Alpha Lithium closes oversubscribed $23 million bought deal offering

February 19, 2021

On February 19, 2021, Alpha Lithium Corporation (TSX.V: ALLI) (“Alpha”) closed its short form prospectus offering of units (the “Units”), on a bought deal basis, for gross proceeds of $23,008,050 (the “Offering”).  The Offering was conducted by Echelon Wealth Partners Inc. and Leede Jones Gable Inc. (the “Underwriters”).

Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”), each Warrant being exercisable for a period of 24 months from the date of closing at an exercise price of $1.10.  A total of 28,405,000 Units of the Company at a price per Unit of $0.81 were issued under the Offering, inclusive of the exercise of the over-allotment option in its entirety.

Alpha is developing a large salar in Argentina’s Lithium Triangle.

Miller Thomson advised Alpha with a team comprising of Brian Fast, Elizabeth Holden, and Sarah Baddeley (Capital Markets & Securities).