Alpha Lithium Reports on Q3, Announces Management Changes

Rhea-AI Summary

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) reports the filing of interim consolidated financial statements and management’s discussion and analysis for the three and nine months ended September 30, 2023. The company also announces management transition following Tecpetrol Investments S.L.'s board-recommended offer to acquire all common shares of Alpha for $1.48 in cash per share, with Brad Nichol resigning as President and CEO, and Jorge Dimópulos and Juan José Mata assuming the roles of Interim CEO and Interim CFO, respectively.

VANCOUVER, British Columbia, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) ("Alpha") or the (“Company”) is pleased to report that its interim consolidated financial statements and associated management’s discussion and analysis for the three and nine months ended September 30, 2023 have been filed under the Company’s profile at www.sedarplus.ca.

The Company also advises that, pursuant to the planned transition of management following the expiry of Tecpetrol Investments S.L.'s board-recommended offer to acquire all of the common shares of Alpha for $1.48 in cash per share, Brad Nichol has resigned from his role as President and CEO of the Company. Jorge Dimópulos, Director and Chairman of Alpha will replace Mr. Nichol as Interim CEO. Further, Juan José Mata, Director of the Company, will replace Nathan Steinke as Interim CFO.

Brad Nichol, former Director, President & CEO of Alpha stated, “I am immensely proud of what the Alpha team has accomplished during my tenure as President & CEO. I am grateful to, and thankful for the support of, Alpha’s shareholders throughout this journey.” Going forward, Mr. Nichol may be reached at https://www.linkedin.com/in/brad-nichol-7a986329a/.

The Company thanks Messrs. Nichol and Steinke for their years of dedicated service to the Company, and wishes them the best in their future endeavors.

About Alpha Lithium (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1)

Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars. In Tolillar, 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". In Hombre Muerto, we continue to expand our 5,000+ hectare (12,570 acres) foothold in one of the world's highest quality, longest producing, lithium salars. Other companies in the area exploring for lithium brines or currently in production include Allkem Ltd., Livent Corporation, 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.

Caution Regarding Forward-Looking Statements

This news release contains "forward looking information". Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", "intends" or variations of such words, and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.

Although Alpha believes that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties and have been based on information and assumptions that may prove to be inaccurate, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking information and such factors and assumptions are based on information currently available to Alpha, and actual results may differ materially from those expressed or implied in such statements. Forward-looking information in this news release is based on the beliefs and opinions of Alpha at the time the information is given, and there should be no expectation that this forward- looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Alpha expressly disclaims any obligation to do so except as required by applicable law.

For more information:
Alpha Lithium Investor Relations Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com

FAQ

What financial statements have been filed by Alpha Lithium Corporation?

Alpha Lithium Corporation has filed interim consolidated financial statements and management’s discussion and analysis for the three and nine months ended September 30, 2023.

Who is replacing Brad Nichol as President and CEO of Alpha Lithium Corporation?

Jorge Dimópulos will replace Brad Nichol as the Interim CEO of Alpha Lithium Corporation.

Who is replacing Nathan Steinke as CFO of Alpha Lithium Corporation?

Juan José Mata will replace Nathan Steinke as the Interim CFO of Alpha Lithium Corporation.

What was the offer made to acquire all common shares of Alpha Lithium Corporation?

Tecpetrol Investments S.L. made a board-recommended offer to acquire all common shares of Alpha Lithium Corporation for $1.48 in cash per share.

Where can Brad Nichol be reached after his resignation from Alpha Lithium Corporation?

Brad Nichol may be reached at https://www.linkedin.com/in/brad-nichol-7a986329a/ after his resignation from Alpha Lithium Corporation.