On November 29, 2021, Alpha Lithium Corporation (TSX.V:ALLI; OTC:APHLF) (“Alpha Lithium”) announced a US$30 million investment from Uranium One Holding N.V. (“U1”), a wholly owned subsidiary of Uranium One Group (“Uranium One”), an international, multi-billion dollar chemical processing conglomerate. The investment was made in exchange for a 15% ownership stake in Alpha Lithium’s 100% owned, 27,500-hectare Tolillar Salar in Argentina (“Tolillar”).
Upon completion of the investment, U1 will have the option to acquire another 35% of Tolillar for US$185 million (the “Option”). If the Option is exercised, Alpha Lithium would retain a 50% interest in Tolillar, which would be fully funded up to the point of commercial production.
The transaction is limited only to Tolillar and when closed, is expected to leave Alpha Lithium with approximately $45 million of cash, free to focus expansion and developmental efforts on the Company’s nearby assets in the Salar del Hombre Muerto, one of the world’s most significant sources of lithium.
Alpha Lithium is a lithium mining company focused on the development of the Tolillar and Hombre Muerto Salaras located in Argentina.
Miller Thomson advised Alpha Lithium with a team comprised of Brian Fast, Alexander Lalka and Gosia Piasecka (Capital Markets).
