TECPETROL ANNOUNCES INTENTION TO MAKE ALL-CASH TAKE-OVER BID DIRECTLY TO SHAREHOLDERS OF ALPHA LITHIUM CORPORATION
Tecpetrol intends to make the Offer directly to Alpha shareholders so that they can determine the outcome of their investment.
- Tecpetrol intends to make the Offer directly to Alpha shareholders so that they can determine the outcome of their investment.
- Tecpetrol believes the significant benefits of the Offer include, among others:
Attractive Cash Payment and Immediate Liquidity to Shareholders Through De-Risked Transaction. - Tecpetrol is contemplating an acquisition of Shares directly from Alpha shareholders, which Tecpetrol expects will be more tax-efficient for shareholders than a distribution following an asset sale.
- Accordingly, in light of Alpha's repeated refusal to engage constructively in discussions with Tecpetrol to increase the Offer Price, Tecpetrol intends to proceed directly with the Offer to Alpha shareholders.