Alpha Lithium Closes 3,800 Hectare Acquisition in Hombre Muerto, Argentina

Alpha Lithium Closes 3,800 Hectare Acquisition in Hombre Muerto, Argentina

Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company ") is very pleased to announce that it has acquired the right, through its wholly owned Argentine subsidiary, to purchase two mining properties, totaling 3,800 Hectares, situated in the renowned Salar del Hombre Muerto, Argentina.

Subsequent to two previous acquisitions in the same salar (see news releases June 15, 2021 and August 24, 2021 ), Alpha now controls a 100% interest in 5,072 hectares in the Salar del Hombre Muerto and is the second largest landholder (second only to Posco) on the Salta side of the famous salar.

All of Alpha's 5,072 hectares are immediately bordered by Korean giant, Posco, which announced last week that it was investing US$4 billion in Hombre Muerto, up from its originally planned investment of US$830 million. This, after a drilling campaign increased its estimated lithium carbonate equivalent to 13.5 million tonnes – a sixfold increase over what was originally estimated when it acquired the property in 2018.

Brad Nichol, President and CEO of Alpha, commented, "The closing of this acquisition places Alpha amongst lithium giants and establishes the Company as a noteworthy participant in the world's highest quality lithium brine salar. As is the case for our operations in nearby Tolillar Salar, our focus is purely on achieving production as quickly as possible. To that end, we expect to commence drilling in Hombre Muerto very shortly." Nichol added, "The unique brine chemistry found in the Salar del Hombre Muerto makes it ideal for production of very high quality, battery grade lithium products. Livent Corporation has demonstrated this for over two decades, as they have produced lithium concentrates and lithium products from Hombre Muerto since 1998."

Hombre Muerto in Argentina, together with salars in neighboring Bolivia and Chile, is at the center of the so-called "Lithium triangle," which is claimed to host the world's largest lithium brine reserves.

Argentina Prime Holdings Inc. (" APH ") has agreed to assign the right to acquire properties to Alpha Minerals S.A., a wholly owned Argentine subsidiary of Alpha (" Alpha Minerals "), in consideration for the issuance of 2,500,000 common shares of Alpha to APH, subject to Alpha receiving all applicable regulatory approvals, including the approval of the TSX Venture Exchange and confirmation of registration of title to the properties under Alpha Minerals from the Argentine mining registry. Alpha Minerals has also agreed to assume the obligation of Alpha to pay up to US$225,000 to the seller pursuant to the sale agreement. The first US$25,000 payment will be due upon approval of the Environmental Impact Report in connection with the Company's proposed exploration of the new property, and US$200,000 is payable six months thereafter. APH may elect to receive up to 50% of the Second Payment in common shares of the Company, issued at then-current market pricing.

ON BEHALF OF THE BOARD OF Alpha Lithium CORPORATION

"Brad Nichol"

Brad Nichol
President, CEO and Director

For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com

About Alpha Lithium (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1)

Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars. In Tolillar, we have assembled 100% ownership of what may be one of Argentina's last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned "Lithium Triangle". In Hombre Muerto, we continue to expand our 5,000+ hectare (12,570 acre) foothold in one of the world's highest quality, longest producing, lithium salars. Other companies in the area exploring for lithium brines or currently in production include Allkem Limited (the combination of Orocobre Limited and Galaxy Lithium), Livent Corporation, and Posco in Salar del Hombre Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario; and Gangfeng and Lithium Americas in Salar de Cauchari.

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further brine process testing and exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

ALLI:CA
The Conversation (0)
InvestmentPitch Media Video Discusses Alpha Lithium's Securing of US$30 Million Investment from Uranium One with Right to Invest Additional US$185 Million at Tolillar Salar, Argentina - Video Available on Investmentpitch.com

InvestmentPitch Media Video Discusses Alpha Lithium's Securing of US$30 Million Investment from Uranium One with Right to Invest Additional US$185 Million at Tolillar Salar, Argentina - Video Available on Investmentpitch.com

Alpha Lithium Corporation (TSXV: ALLI) (OTC Pink: APHLF) has secured a US$30 million investment from Uranium One Group.

Uranium One Group, (www.uranium1.com) one of an international group of companies, all wholly owned subsidiaries of the Russian State Atomic Energy Corporation, better known as Rosatom, manages one of the world's largest uranium mining holdings with a diversified portfolio of assets.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Alpha Lithium" in the search box.

It is developing projects in Kazakhstan, Tanzania, Namibia and in South America. Rosatom recently assembled a team of lithium industry experts within Uranium One to focus on constructing one of the world's largest lithium portfolios and to become a very significant provider of battery grade lithium to key international manufacturers.

Alpha Lithium has formed a wholly owned subsidiary, Alpha One Lithium B.V., which will be the sole owner of Alpha Lithium's Tolillar lithium deposit in Argentina. The 27,500-hectare deposit is located in the Argentine province of Salta, neighboring multi-billion-dollar lithium players in the heart of the renowned "Lithium Triangle", a region rich with hydromineral raw materials with a high concentration of lithium.

Uranium One's wholly owned subsidiary Uranium One Holding N.V. has agreed to invest US$30 million in exchange for a 15% ownership of Alpha One Lithium, with Alpha Lithium holding the balance of 85% and retaining full control of Tolillar, management, and the board and will be responsible for deploying the invested capital. The transaction is limited only to Tolillar and when closed, is expected to leave Alpha Lithium with approximately $45 million in cash, free to focus expansion and development efforts on its nearby Salar del Hombre Muerto, where the company continues to expand its 5,000+ hectare foothold in one of the world's highest quality and longest producing lithium salars.

Following the completion of a bankable Feasibility Study on the project, Uranium One Holding N.V. will have the option to invest an additional US$185 million to acquire another 35% of Tolillar, thereby increasing its ownership to 50%. Should Uranium One exercise its Earn-in Right, the US$185 million will be directed toward the construction of an initial 10,000 tonne per annum LCE commercial production facility. This initial production facility is intended to be the first module of several, allowing production to be expanded if and when it is desired.

If Uranium One were to issue a large capital call associated with a plant expansion in which Alpha Lithium may choose not to participate in, Alpha has an option to sell its equity stake in Alpha One, receiving fair market value plus a premium of 25% for its position as well as having a right of first offer to solicit higher offers.

Brad Nichol, Alpha's President and CEO, stated: "This early-stage asset has attained a truly game-changing breakthrough for our shareholders. This sort of milestone is rarely achieved by a company with less than two years of operations and with a valuation at this level. Exercising the Earn-in Right implies a value at Tolillar of US$529 million, not including any Additional Consideration. Including the maximum Additional Consideration, the implied project value would be US$604 million, which is over CDN$750 million for the Tolillar asset alone. Uranium One has the ability to earn a 50% interest in Tolillar and Alpha will retain a 50% working interest in a salar that is funded up to the point of commercial production. Having gotten to know Mr. Shutov and his team over the past few months, I am truly pleased to be partnering with Uranium One, an internationally recognized, large-scale project developer. I have no doubt they will match our hunger for fast and full development of the Tolillar Salar, in addition to offering large project execution experience and significant downstream contacts in Europe."

Andrey Shutov, President of Uranium One, added: "In alignment with our stated strategy of securing non-uranium mineral resources, Uranium One is very excited to work with the famous Alpha Lithium team to advance the Tolillar Project, located within the renowned Lithium Triangle, the world's most prolific lithium region. This partnership agreement represents a scaled approach to expanding Uranium One's lithium production, while allowing Uranium One and Alpha Lithium to collaborate on the development of Tolillar and implement efficient extraction technologies."

For more information, please visit the company's website at www.AlphaLithium.com. Investor Relations is handled by Rob Guzman of Xander Capital Partners, who can be reached at 844-592-5337 or by email at relations@alphalithium.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106273

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
alpha lithium corp stock price

Alpha Lithium Corp. Announces Upsize to "Bought Deal" Public Offering to $21,750,000

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

Alpha Lithium Corporation (TSXV: ALLI) (OTC: APHLF) ( Frankfurt : 2P62) (" Alpha " or the " Company ") is pleased to announce that it has amended the terms of its previously announced offering of Units (as defined below). Under the amended terms of the Offering (as defined below), the underwriter, Echelon Wealth Partners Inc. (the " Underwriter ") has agreed to purchase 21,750,000 units (the " Units " ) from the treasury of the Company, at a price of $1.00 per Unit (the " Issue Price ") and offer them to the public by way of short form prospectus for total gross proceeds of $21,750 ,000 (the " Offering "). Each Unit will consist of one common share of the Company (each a " Common Share ") and one-half common share purchase warrant (each full warrant, a " Warrant " and collectively the " Warrants "). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $1.45 for a period of 24 months from the closing date of the Offering.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
alpha lithium corp merger

Alpha Lithium Corp. Announces $13 Million "Bought Deal" Public Offering

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

Alpha Lithium Corporation (TSXV: ALLI) (OTC: APHLF) ( Frankfurt : 2P62) (" Alpha " or the " Company ") is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. (the " Underwriter ") pursuant to which the Underwriter has agreed to purchase 13,000,000 units (the " Units" ) from the treasury of the Company, at a price of $1.00 per Unit (the " Issue Price ") and offer them to the public by way of a short form prospectus for total gross proceeds of approximately $13,000 ,000 (the " Offering ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
alpha lithium

Alpha Lithium Increases "Bought Deal" Public Offering to $20,000,000

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

Alpha Lithium Corporation (TSXV: ALLI) (OTC: ALLIF) ( Frankfurt : 2P62) (" Alpha " or the " Company "), sole owner of one of the last large, undeveloped salars in Argentina's Lithium Triangle, is pleased to announce that it has amended the agreement with Echelon Wealth Partners Inc. and Leede Jones Gable Inc. as co-leads and joint bookrunners (the " Underwriter s"), pursuant to which the Underwriters have increased the size of its previously announced short form prospectus offering of  units of the Company (the " Units ") at a price of $0.81 per Unit (the " Issue Price ").  Under the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, 24,700,000 Units for gross proceeds to the Company of $20,007,000 (the " Offering "), the remaining terms remain unchanged.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TSXV:ALLI

Alpha Lithium Announces $10 Million "Bought Deal" Public Offering

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

Alpha Lithium Corporation (TSXV: ALLI) (OTC: ALLIF) ( Frankfurt : 2P62) (" Alpha " or the " Company "), sole owner of one of the last large, undeveloped salars in Argentina's Lithium Triangle, is pleased to announce that it entered an agreement with a syndicate of underwriters co-led by Echelon Wealth Partners Inc. and Leede Jones Gable Inc. (the " Underwriters ") pursuant to which the Underwriters have agreed to purchase 12,400,000 units (the " Units ") from the treasury of the Company, at a price of $0.81 per Unit (the " Issue Price ") and offer them to the public by way of short form prospectus for total gross proceeds of approximately $10,044,000 (the " Offering ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
White Cliff Minerals

Digitisation of Historical Datasets Reveal Multiple High- Grade Uranium & Copper Targets at Radium Point

White Cliff Minerals Limited (White Cliff or the Company) is pleased to announce early results from the digitisation and GIS integration of historic, but high quality analogue datasets for the northern half of the Radium Point Project (“the North”). The North, as the name implies, refers to the northern half of the approximately 2,9002 km Uranium (U), Gold (Au), Silver (Ag), Copper (Cu) licence area held by the Company. Results have exceeded expectations and highlight multiple large & high-grade U-Cu-Au & Ag targets, all of which will be assessed during the upcoming 2024 field work.

Keep reading...Show less
Premier1 Lithium

Montague Field Program Identifies Abundant New Pegmatite Outcrops

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce the commencement of fieldwork at the Montague lithium project. Premier1 has the rights to earn up to 80% of the lithium rights on the project in a farm-in announced on 5 May 2023 with Gateway Mining (ASX:GML).

Keep reading...Show less
Further Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa

Further Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa

69m at 1.25% Li2O from 45m returned at Dog-Leg target, outside of current MRE1

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further broad and high-grade assay results from resource drilling completed at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.

Keep reading...Show less
Lancaster Resources (CSE:LCR)

Lancaster Resources Announces Shareholder Meeting Results

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) ("Lancaster" or the "Company") is pleased to announce the results of its annual general and special meeting held on March 15, 2024 (the "Meeting"). At the Meeting, the shareholders of the Company (the "Shareholders") approved the plan of arrangement previously announced on January 30, 2024, pursuant to which the Company will spin off the majority of its ownership in Nelson Lake Copper Corp. by issuing a stock dividend of Nelson Lake common shares to Lancaster shareholders.

30,037,612 votes, or approximately 99.999% of the votes cast at the Meeting, were cast in favour of the special resolution approving the Arrangement. The special resolution approving the Arrangement was required to be passed by at least two-thirds (66 2/3%) of the votes cast by Shareholders. Details of the voting results will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Keep reading...Show less
Jindalee Lithium CEO Ian Rodger

Jindalee Lithium Eyes Mid-year PFS Completion, CEO Says

Lithium exploration and development company Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) expects to complete its prefeasibility study on the McDermitt lithium project in Oregon by the middle of 2024, according to CEO Ian Rodger.

“We’ve completed a lot of the metallurgical testwork, we’re at the back end of that, as well as the engineering and cost estimates (and) the mine planning work. Ultimately we've got a very big resource,” he said.

Rodger said the PFS will focus on the first five to 10 years of the mine life to maximise margin and economic returns.

Keep reading...Show less

Latest Press Releases

Related News

×