Alpha Lithium Corporation, a Canadian venture capital firm that invests in the lithium mining sector, recently released a notice of change to their directors’ circular that recommends shareholders accept TecPetrol’s increased bid to acquire all of Alpha Lithium’s shares.
The original circular detailed a combined cash and stock offer by TecPetrol Corporation, the world’s largest independent oil and gas exploration and exploitation company, for all of Alpha Lithium’s outstanding shares. However, the board of Alpha Lithium has identified key terms of TecPetrol’s original offer that need to be addressed. Following strategic negotiations, TecPetrol came forward with a revised offer that included improved terms meeting the expectations of the stakeholders.
The notice of change states that the Alpha Lithium’s board is now recommending shareholders accept the increased bid by TecPetrol. Alpha Lithium’s board believes that the improved terms of the offer are in the best interests of shareholders, and that the offer offers Alpha Lithium the best and most secure path forward.
TecPetrol has extensive experience in the oil and gas industry, and is well-positioned to help Alpha Lithium unlock its potential. Alpha Lithium’s board is confident that the increased bid by TecPetrol will bring the company the resources it needs for continued growth and success.
Shareholders of Alpha Lithium are encouraged to review the notice of change for additional details, and to consider the amended offer by TecPetrol very carefully as it will largely determine the future of the company.