VANCOUVER, British Columbia, December 10, 2021 — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Frankfurt: 2P62) (“Alpha” or the “Company”), is pleased to announce it has closed the previously announced short form prospectus offering, on a bought deal basis, for gross proceeds of $25,012,500.
The net proceeds of the Offering will be used to fund the pursuit of strategic acquisitions, mineral exploration expenditures and general working capital purposes, all as further set out in the prospectus.
The Offering was conducted by Echelon Capital Markets (the “Underwriter”). A total of 25,012,500 Units of the Company at a price per Unit of $1.00 (the “Offering”) were issued, inclusive of the exercise of the over-allotment option in its entirety. Each Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a “Warrant”), each Warrant being exercisable into one additional common share of the Company for a period of 24 months from the date of closing (the “Closing”) at an exercise price of $1.45. The Underwriter received cash commission of $1,440,750 and Underwriter’s options that allow the Underwriter to purchase up to 1,440,750 Units of the Company, with the same terms as the Units issued in connection with the Offering, at a price of $1.00 for a period of 24 months from Closing.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
About Alpha Lithium (TSX.V: ALLI) (OTC: APHLF) (Frankfurt: 2P62)
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 and 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.
For more information visit: https://alphalithium.com/ and follow us on Twitter or Facebook.
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
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 failure to satisfy the conditions of the relevant securities exchange(s) 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.