TX - TECPETROL URGES ALPHA LITHIUM SHAREHOLDERS TO TENDER AS SOON AS POSSIBLE FOLLOWING POSITIVE RECOMMENDATION BY THE ALPHA BOARD OF DIRECTORS AHEAD OF BID DEADLINE OF 3 OCTOBER 2023 | Benzinga
- Alpha Lithium has announced its Board of Directors recommends that shareholders accept Tecpetrol's offer to acquire Alpha Lithium for a price of C$1.48 per share
- Take Prompt Action – Alpha shareholders must tender their shares in advance of the expiry time of 5:00 p.m. on Tuesday, 3 October 2023
- Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com
TORONTO, Sept. 29, 2023 /CNW/ - On 28 September 2023, Alpha Lithium Corporation ("Alpha" or the "Company") announced that its Board of Directors, based upon the unanimous recommendation of the special committee of independent directors and a positive fairness opinion from PI Financial Corp., recommended that Alpha shareholders accept the enhanced offer from Tecpetrol Investments S.L. ("Tecpetrol") to acquire all of the issued and outstanding common shares of Alpha at a price of C$1.48 per share in cash (the "Offer"). Tecpetrol welcomes the Board's decision and urges Alpha shareholders to tender their Alpha shares immediately in order to crystallize a significant premium for their shares. All shares must be submitted in advance of 5:00 p.m. (Vancouver time) on 3 October 2023. We note that shareholders using a broker will have an earlier expiry and encourage shareholder to submit immediately.
It is a non-waivable condition of the Offer that there be validly deposited under the Offer more than 50% of the outstanding Alpha shares, excluding Alpha shares owned by Tecpetrol and its joint actors. If this legally required minimum tender condition is not satisfied by the expiry time of 5:00 p.m. (Vancouver time) on 3 October 2023, no Alpha shares will be acquired by Tecpetrol and Alpha shareholders will not be able to participate in the Offer. Accordingly, Alpha shareholders are urged to promptly tender their shares under the Offer prior to the expiry time, as there can be no assurance that the Offer will be extended if this non-waivable minimum tender condition is not satisfied. Alpha shareholders should be aware that the mandatory 10-day extension of the Offer in the event that Tecpetrol takes up and pays for shares only applies if the minimum tender condition is satisfied – Alpha shareholders should tender today and not wait.
Shareholders who have questions or require assistance in tendering their Alpha shares may contact Laurel Hill Advisory Group, the Depositary and Information Agent for the Offer, by telephone toll-free inside North America at 1-877-452-7184, or outside North America at 1-416-304-0211, or by email at assistance@laurelhill.com.
Shareholders whose shares are registered in the name of an investment advisor, stock broker, bank, trust company or other intermediary ...