Alpha Lithium Comments on Shareholder Support

Alpha Lithium Comments on Shareholder Support

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) ("Alpha" or the "Company") today commented on shareholder feedback received in connection with the hostile offer (the "Hostile Offer") for the common shares of Alpha ("Common Shares") announced June 8, 2023, including the open letter published on June 26, 2023 by Alpha's major shareholder Kyle Stevenson. The Board unanimously determined that the Hostile Offer is not in the best interests of the Company or its current shareholders.

Brad Nichol, President and CEO of the Company commented: "As a public company, shareholder feedback is tremendously helpful to Alpha's Board and management in ensuring our vision for the Company aligns with the owners of the Company: the shareholders. I'm very appreciative that Mr. Stevenson made his perspective known, and that perspective is generally consistent with the feedback I've received directly from many of our other shareholders." Mr. Nichol continued: "For months we have been, and will continue to, assess all available transactions on the basis of the benefit they provide to shareholders, with particular regard to the unique and compelling characteristic of each of our assets."

The full text of Mr. Stevenson's open letter is set out below for reference. The Company notes that the letter was issued by Mr. Stevenson, not Alpha, and although Alpha is not aware of any misstatement therein, Alpha has not independently verified and assumes no responsibility for the accuracy or completeness of the information contained therein.

To my fellow shareholders,

My name is Kyle Stevenson. I currently own 9,200,000 common shares of Alpha and securities convertible to acquire 1,300,000 additional shares of Alpha. To the best of my knowledge, I am the single largest shareholder of Alpha Lithium.

I have been heavily involved in the Argentine lithium exploration and development industry since 2016, when I became President, CEO and a director of Millennial Lithium Corp. We developed the Pastos Grandes lithium brine project in Argentina, approximately 70 kilometers northeast of Alpha's Tolillar project. We sold Millennial to Lithium Americas Corp. in 2022, in a transaction valuing Millennial at approximately C$491,000,000. This experience gave me considerable insight into the exploration and development of Argentine lithium brine assets, and their value in strategic M&A transactions.

In addition to my Millennial experience, I am familiar with Alpha, its assets, and its management team. I have done business with them in the past, and hope to continue working with them in the future.   In 2019 I had the opportunity to travel to Argentina with management and experience, first-hand, the potential of Tolillar. Since then, I have been impressed by management's ability to add shareholder value, and continue to be impressed by the work they've done in developing Alpha's portfolio of assets.

I have carefully watched Tecpetrol's attempt to acquire Alpha from its shareholders. I have reviewed Tecpetrol's bid circular, as well as Alpha's Directors' Circular, and it is clear to me that the Tecpetrol bid is wholly inadequate, and I do not intend to tender any of my shares.

In my opinion, the Tecpetrol bid is an opportunistic attempt to seize both Alpha's Tolillar and Hombre Muerto assets at an indefensible discount to their true value, which I strongly oppose. The bid fails to deliver value to Alpha's shareholders, including myself, for two key reasons: The first is the valuation is embarrassingly low for Tolillar alone, and second, Tecpetrol is trying to get   all   the assets, including Hombre Muerto and over $30 million in cash, for no additional consideration.

1.   Inadequate Value – a stink bid by all measures

Asset Value : The Tecpetrol bid significantly undervalues the Tolillar asset on its own. As the Alpha team wrote in their Directors' Circular, the offer price represents a   substantial discount   to recent lithium brine transactions in Argentina, including the Millennial Lithium sale we completed in 2022. The confusing discount ignores the value added by the unique features of Alpha's Tolillar salar, most notably: Tolillar may be one of the last wholly-owned lithium bearing salars in Argentina, and Tolillar hosts a unique and valuable freshwater reserve.

In addition to the obvious operational advantages that come with exclusive ownership of the entire salar, an independent freshwater recharge study commissioned by Alpha indicated that the freshwater aquifer located within the Tolillar salar mining tenements can sustainably support the large freshwater withdrawals needed for a top tier project (see Alpha's press release of January 23, 2023 for more information).

Market Value : The bid price of $1.24 represents a ~15% discount to Alpha's closing price on Friday, June 23, 2023. When Tecpetrol first announced their intention to bid Alpha's share price was steadily climbing, consistent with prevailing trends in Lithium Carbonate Equivalent prices, making their inadequate offer even less appealing. The trading in Alpha's shares to a high of $1.45 since the announcement of the bid indicates clearly to me that I'm not alone in considering this a ‘take under' rather than a ‘take over', which won't receive the shareholder support it needs.

The unique features of Tolillar make it an incredibly compelling standalone opportunity, and by any measure, worth considerably more than Tecpetrol has offered to pay.

2.   Predatory Structure – Tecpetrol wants everything, at a huge discount

Assuming Tecpetrol has taken adequate time to familiarize itself with Alpha, they know, or ought to know, that Alpha has at least two distinct and compelling assets: (i) the Tolillar project, and (ii) the roughly 5,000-hectare land position in the world-class Hombre Muerto Salar. For those of my fellow shareholders who have not yet had the opportunity, I would encourage you to review Alpha's technical report about its Hombre Muerto asset. It's available under Alpha's profile at www.sedar.com. Even prior to the filing of the Hombre Muerto technical report, it would be clear to anyone who had conducted appropriate due diligence on Alpha that its early stage Hombre Muerto asset represents compelling potential for additional shareholder value. Therein lies the second problem with the Tecpetrol bid: for a low-ball price, Tecpetrol wants the de-risked Tolillar project, the discovery potential of the Hombre Muerto asset, and approximately $30 million of capital.

Tecpetrol declined to participate in the Tolillar sale process when invited by Alpha, instead deciding to make a hostile bid for the entire company. While I expect Tecpetrol hopes to be able to use the hostile bid as a way to get Tolillar at a discount, shareholders need to understand that the proposed structure would also allow Tecpetrol to also take 100% of the future potential of Hombre Muerto, whatever that may be, for essentially nothing.

I put my trust, and capital, behind the team at Alpha to develop Tolillar from a very early stage, and am impressed by the work they have done. I want to bet on this management team again to do the same thing in Hombre Muerto.

I strongly encourage Tecpetrol to engage with Alpha in a constructive manner and offer a fair price for Alpha and/or its Tolillar asset. I further encourage them to include a structure which contemplates a spin out of Hombre Muerto along with the working capital necessary to begin to develop its potential for the benefit of   all   current shareholders of Alpha.

Your fellow shareholder,

[signed]

Kyle Stevenson
kyle@blueprintcapital.ca
604.788.0537

Take No Action

The Board and management of Alpha will not tender to the Tecpetrol bid. For the reasons fully described in our Directors' Circular, Alpha recommends that shareholders REJECT the undervalued and opportunistic Hostile Offer. To reject, shareholders simply need to do nothing. If you have already tendered your Common Shares and wish to withdraw, simply ask your broker or contact Kingsdale Advisors (by phone at 1-800-749-9197 (toll-free in North America) or 647-251-9740 (for collect calls outside North America) or by email at contactus@kingsdaleadvisors.com ) to assist you with this process. For more information, please go to www.ProtectAlphaLithium.com .

Scan Me

Advisors

Credit Suisse Securities (USA) LLC is serving as the Company's financial advisor, Cozen O'Connor LLP is serving as the Company's legal advisor and McMillan LLP is serving as the Special Committee's legal advisor. PI Financial has been appointed independent financial advisor to the Special Committee. Longview Communications & Public Affairs is serving as government and public relations advisor and Kingsdale Advisors is serving as strategic shareholder and communications advisor.

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
www.alphalithium.com

Kingsdale Advisors
1 800 749 9179 (toll free in North America)
+1 647 251 9740 (collect, outside North America)
contactus@kingsdaleadvisors.com
www.ProtectAlphaLithium.com

About Alpha Lithium (NEO: ALLI) (OTC: APHLF) (German 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 acres) 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 Ltd., 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, including statements concerning the Hostile Offer. 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 discussions, if any, between the Company, and third parties, the ability of the Company to successfully complete a transaction involving itself or its assets, or to do so on a timely basis, global economic conditions 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, include 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.

No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

A QR code accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7393de3-c7c0-42de-9a01-4e34ac38f0d6


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

ALLI:AQL
The Conversation (0)
Tecpetrol Bid and Hombre Muerto Drilling Update

Tecpetrol Bid and Hombre Muerto Drilling Update

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") announces that TechEnergy Lithium Canada Inc., a subsidiary of Tecpetrol Investments S.L. (" Tecpetrol "), has advised that it has taken-up and acquired 102,692,615 common shares of Alpha, representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share. Tecpetrol advises that they will pay for the tendered shares within three business days.

Tecpetrol has further advised that all the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00 p.m. (Vancouver time) on October 31, 2023.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

  • Tecpetrol has satisfied the statutory minimum tender condition and has taken-up and acquired 54% of the issued and outstanding Alpha shares

  • Tecpetrol is extending the bid period for an additional 10 days in order to allow remaining minority shareholders to tender to the Offer so that they may promptly receive the offer price and cash-out their investment

  • Shareholders who have not already tendered are urged to do so immediately to ensure they receive the offer price as there can be no assurance that Tecpetrol will be able to timely complete a subsequent acquisition transaction (if at all)

  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email:   assistance@laurelhill.com   o   r visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information

Tecpetrol Investments S.L. (" Tecpetrol "), a member of the Techint Group, announces today that its wholly-owned subsidiary, TechEnergy Lithium Canada Inc., has taken-up and acquired 102,692,615 common shares of Alpha Lithium Corporation (" Alpha "), representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share.  Tecpetrol will pay for the tendered shares within three business days.

All of the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00 p.m. ( Vancouver time) on October 31, 2023 in order to allow the remaining minority shareholders to tender their Alpha shares to the Offer.  No further extensions are contemplated.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

  • Alpha recommends that Alpha shareholders tender their shares in advance of the October 20 th deadline.
  • Alpha's Board and Management have indicated to the Company that they intend to tender to the Revised Tecpetrol Offer.
  • PI Financial Corp. has confirmed that the Revised Tecpetrol Offer is fair to shareholders from a financial point of view.
  • Shareholders that have already tendered do not need to take any further action.
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com or visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information.

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") is issuing a reminder to shareholders to tender their shares in advance of the Revised Tecpetrol Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time.

To the knowledge of the Company after reasonable inquiry, as of October 17, 2023, each of the directors and officers of Alpha have indicated an intention to tender their shares to the Revised Tecpetrol Offer.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

  • The Tecpetrol Offer of C$1.48 in cash per share is the only offer to purchase all of the outstanding Common Shares that is currently open for acceptance by shareholders. No other binding offers have been received by Alpha.
  • The Alpha Special Committee and the Board of Directors have unanimously recommended that Alpha shareholders accept the revised and enhanced Offer from Tecpetrol and tender their shares.
  • PI Financial has confirmed that the increased Offer is fair to shareholders from a financial point of view.
  • Shareholders that have already tendered do not need to take any further action.
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com or visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information.

Tecpetrol Investments S.L. (" Tecpetrol ") today issued a reminder to shareholders of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") to tender their shares in advance of the Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time and are urged to tender their shares immediately.

On September 28, 2023 , the Board of Directors of Alpha, based on the unanimous recommendation of the Special Committee and after receiving a positive independent fairness opinion from PI Financial Corp., publicly announced its unanimous recommendation that shareholders tender their shares to the enhanced Tecpetrol Offer of C$1.48 in cash per share. Since then, a significant number of shares have been tendered to the Offer. As previously disclosed, the Offer represents Tecpetrol's best and final offer to Alpha shareholders. No further extensions are contemplated .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
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

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

  • 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

On 28 September 2023 Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" 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.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  CERENERGY Battery Project Funding Update

Altech Batteries Ltd CERENERGY Battery Project Funding Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

Highlights

- Financing plan and target structure in place

- Funding investment teaser documents and data room established

- Reach out to 10 commercial banks and 2 venture debt funds - all positive interests

- Shortlisting potential lead bank

- Equity Funding - potential sale of minority interest of the project to realise capital and strategic value

- Discussions and draft term sheets shared with investors

- Offtake agreement LOI signed with ZISP

On 14 June 2024, the Company, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.

These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions, See Figure 1*.

DEBT PROCESS

A funding invitation document (investment teaser) has been finalised and distributed to various financial institutions for debt funding in the project. The Group has engaged ten commercial banks and two venture debt funds in a first market round, receiving predominantly positive initial feedback. Several of these institutions have expressed strong interest in participating in the financing. The Group is now in the process of shortlisting potential lenders to identify the most suitable financial partners for the project. To support a thorough due diligence process, a secure data room has been set up, providing detailed project information to interested financiers and ensuring full transparency. The DFS financial model has been adjusted to stress-test various funding scenarios tailored to the lending institutions ABG has engaged with. Further steps involve determining the most suitable banks to form a syndicate and appointing a lead bank to guide the lending process. This syndicate will play a crucial role in structuring the financing arrangement to meet the project's requirements.

EQUITY FUNDING

In addition to ongoing debt financing efforts, the Group has engaged several equity advisers to support the equity component of the project's funding package. As part of this strategy, the Altech Group plans to divest a minority interest in the project to one or two strategic investors. This partial divestment aims to attract investors who can bring not only capital, but also strategic value to the project, aligning with the CERENERGY(R) project's long-term growth and sustainability objectives.

The Group is specifically targeting large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition. These entities are seen as ideal partners due to their strong alignment with the project's focus on sustainable energy solutions, as well as their capacity to provide substantial financial backing.

To date, significant progress has been made in these equity discussions. Several Non-Disclosure Agreements (NDAs) have been signed, allowing for deeper engagement with prospective investors. Altech has also circulated draft term sheets to a number of interested parties, outlining the proposed terms and conditions for investment. These documents serve as a starting point for negotiations, paving the way for more detailed discussions regarding the potential equity stake and partnership structure.

The strategic decision to divest a portion of the project is aimed at reducing the overall financial burden on the Company while bringing in experienced partners who can contribute to the project's success. By securing both the equity and debt components, the Company aims to finalise the full financing package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. The next steps will focus on advancing these discussions and converting interest into formal commitments, which are crucial for moving forward with the project.

OFFTAKE ARRANGEMENTS

On 13 September 24, Altech announced the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligns with the sales price contained within Altech's Definitive Feasibility Study. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process. This lays the foundation for additional offtake arrangements, which are currently in progress. These agreements are vital for advancing our financing and construction timelines for the CERENERGY(R) project.

CEO and MD Mr Iggy Tan stated "The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with expertise and a global network is a major step in our financing efforts. Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY(R) project. We are seeing strong interest, especially from European banks and potential equity partners".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO741A78

To view MD Iggy Tan explain the Funding, please visit:
https://www.abnnewswire.net/lnk/23705649



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
E-Power Resources Inc. Announces Closing of a Third and Final Tranche of Oversubscribed Private Placement

E-Power Resources Inc. Announces Closing of a Third and Final Tranche of Oversubscribed Private Placement

E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") announces that it has closed a third and final tranche of the private placement previously announced on September 24, 2024 (the "Private Placement"). The oversubscribed private placement was originally announced for $420,000, but a total of $526,264 was raised in all three tranches.

An aggregate of 3,150,000 units (the " Units") of the Company were issued in the third and final tranche at a price of $0.05 per Unit for gross proceeds of $157,500, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the "Offering").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Mawson Finland Limited Presents Downhole EM  Geophysics: Multiple Deep Conductors Newly Identified at Rajapalot

Mawson Finland Limited Presents Downhole EM Geophysics: Multiple Deep Conductors Newly Identified at Rajapalot

Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce results from downhole electro-magnetic "DHEM" geophysical surveys conducted at the Rajapalot gold-cobalt project in Finland

Highlights:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - EDDY

Canadian Investment Regulatory Organization Trade Resumption - EDDY

Trading resumes in:

Company: Edison Lithium Corp.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Edison Lithium Arranges Sale of Interest in Argentinian Lithium Properties for US$3.5 Million

Edison Lithium Arranges Sale of Interest in Argentinian Lithium Properties for US$3.5 Million

Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that, effective November 12, 2024, it has accepted a non-binding purchase offer letter from Mava Gasoil LLC ("Mava"), a corporation based in Houston Texas, for the sale of 100% of the interest in the Company's Argentina subsidiary, Resource Ventures S.A. ("ReVe"), in consideration for USD$3,500,000. One of the LEXI claims owned by ReVe and the royalties on that mining property, and the PINAC mining properties owned by ReVe are excluded from the sale and will be retained by Edison.

ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The claims are principally located in the two geologic basins known as the Antofalla Salar and the Pipanaco Salar. ReVe's assets on closing of the disposition to Mava will include 30 mining concessions covering approximately 104,538 hectares area in Catamarca Province, Argentina. The Company will retain and focus its Argentinian efforts on 8 mining concessions covering approximately 35,000 hectares area in Catamarca Province, Argentina, which are not subject to the sale and amount to approximately 25% of the claims currently held by ReVe.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×