- 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.
On
It is a non-waivable condition of the Offer that there be validly deposited under the Offer more than 50% of the outstanding Alpha shares, excluding Alpha shares owned by Tecpetrol and its joint actors. If this legally required minimum tender condition is not satisfied by the expiry time of 5:00 p.m. (
Alpha shareholders who do not tender to the Offer will not receive the cash consideration of
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1 Lithium developer peers include Argosy Minerals, Galan Lithium, |
Q: How do I tender my Alpha shares?
A: Shareholders whose shares are registered in the name of an investment advisor, stock broker, bank, trust company or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer so that the necessary steps can be taken to enable the deposit of such shares under the Offer. Intermediaries likely have established tendering cut-off times that are prior to the expiry time. Shareholders must instruct their intermediaries promptly if they wish to tender.
Registered shareholders who own
Q: Who can I call if I have questions or require assistance in tendering my shares?
A: Shareholders who have questions or require assistance in tendering their Alpha shares may contact
Q: What is the deadline for me to instruct my broker to tender my Alpha shares?
A: The Offer is open for acceptance until 5:00 p.m. (Vancouver time) on October 20, 2023. Shareholders whose shares are registered in the name of an investment advisor, stock broker, bank, trust company or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer so that the necessary steps can be taken to enable the deposit of such shares under the Offer. Intermediaries likely have established tendering cut-off times that are prior to the expiry time. Shareholders must instruct their intermediaries promptly if they wish to tender.
Tecpetrol has filed a Second Notice of Extension in respect of the recent extension of the expiry time to 5:00 p.m. (Vancouver time) on
Tecpetrol's Energy Transition Unit is
This news release contains "forward looking information". Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", "intends" or variations of such words, and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information contained in this press release includes, but is not limited to, statements relating to expectations relating to the Offer; the ability of Tecpetrol to complete the transactions contemplated by the Offer; the results, effects, mechanics, timing and completion of the Offer; the satisfaction or waiver of the conditions to consummate the Offer (including the statutory minimum condition); the likelihood that the price of the Alpha shares will decline back to pre-Offer levels if the Offer is not successful; and intentions to not further extend the expiry time of the Offer.
Although Tecpetrol believes that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties and have been based on information and assumptions that may prove to be inaccurate, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking information and such factors and assumptions are based on information currently available to Tecpetrol, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, performance or achievements of Tecpetrol or the completion of the Offer to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information include, without limitation: that the conditions of the Offer may not be satisfied or waived by Tecpetrol at the expiry of the Offer period; the ability of Tecpetrol to acquire a majority of the outstanding Alpha shares, excluding those shares beneficially owned, or over which control or direction is exercised, by Tecpetrol or any of its joint actors; the decision by Tecpetrol to further extend or not extend the expiry time of the Offer; and the pendency or completion of the Offer or any subsequent transaction. Forward-looking information in this news release is based on the beliefs and opinions of Tecpetrol at the time the information is given, and there should be no expectation that this forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Tecpetrol expressly disclaims any obligation to do so except as required by applicable law.
This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities. The Offer has been made solely by, and subject to the terms and conditions set out in, the formal Offer and Circular (as amended), letter of transmittal and notice of guaranteed delivery. The Offer has not be made to, nor will deposits be accepted from or on behalf of, shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
The Offer has been made for the securities of a Canadian company that does not have securities registered under section 12 of the United States Securities Exchange Act of 1934, as amended (the "
The Offer and all contracts resulting from acceptance thereof are and will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. Accordingly, the provisions of the German Takeover Code (Wertpapiererwerbs- und Übernahmegesetz) do not apply to the Offer.
None of the
SOURCE Tecpetrol
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