Alpha Lithium Secures US$30 million Investment from Uranium One with Right to Invest Additional US$185 million at Tolillar Salar, Argentina

VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Frankfurt: 2P62) (“ Alpha ” or the “ Company ”) is very pleased to announce a significant asset transaction with international, multi-billion-dollar, chemical processing conglomerate, Uranium One Group (“Uranium One”).

Uranium One’s wholly owned subsidiary, Uranium One Holding N.V. (“U1”), has agreed to invest US$30 million in exchange for a 15% ownership stake in Alpha’s 100% owned, 27,500-hectare Tolillar Salar in Argentina (“Tolillar”) and by doing so will earn an option to acquire another 35% of Tolillar for US$185 million (the “Option” or the “Earn-in Right”). If the Option is exercised, Alpha would retain a 50% interest in Tolillar, which would be fully funded up to the point of commercial production.

The transaction is limited only to Tolillar and when closed, is expected to leave Alpha with approximately $45 million of cash, free to focus […]

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