The shareholders of Alpha Lithium Corporation have approved the privatisation of Alpha pursuant to the amalgamation of Alpha and 1446978 BC, a direct wholly-owned subsidiary of TechEnergy Lithium Canada and an indirect wholly-owned subsidiary of Tecpetrol Investments.
The amalgamated company will be known as Alpha Lithium Corporation (Amalco). Upon the completion of the amalgamation, Amalco will be a wholly-owned subsidiary of Tecpetrol.
On the terms and subject to the conditions of the acquisition agreement dated November 1, upon the completion of the amalgamation, each Alpha shareholder will receive one redeemable preferred share of Amalco in exchange for each Alpha share.