Don’t Miss Your Chance- Tender Your Shares by October 20th with Tecpetrol!

Tecpetrol, a Canadian oil and gas company, has issued a reminder to shareholders of Alpha Lithium Corporation to tender their shares before October 20th, the deadline for the company’s proposed $112 million plan of arrangement. Under the company’s arrangement, Tecpetrol will acquire 100% of Alpha’s issued and outstanding ordinary shares. Alpha shareholders will receive shares of Tecpetrol and/or cash for their Alpha shares, at a rate of $1.80 per share of Alpha Lithium, up to an aggregate cash consideration of $60 million. Tecpetrol is currently aubsidiary of Petroquímica Triamérica S.A. (PTSA), one of the major Argentine holding companies and an important player in the energy industry. Aptecpetrol especializes in the production of oil and natural gas for commercialized distribution on the national market. The Tecpetrol-Alpha Lithium merger is the latest in a recent string of acquisitions and partnerships in the oil and gas industry. According to Marcelo Alvarez, Chief Executive Officer of Tecpetrol, the deal will amplify both the company’s production capacity and its regional footprint in South America, while cementing its aggressive focus on expansion and development. Alvarez added: “We are excited to be completing this arrangement, which we believe will bring substantial advantages for our shareholders and other stakeholders. The transaction will broaden our presence in Argentina and Argentina-Paraguay, providing even better service for Tecpetrol customers. It will also create future business opportunities and increased value for our shareholders.” Alpha shareholders have until October 20th to tender their shares. Any shareholders who fail to submit their shares before the deadline will be ineligible to participate in the arrangement which Tecpetrol is offering.