/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR
FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Jan. 25, 2021 /CNW/ - Alpha Lithium
Corporation (TSXV: ALLI) (OTC: ALLIF) (Frankfurt: 2P62) ("Alpha"
or the "Company"), sole owner of one of the last large,
undeveloped salars in Argentina's
Lithium Triangle, is pleased to announce that it has amended the
agreement with Echelon Wealth Partners Inc. and Leede Jones Gable
Inc. as co-leads and joint bookrunners (the "Underwriters"),
pursuant to which the Underwriters have increased the size of its
previously announced short form prospectus offering of units
of the Company (the "Units") at a price of $0.81 per Unit (the "Issue Price").
Under the amended terms, the Underwriters have agreed to purchase,
on a bought deal basis, 24,700,000 Units for gross proceeds to the
Company of $20,007,000 (the
"Offering"), the remaining terms remain unchanged.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of securities in the United States. The securities have not
been and will not be registered under the U.S. Securities Act or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
The Offering is expected to close on or about February 16, 2021, or such other date as the
Company and the Underwriters may agree, and is subject to customary
closing conditions, including the approval of the securities
regulatory authorities and the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
"Brad Nichol"
Brad Nichol
President, CEO and Director
About Alpha Lithium (TSX.V: ALLI) (OTC: ALLIF) (Frankfurt: 2P62)
Alpha Lithium is a growing team of industry professionals and
experienced stakeholders focused on the development of the Tolillar
Salar. Together, we have assembled 100% ownership of what may be
one of Argentina's last
undeveloped lithium salars, encompassing 27,500 hectares (67,954
acres), neighboring multi-billion-dollar lithium players in the
heart of the renowned "Lithium Triangle". Other companies in
the area exploring for lithium brines or currently in production
include Galaxy Lithium, Livent, and POSCO in Salar del Hombre
Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar
de Centenario; and Gangfeng and Lithium Americas in Salar de
Cauchari.
For more information
visit: https://alphalithium.com/ and follow us
on Twitter or Facebook.
Forward-Looking Statements
This news release contains forward-looking information which is
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ from those
projected in the forward-looking statements. While these statements
reflect management's current plans, projections, and intents, by
their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond the control of
the Company. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on these forward-looking
statements. The Company's actual results, programs, production
decisions (if any) activities and financial position could differ
materially from those expressed in or implied by these
forward-looking statements. The Company assumes no
responsibility to update or revise such information to reflect new
events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Alpha Lithium Corp.