Mr. Brad Nichol reports
ALPHA LITHIUM PROVIDES NON-BROKERED PRIVATE PLACEMENT UPDATE
Alpha Lithium Corp. has completed a first tranche of the non-brokered private placement originally announced on June 23, 2020. The company issued 8,751,846 units at a price of 37 cents per unit for gross proceeds of $3,238,183.02. Each unit comprises one common share of the company and one share purchase warrant. Each warrant entitles the holder thereof to acquire one share at a price of 50 cents for a period of three years following closing of the private placement. No broker of finders fees have been paid in connection with the private placement.
The net proceeds received from the private placement will be used for development of the company's Tolillar lithium project in Salta, Argentina, and for general working capital purposes. All securities issued under the private placement will be subject to a four-month hold period from the date of issue in accordance with applicable securities laws. The remainder of the private placement is subject to final acceptance of the TSX Venture Exchange.
About Alpha Lithium Corp.
Alpha Lithium is a growing team of industry professionals and experienced stakeholders who bring a big picture derisked and proven approach to global lithium mining.
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