- Echelon Wealth Partners Inc. has agreed to purchase 21,750,000 units at a price of $1.00 per unit
- Alpha Lithium has granted the underwriter an over-allotment option
- If fully exercised, the aggregate gross proceeds of the offering would total $25,000,000
- Net proceeds will be used for the development of Hombre Muerto Salar, Tolillar Salar and for general working capital purposes
- Alpha Lithium is a Canadian exploration company developing what may be one of Argentina’s last undeveloped lithium salars
- Alpha Lithium Corp. (ALLI) opened trading at C$1.21 per share
Alpha Lithium Corporation (ALLI) has upsized its public offering of units.
The underwriter, Echelon Wealth Partners Inc. has agreed to purchase 21,750,000 units at a price of $1.00 per unit and offer them to the public for total gross proceeds of $21,750,000.
Each unit will consist of one common share and one-half common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of $1.45 for a period of 24 months from the closing of the offering.
Alpha Lithium has granted the underwriter an option to purchase up to an additional 15 per cent of the units. The over-allotment option may be exercised at any time up to 30 days following the closing date. If fully exercised, the aggregate gross proceeds of the offering would total $25,000,000.
Net proceeds will be used for the development of Hombre Muerto Salar, Tolillar Salar and for general working capital purposes.
The offering is expected to close on or about December 1, 2021, and is subject to the approval of the securities regulatory authorities and the TSX Venture Exchange.
Alpha Lithium is a Canadian exploration company focused on the acquisition and development of high-grade lithium brine deposits.
Alpha Lithium Corp. (ALLI) opened trading at C$1.21 per share.