporation Shareholders from Caravel Capital Investments Inc.
Dear Fellow Shareholders of Alpha Lithium Corp,
Caravel Capital is an investment fund that, collectively with its principals, owns over 4,500,000 common shares of Alpha Lithium Corp ("ALLI"). We write to you regarding Tecpetrol's current offer to acquire ALLI for