Alpha Lithium Corp. (TSXV: ALLI) (“Alpha Lithium” or the “Company”) announced today that it has filed a notice of change to the Directors’ Circular in connection with the unsolicited offer from Tecpetrol International, S.A. (“Tecpetrol”), dated March 17, 2021 and increased on April 9, 2021 (the “Tecpetrol Offer”), to acquire all of the issued and outstanding common shares of Alpha Lithium (the “Alpha Lithium Shares”).
The Directors’ Circular recommends that Alpha Lithium shareholders reject the Tecpetrol Offer and instead support the Company’s amended and restated business combination agreement (the “Business Combination Agreement”) with Myconic Capital SA (“Myconic”).
Given the increased consideration of CAD $1.55 per Alpha Lithium Share offered by Tecpetrol, the Company has filed a Notice of Change to the Directors’ Circular recommending that Alpha Lithium shareholders accept the Tecpetrol Offer instead of the Myconic Offer. Alpha Lithium shareholders will have the opportunity to vote on this new recommendation.
The Company encourages Alpha Lithium shareholders to accept Tecpetrol’s increased offer, noting that it offers far superior consideration to the Myconic offer. This Notice of Change has been filed in accordance with the requirements of applicable securities laws and does not constitute a recommendation to shareholders as to how they should vote at the special meeting expected to be held in connection with the Myconic Offer.
The Directors’ Circular, as amended, will be available on the Company’s website and on SEDAR (www.sedar.com)ahead of the special meeting. It also remains the case that Alpha Lithium shareholders should read the new Circular in full for any additional information or material changes to the previously recommended reject Myconic offer.
The Company will provide further details in due course, including the date and location of the special meeting and information about alternative offers or other developments regarding the Alpha Lithium Shares. In the meantime, Alpha Lithium shareholders are strongly encouraged to read the new Circular carefully and to vote it as soon as possible.