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 […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet