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.

Hombre Muerto Drilling Update

Alpha has completed drilling two wells on one of its existing properties in Hombre Muerto. The first well was drilled to 550 meters and the second was drilled to 577 meters. Zelandez Services Argentina SRL ("Zelandez") (www.zelandez.com), the most advanced technology-based service provider in Argentina, has performed highly-detailed and accurate Borehole Magnetic Resonance (BMR) measurements to determine porosity and specific yield in each wellbore.

Both wells encountered multiple brine bearing zones and, as they were both drilled as producing wellbores, are currently being flow-tested.

Samples from each well were collected during initial pumping, serving as composite chemistry for the entire screened interval of the well and are more representative of the chemistry that would be expected from that well during production pumping.

Samples were sent to the Alex Stewart International (ASI) laboratory in Argentina and a summary of the results is presented below.

Well #1, drilled to 550 meters:

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
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

The average lithium concentration in well #1 is 784 mg/L, with an average Mg:Li ratio of 2.42.

Well #2, drilled to 577 meters:

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
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

*Duplicate Pumping Sample

The average lithium concentration in well #2 is 836 mg/L, with an average Mg:Li ratio of 2.50.

Brad Nichol, President and CEO of Alpha stated, "These results confirm what our world-class exploration team expected all along – that Hombre Muerto is one of the world's finest salars."

Qualified Person:

Dr. Mark King, PhD, FGC, PGeo, of Groundwater Insight, Inc., is a qualified person (QP) as defined by NI 43-101. Dr. King has extensive experience in salar environments and has been a QP on many lithium brine projects. Dr. King is independent from the Company and has reviewed and approved the technical information mentioned in this press release.

ON BEHALF OF THE BOARD OF Alpha Lithium CORPORATION

"Brad Nichol"

Brad Nichol
President, CEO and Director

Caution Regarding 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.

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


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

ALLI:AQL
The Conversation (0)
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
TECPETROL ANNOUNCES SIGNIFICANT ALPHA LITHIUM SHAREHOLDER SUPPORT AND EXTENSION TO 20 OCTOBER 2023 OF BOARD-SUPPORTED OFFER

TECPETROL ANNOUNCES SIGNIFICANT ALPHA LITHIUM SHAREHOLDER SUPPORT AND EXTENSION TO 20 OCTOBER 2023 OF BOARD-SUPPORTED OFFER

  • Special Committee and Board of Directors of Alpha recently publicly announced their unanimous recommendation that Alpha shareholders tender to the Offer
  • Since Alpha's announcement, Tecpetrol has received significant shareholder support for its Offer, and has decided to extend the expiry time of the Offer to 5:00 p.m. ( Vancouver time) on 20 October 2023 to provide all remaining shareholders additional time to tender
  • 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

Tecpetrol Investments S.L. (" Tecpetrol "), a member of the Techint Group, announces today that it has extended the expiry time of its board-supported offer (the " Offer ") to acquire all of the issued and outstanding common shares of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") for C$1.48 in cash per share to 5:00 p.m. ( Vancouver time) on 20 October 2023 . Shareholders using a broker may have an earlier cut-off time and are urged to tender their shares immediately. Shareholders who do not tender their shares will not receive the enhanced offer price under the Offer.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
VanadiumCorp Appoints Kristien Davenport as Chief Executive Officer, Announces $440,000 Private Placement Financing

VanadiumCorp Appoints Kristien Davenport as Chief Executive Officer, Announces $440,000 Private Placement Financing

(TheNewswire)

VanadiumCorp Resource Inc.

Vancouver, BC TheNewswire June 5, 2025 VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the "Company") is pleased to announce the appointment of Ms. Kristien Davenport as Chief Executive Officer. Ms. Davenport, who was appointed President in December 2024, succeeds Mr. Gilles Dupuis, who will now focus exclusively on his role as Chief Operating Officer.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
VanadiumCorp Appoints Kristien Davenport as Chief Executive Officer,

VanadiumCorp Appoints Kristien Davenport as Chief Executive Officer,

(TheNewswire)

VanadiumCorp Resource Inc.

Announces $440,000 Private Placement Financing

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Coloured Ties Capital Inc. Announces Private Placement for Gross Proceeds of up to $750,000

Coloured Ties Capital Inc. Announces Private Placement for Gross Proceeds of up to $750,000

Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or the "Company") is pleased to announce a non-brokered private placement of up to 3,750,000 units (each, a "Unit") at a price of $0.20 per Unit for aggregate gross proceeds of up to $750,000 (the "Offering"). Each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) common share purchase warrant (each a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one (1) Common Share at a price of $0.28 per share for a period of 36 months from the date of issuance.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
SAGA Metals Engages Paul McGuigan as its Qualified Person to Oversee Advancement of the Radar Ti-V-Fe Project in Labrador & Provides Corporate Update

SAGA Metals Engages Paul McGuigan as its Qualified Person to Oversee Advancement of the Radar Ti-V-Fe Project in Labrador & Provides Corporate Update

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the appointment of Paul McGuigan, P. Geo., as its Qualified Person on the exploration and development of the Radar Ti-V-Fe Property (the " Project ") in Labrador. Mr. McGuigan will advise on standards of practice for QAQC, structural mapping, drilling and deposit modelling.

Mr. McGuigan, a Professional Geoscientist, has 50 years of international experience in economic geology and mineral exploration management, spanning grassroots exploration to feasibility studies and mining operations. Early in his career, he was employed by IBM, the Geological Survey of Canada, Imperial Oil, Pechiney Ugine Kuhlmann, Esso Minerals Canada and Westmin Resources.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Albemarle Publishes 2024 Sustainability Report, Updates Efforts to Reduce Carbon Footprint, Manage Freshwater Responsibly and Support Customers' Sustainability Goals

Albemarle Publishes 2024 Sustainability Report, Updates Efforts to Reduce Carbon Footprint, Manage Freshwater Responsibly and Support Customers' Sustainability Goals

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2024 Sustainability Report . Entitled Values-Led, Purpose-Driven the report provides an update on Albemarle's achievements in line with the company's sustainability goals.

"As a values-led organization, sustainability is foundational to how we choose to operate," said Albemarle Chairman and CEO Kent Masters . "The initiatives outlined in this report speak to our commitment to creating a more resilient world. We remain dedicated to minimizing our environmental footprint, creating responsible and reliable products for our customers, and engaging with our communities to foster positive outcomes."

Report Highlights

Reducing our carbon footprint

  • Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis.
  • 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year.
  • Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.

Practicing responsible freshwater management

  • Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target.
  • In Chile , we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project.
  • At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.

Supporting our customers' sustainability goals

  • We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China .

Promoting the resilience of our communities

  • A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.

To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com .
The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle  
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

FORWARD-LOOKING STATEMENTS

The 2024 Sustainability Report and our sustainability webpage contain statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will." Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov .

Media Contact:  
Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com

Investor Relations Contact:  
+1 (980) 299-5700, invest@albemarle.com

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-publishes-2024-sustainability-report-updates-efforts-to-reduce-carbon-footprint-manage-freshwater-responsibly-and-support-customers-sustainability-goals-302471310.html

SOURCE Albemarle Corporation

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×