Alpha Lithium Nears Completion of Pilot Plant at Tolillar Salar, Argentina

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company "), a company with two substantial lithium assets in the Salta region of Argentina and over $35 million of cash on hand, is pleased to report that construction of the Company's 120 tonne per annum ("tpa") pilot plant is nearing completion and is expected to commence test production of high-quality lithium carbonate ("Li 2 CO 3 ") in Q2Q3 2023.

The pilot plant has the potential to utilize brine from both the 27,500-hectare Tolillar Salar and the Company's 5,000-hectare asset in nearby Salar del Hombre Muerto.

Construction on the modular pilot plant is more than 50% complete. The on-site module of the plant will initially house the Direct Lithium Extraction ("DLE") section and the second module will house industry standard lithium processing equipment: carbonation, ion exchange, filters and dryers, and will be located in the city of Salta. The second module will continue to operate in Salta until the process and systems have been fully calibrated, after which, the module will be moved onsite to operate at altitude on the salar.

The objective of the pilot plant is to demonstrate that Alpha's promising laboratory DLE results can be repeated and maintained under industrial pilot conditions. The pilot plant will also provide the Company with important data upon which to base the technical and economic assumptions for use in economic analyses. Ausenco Limited ("Ausenco") has been engaged to assess the economic assumptions and viability of Alpha's proposed 50,000 tpa commercial plant (see January 9, 2023 news release ).

The pilot plant has been designed with complete flexibility to assess the effectiveness of variable operating parameters and conditions, such as flow rates, pressures, temperatures, and chemical additives. This flexibility within the plant will allow operators to inform and refine the design of the Company's planned 50,000 tonnes/year ("tpa") lithium carbonate plant.

Brad Nichol, President and CEO of Alpha, commented, "Visitors to Tolillar Salar one year ago would not recognize the salar today. With five drilling rigs operating for the last several months, we now have twenty-four wells drilled on the northern part of property. We have completed 160 VES points and have a comprehensive understanding of the hydrogeological model." Nichol added, "Constructing a pilot plant to test our promising DLE lab results at scale and under salar conditions is now considerably complete."

Of the approximately twenty active lithium projects in Argentina, Tolillar Salar enjoys the unique position as the only salar with a single owner. Alpha is in an extremely rare position with Tolillar Salar, which creates shareholder value in multiple respects.

All operations and assets of the Company are in Argentina and are fully managed by Alpha Lithium Argentina SA ("Alpha SA") utilizing local employees and consultants. Neither Alpha, nor Alpha SA, have any operations or assets in Canada.

Since initiating the first steps of an exploration program in 2020, Alpha SA has drilled more than 20 wellbores in Tolillar Salar, constructed an in-house brine chemistry research laboratory, developed a proprietary Lithium Carbonate production process, started construction of a pilot plant, and employed dozens of highly skilled Argentinian technologists, engineers, geologists, geophysicists and chemists, in addition to several students, accounting, managerial and HR professionals. The Company is grateful for, and reliant upon, the significantly large Argentinian team that has proven instrumental at generating value for shareholders.

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

About Alpha Lithium (NEO: 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 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 Orocobre Limited, 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.

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

News Provided by GlobeNewswire via QuoteMedia

Alpha Lithium NEO: ALLI Battery Metals Investing

ALLI:AQL

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 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 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

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

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

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. (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

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

Gold Investing

	B	Ca	Fe	K	Li	Mg	Mn	Na	Hrs after start of pumping
	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	Hrs after start of pumping
Sample 1	604	924		7,026	778	1,862	7.25	98,993	6
Sample 2	591	910		6,975	776	1,885	7.35	98,692	7
Sample 3	597	912	6.6	6,984	783	1,912	7.50	98,942	8
Sample 4	570	914		7,042	783	1,911	7.42	99,761	9
Sample 5	595	910		6,999	787	1,897	7.29	100,014	10
Average:	593.5	914.5		7,020	784	1,895	7.36	99,594	n/a

	B	Ca	Fe	K	Li	Mg	Mn	Na	Hrs after start of pumping
	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	mg/L	Hrs after start of pumping
Sample 1	545	897	10.8	9,011	838	2,024	5.31	107,647	2
Sample 2	522	875	11.2	8,722	821	2,089	5.24	105,878	3
Sample 3	518	862	11.4	8,895	836	2,102	5.23	106,398	4
Sample 4	516	854	11.5	8,785	828	2,085	5.17	108,794	5
Sample 5	514	844	11.4	8,964	852	2,123	5.16	107,435	6
Sample 6*	519	858	11.4	8,827	831	2,109	5.24	103,873	5*
Sample 7	521	865	11.5	8,957	843	2,111	5.2	105,506	7
Average:	522	865	11	8,880	836	2,092	5.2	106,504	n/a

Loop	Conductor	Drillhole	Conductivity-thickness (s)	Dimensions (Strike x Dip)	Dip/Dip-direction	Depth to top (mRL)
Loop 1	NA	PAL0352	-	-	-	-
Loop 2	NA	PAL0072, PAL0362	-	-	-	-
Loop 3	South Palokas Deep "A"	PAL0367	100	130m x 200m	48/333	-340m
Loop 3	South Palokas Deep "B"	PAL0367	110	120m x 110m	17/314	-370m
Loop 3	Palokas Deep	PAL0200	160	100m x 135m	34/330	-129m
Loop 4	Hirvimaa	PAL0073	150	150m x 150m	12/103	-50m
Loop 5	Raja Footwall	PAL0171, PAL0355	80	70m x 110m	44/326	-125m

Alpha Lithium Nears Completion of Pilot Plant at Tolillar Salar, Argentina

Latest News

Latest Press Releases

Related News

TOP STOCKS