Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
From the PR:
“With the beginning of the planting for Estrella’s new 2024 harvest, Estrella River Farms has now reached full autonomy and control over its destiny. Every aspect of the operation is under our complete supervision and control, from planting to harvesting and selling. By reducing the dependency on affiliated companies and distribution partners, we now have total control over the entire process and, most importantly, will be able to improve our financial performance.
Until the Gov gets busy it will go nowhere. Billy is just riding the cash cow.
So, I own several million shares (10+). I too would like information, but I realize the precarious situation the growers are in. The administration, congress, and the senate all know the People of this Country would like them to do their jobs and move forward as was promised, but they are too busy playing the "what's better for me, me, me game to really give a damn about us (and I don't care which party it is they are all the same). Until Washington feels it is good for their pocketbook nothing is going to change. I still hold out hope that Bill is indeed looking out for the little guy and politics is the problem. It's looking more bleak as we go along. I am a hold for the time being, waiting, as is EVERYONE Else.
You do realize that, until the SAFE banking bill is passed there's no safer way to legally dispose of income than to reinvest. So many things can open up if the Government would just get off their A__. They need to get out of big pharma's pocket and get this thing done. I look at the reinvestment as a positive step that makes this stock incredibly valuable. In time, it will be good to own a few shares, or more.
Just my gut, no scientific evidence. Take it for what it's worth and make up your own mind.
I see it as a matter of when, not if. When JoJo gets off his arse. When some form of legalization happens, which, I believe, will. And WHEN growers stop being afraid to tout their horn without repercussions. Just my 2cents.
Hey, I bought some today. The powder only goes so far. I would buy more if I had more. I need the Government to get off their A-- and get this done.
Cannabis Stock Movers For August 3, 2023
BY Benzinga
— 5:30 PM ET 08/03/2023
GAINERS:
Choom Holdings (OTC:CHOOF) shares closed up 24900.00% at $0.00025
Chalice Brands (OTC:CHALF) shares closed up 9900.00% at $0.0001
Hemp (OTC:HEMP) shares closed up 100.00% at $0.0002
1606 (OTC:CBDW) shares closed up 34.09% at $0.03
GrowLife (OTC:PHOT) shares closed up 29.03% at $0.00
Gaby (OTC:GABLF) shares closed up 21.43% at $0.00
CBD Of Denver (OTC:CBDD) shares closed up 14.29% at $0.0004
Unrivaled Brands (OTC:UNRV) shares closed up 14.29% at $0.02
Nextleaf Solutions (OTC:OILFF) shares closed up 13.75% at $0.05
Item 9 Labs (OTC:INLB) shares closed up 12.82% at $0.02
1933 Industries (OTC:TGIFF) shares closed up 12.50% at $0.01
Entourage Health (OTC:ETRGF) shares closed up 11.23% at $0.02
Kaya Holdings (OTC:KAYS) shares closed up 10.56% at $0.06
Goodness Growth Holdings (OTC:GDNSF) shares closed up 7.89% at $0.14
Body and Mind (OTC:BMMJ) shares closed up 7.14% at $0.07
Leef Brands (OTC:LEEEF) shares closed up 6.92% at $0.02
BioHarvest Sciences (OTC:CNVCF) shares closed up 6.44% at $0.14
Trees (OTC:CANN) shares closed up 6.11% at $0.07
Tetra Bio Pharma (OTC:TBPMF) shares closed up 5.88% at $0.00
iAnthus Capital Hldgs (OTC:ITHUF) shares closed up 5.81% at $0.02
Columbia Care (OTC:CCHWF) shares closed up 5.69% at $0.44
GreenGro Technologies (OTC:GRNH) shares closed up 5.26% at $0.00
Canopy Gwth NASDAQ:CGC shares closed up 4.79% at $0.46
Khiron Life Sciences (OTC:KHRNF) shares closed up 4.23% at $0.01
StateHouse Hldgs (OTC:STHZF) shares closed up 4.09% at $0.03
SLANG Worldwide (OTC:SLGWF) shares closed up 3.86% at $0.03
POSaBIT Systems (OTC:POSAF) shares closed up 3.85% at $0.54
Acreage Holdings (OTC:ACRHF) shares closed up 3.55% at $0.17
LOSERS:
MJ Holdings (OTC:MJNE) shares closed down 19.40% at $0.01
SOL Glb Inv (OTC:SOLCF) shares closed down 12.91% at $0.08
Delivra Health Brands (OTC:DHBUF) shares closed down 11.76% at $0.01
Rocky Mountain High (OTC:RMHB) shares closed down 10.53% at $0.01
Vext Science (OTC:VEXTF) shares closed down 9.71% at $0.17
CNBX Pharmaceuticals (OTC:CNBX) shares closed down 9.53% at $0.01
4Front Ventures (OTC:FFNTF) shares closed down 8.59% at $0.12
Radient Technologies (OTC:RDDTF) shares closed down 8.33% at $0.00
Avenir Wellness Solns (OTC:CURR) shares closed down 8.00% at $0.12
CBD Unlimited (OTC:EDXC) shares closed down 6.41% at $0.04
Urban-gro NASDAQ:UGRO shares closed down 6.25% at $1.20
Incannex Healthcare NASDAQ:IXHL shares closed down 6.13% at $1.74
Allied (OTC:ALID) shares closed down 6.00% at $0.23
CLS Holdings USA (OTC:CLSH) shares closed down 5.95% at $0.08
Panacea Life Sciences (OTC:PLSH) shares closed down 5.88% at $0.38
Livewire Ergogenics (OTC:LVVV) shares closed down 5.10% at $0.00
Stem Holdings (OTC:STMH) shares closed down 4.74% at $0.01
Zynerba Pharmaceuticals NASDAQ:ZYNE shares closed down 4.56% at $0.35
MariMed (OTC:MRMD) shares closed down 4.36% at $0.37
Rubicon Organics (OTC:ROMJF) shares closed down 4.29% at $0.34
Flora Growth NASDAQ:FLGC shares closed down 4.20% at $2.28
Greenlane Hldgs NASDAQ:GNLN shares closed down 4.06% at $0.91
MediPharm Labs (OTC:MEDIF) shares closed down 3.97% at $0.06
22nd Century Group NASDAQ:XXII shares closed down 3.85% at $3.12
SciSparc NASDAQ:SPRC shares closed down 3.85% at $0.43
Enveric Biosciences NASDAQ:ENVB shares closed down 3.82% at $2.52
Charlottes Web Holdings (OTC:CWBHF) shares closed down 3.78% at $0.31
WM Tech NASDAQ:MAPS shares closed down 3.51% at $1.10
Leafbuyer Techs (OTC:LBUY) shares closed down 3.43% at $0.07
Decibel Cannabis Co (OTC:DBCCF) shares closed down 3.37% at $0.10
This article was generated by Benzinga's automated content engine and reviewed by an editor.
MORE LVVV NEWS
Marijuana Stock Movers For August 2, 2023
Benzinga - 5:30 PM ET 08/02/2023
Cannabis Stock Gainers And Losers From July 26, 2023
Benzinga - 5:30 PM ET 07/26/2023
Cannabis Stock Movers For July 24, 2023
Benzinga - 5:30 PM ET 07/24/2023
Major Alpha Lithium Shareholder Opposes Price and Structure of Tecpetrol Hostile Bid
BY GlobeNewswire
— 3:05 AM ET 06/26/2023
VANCOUVER, British Columbia, June 26, 2023 (GLOBE NEWSWIRE) -- Kyle Stevenson, a strategic advisor and major shareholder of Alpha Lithium Corp. (APHLF) (German WKN: A3CUW1), issues an open letter to his fellow shareholders declaring his opposition to the price and structure of Tecpetrol Investments S.L.’s hostile bid.
The full text of the letter is included below:
To my fellow shareholders,
My name is Kyle Stevenson. I currently own 9,200,000 common shares of Alpha and securities convertible to acquire 1,300,000 additional shares of Alpha. To the best of my knowledge, I am the single largest shareholder of Alpha Lithium (APHLF).
I have been heavily involved in the Argentine lithium exploration and development industry since 2016, when I became President, CEO and a director of Millennial Lithium Corp. We developed the Pastos Grandes lithium brine project in Argentina, approximately 70 kilometers northeast of Alpha’s Tolillar project. We sold Millennial to Lithium Americas Corp. in 2022, in a transaction valuing Millennial at approximately C$491,000,000. This experience gave me considerable insight into the exploration and development of Argentine lithium brine assets, and their value in strategic M&A transactions.
In addition to my Millennial experience, I am familiar with Alpha, its assets, and its management team. I have done business with them in the past, and hope to continue working with them in the future. In 2019 I had the opportunity to travel to Argentina with management and experience, first-hand, the potential of Tolillar. Since then, I have been impressed by management’s ability to add shareholder value, and continue to be impressed by the work they’ve done in developing Alpha’s portfolio of assets.
I have carefully watched Tecpetrol’s attempt to acquire Alpha from its shareholders. I have reviewed Tecpetrol’s bid circular, as well as Alpha’s Directors’ Circular, and it is clear to me that the Tecpetrol bid is wholly inadequate, and I do not intend to tender any of my shares.
In my opinion, the Tecpetrol bid is an opportunistic attempt to seize both Alpha’s Tolillar and Hombre Muerto assets at an indefensible discount to their true value, which I strongly oppose. The bid fails to deliver value to Alpha’s shareholders, including myself, for two key reasons: The first is the valuation is embarrassingly low for Tolillar alone, and second, Tecpetrol is trying to get all the assets, including Hombre Muerto and over $30 million in cash, for no additional consideration.
1. Inadequate Value – a stink bid by all measures
Asset Value: The Tecpetrol bid significantly undervalues the Tolillar asset on its own. As the Alpha team wrote in their Directors’ Circular, the offer price represents a substantial discount to recent lithium brine transactions in Argentina, including the Millennial Lithium sale we completed in 2022. The confusing discount ignores the value added by the unique features of Alpha’s Tolillar salar, most notably: Tolillar may be one of the last wholly-owned lithium bearing salars in Argentina, and Tolillar hosts a unique and valuable freshwater reserve.
In addition to the obvious operational advantages that come with exclusive ownership of the entire salar, an independent freshwater recharge study commissioned by Alpha indicated that the freshwater aquifer located within the Tolillar salar mining tenements can sustainably support the large freshwater withdrawals needed for a top tier project (see Alpha’s press release of January 23, 2023 for more information).
Market Value: The bid price of $1.24 represents a ~15% discount to Alpha’s closing price on Friday, June 23, 2023. When Tecpetrol first announced their intention to bid Alpha’s share price was steadily climbing, consistent with prevailing trends in Lithium Carbonate Equivalent prices, making their inadequate offer even less appealing. The trading in Alpha’s shares to a high of $1.45 since the announcement of the bid indicates clearly to me that I’m not alone in considering this a ‘take under’ rather than a ‘take over’, which won’t receive the shareholder support it needs.
The unique features of Tolillar make it an incredibly compelling standalone opportunity, and by any measure, worth considerably more than Tecpetrol has offered to pay.
2. Predatory Structure – Tecpetrol wants everything, at a huge discount
Assuming Tecpetrol has taken adequate time to familiarize itself with Alpha, they know, or ought to know, that Alpha has at least two distinct and compelling assets: (i) the Tolillar project, and (ii) the roughly 5,000-hectare land position in the world-class Hombre Muerto Salar. For those of my fellow shareholders who have not yet had the opportunity, I would encourage you to review Alpha’s technical report about its Hombre Muerto asset. It’s available under Alpha’s profile at www.sedar.com. Even prior to the filing of the Hombre Muerto technical report, it would be clear to anyone who had conducted appropriate due diligence on Alpha that its early stage Hombre Muerto asset represents compelling potential for additional shareholder value. Therein lies the second problem with the Tecpetrol bid: for a low-ball price, Tecpetrol wants the de-risked Tolillar project, the discovery potential of the Hombre Muerto asset, and approximately $30 million of capital.
Tecpetrol declined to participate in the Tolillar sale process when invited by Alpha, instead deciding to make a hostile bid for the entire company. While I expect Tecpetrol hopes to be able to use the hostile bid as a way to get Tolillar at a discount, shareholders need to understand that the proposed structure would also allow Tecpetrol to also take 100% of the future potential of Hombre Muerto, whatever that may be, for essentially nothing.
I put my trust, and capital, behind the team at Alpha to develop Tolillar from a very early stage, and am impressed by the work they have done. I want to bet on this management team again to do the same thing in Hombre Muerto.
I strongly encourage Tecpetrol to engage with Alpha in a constructive manner and offer a fair price for Alpha and/or its Tolillar asset. I further encourage them to include a structure which contemplates a spin out of Hombre Muerto along with the working capital necessary to begin to develop its potential for the benefit of all current shareholders of Alpha.
Your fellow shareholder,
[signed]
Kyle Stevenson
kyle@blueprintcapital.ca
604.788.0537
Image: https://www.globenewswire.com/newsroom/ti?nf=ODg2NDE2NSM1NjYzODMyIzIyNjA3MjY=
Image: https://ml.globenewswire.com/media/NmIxNDE4ODMtMThiMi00MTM5LWJlNDMtZGUzZDQyNGY3NTA3LTEyNzIyNzY=/tiny/Kyle-Stevenson-supporting-shar.png Source: Kyle Stevenson, supporting shareholder of Alpha Lithium (APHLF) management
MORE APHLF NEWS
Alpha Lithium Files Directors’ Circular Recommending Shareholders Reject Tecpetrol’s Hostile Stink Bid
GlobeNewswire - 7:30 AM ET 06/23/2023
Alpha Lithium Files Technical Report for Highly Prospective Hombre Muerto Project in Argentina
GlobeNewswire - 7:30 AM ET 06/20/2023
TECPETROL PROVIDES AN UPDATE REGARDING ITS OFFER TO ACQUIRE ALPHA LITHIUM CORPORATION
PRN European Non-Disclosure - 8:00 AM ET 06/19/2023
Alpha Lithium Files Directors’ Circular Recommending Shareholders Reject Tecpetrol’s Hostile Stink Bid
BY GlobeNewswire
— 7:30 AM ET 06/23/2023
Do Not Tender Your Shares
VANCOUVER, British Columbia, June 23, 2023 (GLOBE NEWSWIRE) -- Alpha Lithium Corporation (APHLF) (German WKN: A3CUW1) (“Alpha” or the “Company”) today announced that the Board of Directors of Alpha (the “Board”), based on the unanimous recommendation of the Special Committee of independent directors, recommends that Alpha shareholders REJECT the hostile offer (the “Hostile Offer”) from TechEnergy Lithium Canada Inc., a recently formed subsidiary of Tecpetrol Investments S.L. (“Tecpetrol”), for the common shares of Alpha (“Common Shares”). The Board unanimously determined that Tecpetrol’s Hostile Offer is not in the best interests of the Company or its shareholders.
The Board provides some context and several reasons to REJECT the inadequate and undervalued Hostile Offer in a Directors’ Circular (the “Circular”) filed today on SEDAR at www.sedar.com and available at www.ProtectAlphaLithium.com. The Circular is also being mailed to all persons required to be sent a copy under applicable securities laws.
Shareholders are encouraged to visit the Company’s website for up-to-date information relating to the Hostile Bid. To reject the Hostile Offer, you must simply TAKE NO ACTION. If you have tendered your Common Shares and wish to withdraw, please contact your broker or Kingsdale Advisors (see contact information below).
The Circular includes a letter to shareholders from the Board, which summarizes the principal factors and compelling reasons considered by the Board in reaching its unanimous recommendation:
Reason 1 - The Hostile Offer is highly opportunistic and is a “Stink Bid” that does not reflect Alpha’s full and fair value
Tecpetrol’s offer price is below Alpha’s share price. As at June 20, 2023, the Hostile Offer price of $1.24 per Common Share was at a 13% discount to the $1.42 per share volume weighted average price since the Hostile Offer was initially made public. It is clear that shareholders believe the Hostile Offer is inadequate.
Additionally, the Hostile Offer, when evaluated on an enterprise value to lithium resources basis, is at a significant discount to the most comparable precedent sale transactions involving Argentine lithium brine projects since October 2021. At a price of $1.24 per Common Share, it is significantly below the target Common Share price from the independent research analyst that provides equity research coverage of Alpha, who has described the Hostile Offer as “not compelling” and “Still a Stink Bid, In Our View.”
Adjusting for the Company’s cash balance, Tecpetrol values the Tolillar project at $150 million (which, as described above, is significantly below precedent transaction multiples), and appears to assign no value to the Hombre Muerto project (to which an equity research analyst assigned a “nominal [value of] US$75M” prior to results from initial drilling).
On multiple occasions, Tecpetrol has indicated that it has “an ability to improve the financial terms” of its offer. However, despite admitting the offer could be improved, Tecpetrol instead elected to proceed with its “Stink Bid.”
Reason 2 – Alpha has received an inadequacy opinion from PI Financial Corp. (“PI Financial”)
PI Financial has delivered a written opinion to the Special Committee that, as of June 21, 2023, the consideration offered to Alpha shareholders under the Hostile Offer is inadequate, from a financial point of view, to Alpha shareholders. Tecpetrol is not a shareholder of Alpha and has elected NOT to become an Alpha Lithium (APHLF) shareholder, as of June 22, 2023.
Reason 3 – Tecpetrol is attempting to subvert an active and ongoing Strategic Review
The Board, through the Special Committee and consistent with its fiduciary duties, is evaluating a broad range of options as part of an expanded strategic review, including continuing with the active and ongoing sale process for its Tolillar asset, which began on December 1, 2022 (the “Sale Process”). Additionally, Alpha is exploring a possible corporate transaction (collectively, the “Strategic Review”).
Alpha has attempted, unsuccessfully, to engage with Tecpetrol within the Sale Process, based on market-standard practices and agreements; even seeking to accommodate Tecpetrol’s desire to acquire the entire Company. Tecpetrol repeatedly refused to engage constructively. By launching the Hostile Offer, Tecpetrol is attempting to disrupt the ongoing Sale Process and acquire Alpha at the lowest price possible, frustrating the efforts of the Company to obtain appropriate value for Alpha shareholders.
In connection with the Strategic Review, the Company has recently begun to explore interest with various parties in a corporate-level transaction and will consider various strategic alternatives, which may include, but are not limited to, possible change of control transactions or asset sales with one or more third parties (including a spin-off of certain assets or the separate sale of core assets), partnerships with strategic or financial partners or remaining independent and pursuing Alpha’s existing strategy as a stand-alone entity. The Board believes that Alpha is well-positioned and its unique lithium assets are highly attractive to other parties in addition to Tecpetrol.
Reason 4 – The Hostile Offer is highly conditional
The Hostile Offer is highly conditional, effectively providing Tecpetrol with an unfair option to withdraw or proceed with its offer in its sole discretion. The Hostile Offer contains over 25 subjective conditions and sub-conditions which must be satisfied or waived before Tecpetrol is obligated to take up and pay for any Common Shares deposited under the Hostile Offer. Certain of the conditions and sub-conditions provide broad discretion in favour of Tecpetrol, a number of which are not subject to any materiality thresholds or other objective criteria, and include language such as “the Offeror having determined, in its sole judgment”, which appears to be limited only by its reasonable judgment. These conditions, in effect, could provide Tecpetrol with an unfair option to withdraw or proceed with the Hostile Offer and Alpha shareholders bear a risk of non-completion.
Take No Action
The Board and management of Alpha will not tender to the Tecpetrol bid. For the reasons fully described in our Directors’ Circular, Alpha recommends that shareholders REJECT the undervalued and opportunistic Hostile Offer. To reject, shareholders simply need to do nothing. If you have already tendered your Common Shares and wish to withdraw, simply ask your broker or contact Kingsdale Advisors (by phone at 1-800-749-9197 (toll-free in North America) or 647-251-9740 (for collect calls outside North America) or by email at contactus@kingsdaleadvisors.com) to assist you with this process. For more information, please go to www.ProtectAlphaLithium.com.
Image: Scan Me
Advisors
Credit Suisse Securities USA LLC is serving as the Company’s financial advisor, Cozen O’Connor LLP is serving as the Company’s legal advisor and McMillan LLP is serving as the Special Committee’s legal advisor. PI Financial has been appointed independent financial advisor to the Special Committee. Longview Communications & Public Affairs is serving as government and public relations advisor and Kingsdale Advisors is serving as strategic shareholder and communications advisor.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
“Brad Nichol”
Brad Nichol
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com
Kingsdale Advisors
1 800 749 9179 (toll free in North America)
+1 647 251 9740 (collect, outside North America)
contactus@kingsdaleadvisors.com
www.ProtectAlphaLithium.com
About Alpha Lithium (APHLF) (German WKN: A3CUW1)
Alpha Lithium (APHLF) 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.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts, including statements concerning the Hostile Offer, the Sale Process and the Strategic Review and the possible results thereof. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further discussions, if any, between the Company, Tecpetrol and other third parties, the ability of the Company to successfully complete the Sale Process or the Strategic Review or to do so on a timely basis, global economic conditions and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, include numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
A QR code accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2eeb3d8-76be-4542-a76c-48463ec733a5
Image: https://www.globenewswire.com/newsroom/ti?nf=ODg2MzI1MSM1NjYxMzk5IzIxOTQzMDM=
Image: https://ml.globenewswire.com/media/MTJlMzk4N2QtYjM0NC00NDNhLTllNDktZTYwNGE2ZTQ1MjJjLTEyMDU4NTY=/tiny/Alpha-Lithium-Corp.png
Image: Primary Logo
Scan Me
Image: https://ml.globenewswire.com/media/e2eeb3d8-76be-4542-a76c-48463ec733a5/medium/scan-me.png
Scan Me
Source: Alpha Lithium Corp (APHLF)
MORE APHLF NEWS
Alpha Lithium Files Technical Report for Highly Prospective Hombre Muerto Project in Argentina
GlobeNewswire - 7:30 AM ET 06/20/2023
TECPETROL PROVIDES AN UPDATE REGARDING ITS OFFER TO ACQUIRE ALPHA LITHIUM CORPORATION
PRN European Non-Disclosure - 8:00 AM ET 06/19/2023
TECPETROL PROVIDES AN UPDATE REGARDING ITS OFFER TO ACQUIRE ALPHA LITHIUM CORPORATION
Canada NewsWire - 8:00 AM ET 06/19/2023
Alpha Lithium Advises Shareholders to TAKE NO ACTION on Tecpetrol’s Significantly Undervalued Takeover Bid
BY GlobeNewswire
— 7:30 AM ET 06/09/2023
• Offer is below Alpha Lithium’s current market price, as well as its trailing 10 and 20 day average prices
VANCOUVER, British Columbia, June 09, 2023 (GLOBE NEWSWIRE) -- Alpha Lithium Corporation (APHLF) (German WKN: A3CUW1) (“Alpha Lithium (APHLF)” or the “Company”) announces that it has received an unsolicited takeover bid from TechEnergy Lithium Canada Inc., a subsidiary formed five days ago by the Spanish firm Tecpetrol Investments S.L. (“Tecpetrol”) (the “Tecpetrol Offer”).
The board of directors of Alpha Lithium (APHLF) (the “Board”) and its special committee of independent directors (the “Special Committee”) will review the Tecpetrol Offer and related takeover bid circular with their financial and legal advisors; after which, the Board will respond in detail and make a recommendation to the Company’s shareholders through a news release and a directors’ circular, in accordance with applicable securities laws, within the next 15 calendar days.
As noted in the Company’s June 5, 2023 press release, Alpha Lithium (APHLF) has been involved in an ongoing and comprehensive process to explore the potential sale of the Tolillar asset, with a focus on maximizing value for shareholders.
The Tecpetrol Offer appears to be a transparent attempt to frustrate an ongoing and robust competitive process, at a price significantly below precedent transactions.
Accordingly, Alpha Lithium (APHLF) urges shareholders to take no action and not to deposit any Alpha Lithium (APHLF) shares in relation to the Tecpetrol Offer. Additionally, Alpha Lithium (APHLF) shareholders should not take any action on the Tecpetrol Offer until Alpha Lithium’s Special Committee and Board have had the opportunity to fully review the Tecpetrol Offer (including other possible alternatives) in detail and make a formal recommendation to shareholders.
The Tecpetrol Offer will remain open until 5:00 pm on September 22, 2023, which will provide ample time for shareholders to reach a decision.
Tecpetrol first made an unsolicited non-binding offer on May 15, 2023, which was rejected by the Board after determining the bid to be opportunistic with a low and declining premium to the trading price of the Company’s common shares and not in the best interests of Alpha Lithium (APHLF) shareholders.
Subsequently on June 2, 2023, Tecpetrol announced its intention of taking the same undervalued bid directly to shareholders via a formal takeover bid to be made by a Canadian subsidiary that did not then exist.
Advisors
Credit Suisse Securities USA LLC is serving as the Company’s financial advisor, Cozen O’Connor LLP is serving as the Company’s legal advisor and McMillan LLP is serving as the Special Committee’s legal advisor. Longview Communications & Public Affairs is serving as government and public relations advisor and Kingsdale Advisors is serving as strategic shareholder and communications advisor.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
“Brad Nichol”
Brad Nichol
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com
About Alpha Lithium (APHLF) (German WKN: A3CUW1)
Alpha Lithium (APHLF) 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 Orocobre Limited, Galaxy Lithium, 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.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts, including statements concerning the Tecpetrol Offer and maximizing shareholder value. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further discussions, if any, between the Company, Tecpetrol and other third parties, the ability of the Company to successfully complete the process to explore the potential sale of the Tolillar asset or to do so on a timely basis, global economic conditions and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, include numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
Image: https://www.globenewswire.com/newsroom/ti?nf=ODg1NTQwNSM1NjM5Mzk5IzIxOTQzMDM=
Image: https://ml.globenewswire.com/media/YjA2M2UwNDItZTBjZC00NjEzLWEyZTgtNTAwYThkNDMwMGZjLTEyMDU4NTY=/tiny/Alpha-Lithium-Corp.png
Image: Primary Logo
Source: Alpha Lithium Corp (APHLF)
TECPETROL COMMENCES ALL-CASH OFFER TO ACQUIRE ALPHA LITHIUM CORPORATION
BY PR Newswire
— 7:15 AM ET 06/08/2023
The Offer provides Alpha shareholders with the opportunity to realize compelling, immediate and certain value
Tecpetrol is a credible and experienced counterparty with clear path to closing
Shareholders who have questions with respect to the Offer may contact Laurel Hill Advisory Group, the Depositary and Information Agent for the Offer, at 1-877-452-7184 (North America Toll Free), 416-304-0211 (Calls Outside North America) or by email at assistance@laurelhill.com
TORONTO, June 8, 2023 /PRNewswire/ -- Tecpetrol Investments S.L. ("Tecpetrol"), a member of the Techint Group, announced today that it has now formally commenced its previously-announced offer (the "Offer") to acquire all of the issued and outstanding common shares ("Shares") of Alpha Lithium Corporation (APHLF) (German WKN: A3CUW1) ("Alpha"), a Canadian incorporated, headquartered and listed company.
The notice and advertisement of the Offer appears in the June 8, 2023 editions of The Globe & Mail and La Presse and the offer and take-over bid circular (the "Offer and Circular") and related documents have been filed with the Canadian securities regulators on SEDAR under Alpha's profile at www.sedar.com.
The Consideration
Under the terms and conditions of the Offer, Alpha shareholders will receive cash consideration of C$1.24 per Share, providing Alpha shareholders with the opportunity to realize compelling, immediate and certain value in an all-cash transaction with a credible transaction partner with a clear path to closing.
The Offer is open for acceptance until 5:00 p.m. (Vancouver time) on September 22, 2023, unless the Offer is extended, accelerated or withdrawn by Tecpetrol in accordance with its terms. Tecpetrol has requested a list of security holders from Alpha and will mail the Offer and Circular and related documents to Alpha security holders as soon as practicable after receipt of such list.
Tecpetrol remains open to engaging in constructive discussions (on a non-exclusive basis) with Alpha with a view to increasing the offer price. Tecpetrol is prepared to do so on terms that protect the confidentiality of those discussions regarding price without inappropriately limiting the opportunity for shareholders to decide whether to accept the Offer or otherwise restricting Tecpetrol's strategic options.
Reasons to Accept the Offer
As further described in the Offer and Circular, Tecpetrol believes the Offer provides significant benefits and the reasons to tender to the Offer include, among others:
An attractive cash payment and immediate liquidity to shareholders through de-risked transaction;
A credible and experienced counterparty with clear path to closing;
Alpha's standalone plan remains challenging and underfunded;
An opportunity for shareholders to determine the outcome of their investment; and
No financing condition.
Offer Details
The Offer is subject to certain conditions being satisfied or, where permitted, waived at or prior to the expiry of the Offer. Such conditions include, among others described in the Offer and Circular: (a) there having been validly deposited under the Offer and not withdrawn that number of Shares which represent more than 50% of the outstanding Shares, excluding those Shares beneficially owned, or over which control or direction is exercised, by Tecpetrol or by any Person acting jointly or in concert with Tecpetrol, which is a statutory non-waivable condition; (b) there having been validly deposited under the Offer and not withdrawn that number of Shares (together with associated rights under Alpha's shareholder rights plan) which represent at the expiry of the Offer at least two-thirds of the outstanding Shares on a fully-diluted basis; (c) Tecpetrol having determined that there has not occurred a material adverse effect in respect of Alpha; and (d) Tecpetrol having determined that Alpha has not taken any action or disclosed that it intends to take any action that might make it inadvisable for Tecpetrol to proceed with the Offer, such as the entering into any definitive agreement or transaction under or in connection with the sale process disclosed by Alpha in its June 5, 2023 news release. The Offer is not subject to any due diligence or access condition, financing condition or Tecpetrol shareholder approval condition. In addition, to the knowledge of Tecpetrol, there are no regulatory approvals required in connection with the Offer.
Tecpetrol encourages Alpha shareholders to read the full details of the Offer and other important information set forth in the Offer and Circular and related documents, including instructions on how Alpha shareholders can tender their Shares under the Offer.
Shareholders who have questions or require assistance in tendering their Shares may contact Laurel Hill Advisory Group, the Depositary and Information Agent for the Offer, by telephone toll-free inside North America at 1-877-452-7184, or outside North America at 1-416-304-0211, or by email at assistance@laurelhill.com.
About the Tecpetrol Energy Transition Unit
Tecpetrol's Energy Transition Unit is Techint Group's dedicated business unit responsible for advancing its position in the global energy transition through investments in decarbonized energy sources, carriers and technologies, with the objective of contributing to a significant reduction in the carbon footprint. As part of this initiative through its subsidiary Techenergy Lithium S.A., Tecpetrol has built a lithium processing pilot plant in northern Argentina engineered for scale, which supports a production flowsheet involving direct lithium extraction. For additional information on Tecpetrol, please visit its website at https://www.tecpetrol.com/en.
The Techint Group is a global conglomerate with diversified business lines in steelmaking, complex infrastructure construction, design and construction of industrial plans and machinery, technologies for the metals and mining industries, oil and gas exploration and production and research-oriented health facilities. Through our six main companies – Tenaris S.A. (TS) , Ternium S.A. (TX) , Techint Engineering & Construction, Tenova, Tecpetrol and Humanitas – the Techint Group operates on six continents, employs 79,300 employees and generates over US$33 billion in annual revenue. We have an extensive track record of completing large transactions in industrial and extractive sectors around the globe, including in Canada, and in navigating complex regulatory frameworks. For additional information on the Techint Group, please visit its website at https://www.techintgroup.com/en.
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 Tecpetrol 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 Tecpetrol, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, performance or achievements of Tecpetrol or the completion of the Offer to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information include, without limitation: the ultimate outcome of any possible transaction between Tecpetrol and Alpha, including the possibility that Alpha will or will not accept a transaction with Tecpetrol; actions taken by Alpha; actions taken by security holders of Alpha in respect of the Offer; that the conditions of the Offer may not be satisfied or waived by the Offeror at the expiry of the Offer period; and the pendency or completion of the Offer or any subsequent transaction. Forward-looking information in this news release is based on Tecpetrol's beliefs and opinions 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 Tecpetrol expressly disclaims any obligation to do so except as required by applicable law.
Disclaimers
This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities. The Offer will be made solely by, and subject to the terms and conditions set out in, the formal offer and take-over bid circular, letter of transmittal and notice of guaranteed delivery. The Offer will not be made to, nor will deposits be accepted from or on behalf of, shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction.
The Offer will be made for the securities of a Canadian company that does not have securities registered under section 12 of the United States Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"). Accordingly, the Offer is not subject to section 14(d) of the U.S. Exchange Act or Regulation 14D or Rule 14e-1 of Regulation 14E. The Offer will be made in the United States with respect to securities of a "foreign private issuer", as such term is defined in Rule 3b-4 under the U.S. Exchange Act, in accordance with Canadian corporate and securities law requirements. Shareholders in the United States should be aware that such requirements are different from those of the United States applicable to tender offers under the U.S. Exchange Act and the rules and regulations promulgated thereunder.
The Offer and all contracts resulting from acceptance thereof will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. Accordingly, the provisions of the German Takeover Code (Wertpapiererwerbs- und Übernahmegesetz) do not apply to the Offer.
None of the United States Securities and Exchange Commission, any United States state securities commission or the German Federal Financial Supervisory Authority has approved or disapproved (or will approve or disapprove) the Offer, or passed (or will pass) any comment upon the fairness or the merits of the Offer or upon the adequacy or completeness of the information contained in this news release or in any other document relating to the Offer. Any representation to the contrary is unlawful.
Media Contact, Alexandre Meterissian, Email: Alexandre.meterissian@teneo.com; Investor Relations, Jorge Dimópulos, Email: Jorge.dimopulos@tecpetrol.com; Shareholder Questions / Tendering Assistance, Laurel Hill Advisory Group, Toll-Free: 1-877-452-7184, Outside North America: 1-416-304-0211, Email: assistance@laurelhill.com
Cision View original content:https://www.prnewswire.co.uk/news-releases/tecpetrol-commences-all-cash-offer-to-acquire-alpha-lithium-corporation-301846056.html
Looks like everyone is in a wait and see mode.
Thank God for global warming.....lol
I am confused, or maybe Bill is. Did we acquire Majority or Minority stake in the "Direct to consumer delivery service in LA". In the news release on March 7th it states:
$LVVV Livewire Signs Agreement to Acquire Majority Equity Stake in Los Angeles Cannabis Direct-to-Consumer Delivery Company Green Eagle and Establishes Sales Channel for the “Estrella Weedery” Brand.
In the fins it states: During the year, we have strengthened our manufacturing partnerships and distribution channels, including acquiring a minority equity position in a direct-to-consumer delivery service in Los Angeles.
?????
The Terror of Tinnitus
A Livewire Research Project
With Millions of Americans suffering, could
Cannabis be the most effective Treatment?
My name is Bill Hodson, and I’m the CEO of Livewire Ergogenics, a company focused on acquiring, managing, leasing, and licensing special-purpose real estate properties and operations conducive to producing high-quality, high-quality, handcrafted, and organically grown specialty cannabis products for medical and recreational adult-use. In 2019 we put together a research group to research the potential medical application of Cannabis to tinnitus. Tinnitus is a debilitating disease characterized by a constant ringing or buzzing sound in the ears.
Already in 2109, we had uncovered some evidence that cannabis might have a therapeutic effect on tinnitus, but more research is needed to fully understand the potential benefits and risks. Having suffered from tinnitus myself for many years, we applaud the recent studies conducted on cannabis use and tinnitus. I am a strong advocate for the medicinal properties of cannabis, and currently in the business of cultivating marijuana for medical use. Based on our experience we feel obligated to continue to support the continuing research for the potential benefits of cannabis for this debilitating condition. We will continue to explore how the organic-style products we cultivate on Estrella Ranch (by our affiliate company Estrella River Farms) can potentially assist in the search for a cure or better quality of life for over 50 million Americans currently suffering from tinnitus. Find below our Livewire Research Report and a Report from the "Journal of Otolaryngology".
LIVEWIRE RESEARCH REPORT
Cannabis contains compounds known as cannabinoids, which have been shown to have anti-inflammatory properties. In addition, some studies have suggested that cannabis may have a neuroprotective effect, which could help to prevent damage to the auditory system.
“JOURNAL OF OTOLARYNGOLOGY” RESEARCH REPORT
Overall, more research is needed to understand the relationship between cannabis and tinnitus fully. If you are considering using cannabis to treat tinnitus, you must talk to your doctor or a qualified healthcare professional to weigh the potential benefits and risks..
CLICK ON THE BUTTONS ABOVE TO DOWNLOAD REPORT
The Livewire Estate Grown Weedery
Estrella Ranch is a historic ranch property in Paso Robles, the center of California wine country. Through its subsidiary Estrella Ranch Partners, the Company has transformed this stunning property into the world's first "Estate Grown Weedery ™," with three acres of high-end, organic sun-grown cannabis products, eventually meant to become the ultimate Cannabis tourist and education destination. Estrella Ranch is the central hub for all Livewire operations in California and shares valuable resources as needed with Livewire’s subsidiary Makana Ola Ranch in Humboldt, California, the birthplace of California's cannabis cultivation. Makana Ola cultivates under a well-guarded secret of unique marijuana horticulture with a long tradition of quietly growing amongst the giant redwoods. The Livewire “Estate Grown Weedery” cultivation process focuses on the cost-effective production of the best quality organic-style cannabis in California while generating the smallest possible carbon footprint and using as few of California's energy resources as possible. Visit https://estrellariverfarms.com.
About LiveWire Ergogenics Inc.
The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations of fully compliant facilities to produce cannabis-based products for statewide distribution in California. This includes developing and licensing high-quality organic cannabinoid-based specialty products and services to create the high-quality "Estrella Estate Grown Weedery™" brand, cultivated by its subsidiary/affiliate companies Estrella Ranch Partners, Estrella River Farms, and Makana Ola Farms. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements
This release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements, predictions, and projections are inherently uncertain as they are based on current expectations and assumptions concerning the successful execution of planned future events or the Company's general future performance. Readers are cautioned not to rely on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806
714-740-5144 www.livewireergogenics.com info@livewireergogenics.com
MARKET AWARENESS Stockwatchindex, LLC
442-287-8059 www.stockwatchindex.com info@stockwatchindex.com
LIVEWIRE INVESTOR RELATIONS Tristan Cavato
805-835-2415 ir@livewireergogenics.com info@livewireergogenics.com
Stay Tuned - The Story Continues
If you want to follow all other companies that we cover with more in-depth research reports,
?go to our research site at www.swiresearch.com/report-index to download the reports,
or visit www.stockwatchindex.com for up-to-date news on the covered companies.
?
Please feel free to redistribute the reports to your friends and colleagues.
See us on Social Media
You do realize reinvestment is profit, you just don't see it in the stock price right now. Someday, someone will recognize the fact and give the stock credit where credit is due and the SP will reflect the growth.
I guess I'll have to turn off the lights.......When we move to the new lodge that's going to be built from the profits. Long and strong.
San Francisco Examiner Picks Livewire's Estrella River Farms as one of the 12 Best Flower Brands for 2023 in the Bay Area
12 Best Flower Brands for 2023 In San Francisco Bay Area
According to a Pew Research study, 59% of Americans believe recreational cannabis consumption should be legal for adults. The “Stoner Stigma” is falling away and cannabis consumption can be compared to drinking wine; a social ritual that relaxes you and elevates the experience. Just like fine wine grape vines, premium cannabis is carefully cultivated. Tended with care and science - the ultimate focus is on the final product for the consumer. The CDFA’s Cannabis Appellations Program (CAP) is working toward making cannabis cultivation regional designations on par with those of Napa and Sonoma Valley. There is even a sommelier of cannabis certification - a ganjier - program available in Humboldt County. Flower and genetic brands are like the vintners (herbners?) of cannabis. Some grow and package the best, others find and combine the best. Here are the best “herbners” to watch in 2023.
The Livewire Estate Grown Weedery
Estrella Ranch is a historic ranch property in Paso Robles, the center of California wine country. Through its subsidiary Estrella Ranch Partners, the Company has transformed this stunning property into the world's first "Estate Grown Weedery," with three acres of high-end, organic sun-grown cannabis products and eventually becoming the ultimate Cannabis tourist and education destination. Estrella Ranch is the central hub for all Livewire operations in California and shares valuable resources as needed with Livewire’s subsidiary Makana Ola Ranch in Humboldt, California. Makana Ola Farms is a 40-acre property with a 10,000 sqft cultivation area located in the heart of Humboldt County in Northern California, the birthplace of California's cannabis cultivation. Makana Ola is a well-guarded secret of unique marijuana horticulture with a long tradition of quietly growing amongst the giant redwoods. The Livewire Estate Grown Weedery cultivation approach focuses on the cost-effective production of the best quality organic-style cannabis in California while generating the smallest possible carbon footprint and using as few of California's energy resources as possible. Visit https://estrellariverfarms.com.
About?LiveWire?Ergogenics?Inc.
The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations of fully compliant facilities to produce cannabis-based products for statewide distribution in California. This includes developing and licensing high-quality organic cannabinoid-based specialty products and services to create the high-quality "Estrella Estate Grown Weedery™" brand, cultivated by its subsidiary/affiliate companies Estrella Ranch Partners, Estrella River Farms, and Makana Ola. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit?www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to?www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company's future performance. Readers are cautioned not to rely on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806
714-740-5144 www.livewireergogenics.com info@livewireergogenics.com
MARKET AWARENESS Stockwatchindex, LLC
442-287-8059 www.stockwatchindex.com info@stockwatchindex.com
LIVEWIRE INVESTOR RELATIONS Tristan Cavato
805-835-2415 ir@livewireergogenics.com info@livewireergogenics.com
Stay Tuned - The Story Continues
San Francisco Examiner Picks Livewire's Estrella River Farms as one of the 12 Best Flower Brands for 2023 in the Bay Area
12 Best Flower Brands for 2023 In San Francisco Bay Area
According to a Pew Research study, 59% of Americans believe recreational cannabis consumption should be legal for adults. The “Stoner Stigma” is falling away and cannabis consumption can be compared to drinking wine; a social ritual that relaxes you and elevates the experience. Just like fine wine grape vines, premium cannabis is carefully cultivated. Tended with care and science - the ultimate focus is on the final product for the consumer. The CDFA’s Cannabis Appellations Program (CAP) is working toward making cannabis cultivation regional designations on par with those of Napa and Sonoma Valley. There is even a sommelier of cannabis certification - a ganjier - program available in Humboldt County. Flower and genetic brands are like the vintners (herbners?) of cannabis. Some grow and package the best, others find and combine the best. Here are the best “herbners” to watch in 2023.
The Livewire Estate Grown Weedery
Estrella Ranch is a historic ranch property in Paso Robles, the center of California wine country. Through its subsidiary Estrella Ranch Partners, the Company has transformed this stunning property into the world's first "Estate Grown Weedery," with three acres of high-end, organic sun-grown cannabis products and eventually becoming the ultimate Cannabis tourist and education destination. Estrella Ranch is the central hub for all Livewire operations in California and shares valuable resources as needed with Livewire’s subsidiary Makana Ola Ranch in Humboldt, California. Makana Ola Farms is a 40-acre property with a 10,000 sqft cultivation area located in the heart of Humboldt County in Northern California, the birthplace of California's cannabis cultivation. Makana Ola is a well-guarded secret of unique marijuana horticulture with a long tradition of quietly growing amongst the giant redwoods. The Livewire Estate Grown Weedery cultivation approach focuses on the cost-effective production of the best quality organic-style cannabis in California while generating the smallest possible carbon footprint and using as few of California's energy resources as possible. Visit https://estrellariverfarms.com.
About?LiveWire?Ergogenics?Inc.
The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations of fully compliant facilities to produce cannabis-based products for statewide distribution in California. This includes developing and licensing high-quality organic cannabinoid-based specialty products and services to create the high-quality "Estrella Estate Grown Weedery™" brand, cultivated by its subsidiary/affiliate companies Estrella Ranch Partners, Estrella River Farms, and Makana Ola. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit?www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to?www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company's future performance. Readers are cautioned not to rely on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806
714-740-5144 www.livewireergogenics.com info@livewireergogenics.com
MARKET AWARENESS Stockwatchindex, LLC
442-287-8059 www.stockwatchindex.com info@stockwatchindex.com
LIVEWIRE INVESTOR RELATIONS Tristan Cavato
805-835-2415 ir@livewireergogenics.com info@livewireergogenics.com
Stay Tuned - The Story Continues
Alpha Lithium Granted Drilling Licenses for Hombre Muerto Salar in Argentina
BY GlobeNewswire
— 7:20 AM ET 01/17/2023
VANCOUVER, British Columbia, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Alpha Lithium Corporation (APHLF) (German WKN: A3CUW1) (“Alpha” or the “Company”), a company with two large, undeveloped lithium assets in the Salta region of Argentina, is pleased to report that it has received licenses to commence exploration operations on its properties in the Salar del Hombre Muerto (“Hombre Muerto”) in Argentina.
The Company is already performing the mandatory health and safety checks of the rig and crew on the initial drilling rig, which it expects to mobilize to commence drilling before the end of this month. Alpha has secured a second drilling rig, which is s expected to join the ongoing operation as soon as possible in 2023.
Alpha intends to drill up to 12 wellbores on its 5,000+ hectare Hombre Muerto property over the next 12 months, in addition to implementing several new Vertical Electrical Sounding (“VES”) campaigns (see August 16, 2022 news).
Hombre Muerto is recognized as one of the most desirable salars in South America, as it hosts the (i) highest lithium brine grades, (ii) lowest levels of impurities and (iii) highest flow rates in Argentina. Hombre Muerto is Argentina’s longest producing salar, with Livent Corp having produced 20,000 tonnes/year of battery-grade lithium for over 25 years.
At present, the Company controls over 5,000 hectares in Hombre Muerto. Until now, the salar has been primarily controlled by three large, multinational corporations: (i) Argentina’s oldest lithium chemicals producer, Livent Corp; (ii) Korea-based, POSCO; and, (iii) Australian producer, Allkem Ltd. In 2022, after meeting with local government officials, POSCO announced plans to spend an additional US$4 billion on their 10,000 hectares in Hombre Muerto, signifying their intentions to tap into the rising demand for lithium.
The Company intends to increase its land position at Hombre Muerto and will update shareholders accordingly, when progress is made in this regard.
Brad Nichol, President and CEO of Alpha, commented, “To finally commence operations at Hombre Muerto is an incredibly exciting, game-changing moment for Alpha and its shareholders. Having developed Tolillar to a point where it continues to attract significant industry interest, our team can focus on expanding and repeating its past two years of rapid success in Tolillar, now, in Hombre Muerto.”
Hombre Muerto is only 10-15 km from Tolillar and, in the short-term, the Company will utilize the recently-enlarged camp at Tolillar as its home base for operations.
All operations and assets of the Company are in Argentina and are fully managed by Alpha Lithium Argentina SA (“Alpha SA”) utilizing local employees and consultants. Neither Alpha, nor Alpha SA, have any operations or assets in Canada.
Since initiating the first steps of an exploration program in 2020, Alpha SA has drilled more than 20 holes, constructed an in-house brine chemistry research laboratory, developed a proprietary Lithium Carbonate production process that works in Tolillar with remarkable success, started construction of a pilot plant, and employed dozens of highly skilled Argentinian technologists, engineers, geologists, geophysicists and chemists, in addition to several students, accounting, managerial and HR professionals. The Company is grateful for, and reliant upon, the significantly large Argentinian team that has proven instrumental at generating value for shareholders.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
“Brad Nichol”
Brad Nichol
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com
First cannabis bill introduced in new Congress
Jan. 16, 2023 12:28 PM ETTilray Brands, Inc. (TLRY), ACB, CGC, CRON, ACB:CA, WEED:CA, CRON:CA, TLRY:CAOGI, HEXO, TRSSF, CURLF, MMNFF, GTBIF, TCNNF, CRLBF, CLVR, YOLO, CCHWF, SNDL, CNBS, POTX, MSOS, ACRHF, AYRWFBy: Dulan Lokuwithana, SA News Editor90 Comments
cannabis legalization in the united states of america. cannabis leaf in hands on usa flag background
strelov/iStock via Getty Images
A group of GOP lawmakers in the U.S. House of Representatives has put forward the first marijuana bill for the newly formed 118th Congress, seeking to amend federal law related to firearm sales to medical cannabis users.
The bill sponsored by Rep. Alex Mooney (R-WV) proposes reforms on the “sale, purchase, shipment, receipt, or possession of a firearm or ammunition by a user of medical marijuana, and for other purposes.”
The current law bars the users of cannabis – either recreational or medical – from purchasing or possessing guns as the compound is considered a federally controlled substance.
The proposed legislation introduced in the House on Friday is being cosponsored by Rep. Thomas Massie (R-KY) and Rep. Brian Mast (R-FL), who serves as a co-chair of the Congressional Cannabis Caucus.
While further details of the measure are not yet available, cannabis publication Marijuana Moment said it appears to resemble a previous bill introduced in 2019, which did not clear the legislature.
U.S. MSOs: MedMen Enterprises (OTCQB:MMNFF), Curaleaf Holdings (OTCPK:CURLF), Acreage Holdings (OTCQX:ACRHF), Cresco Labs (OTCQX:CRLBF), Green Thumb Industries (OTCQX:GTBIF), Trulieve Cannabis (OTCQX:TCNNF), Ayr Wellness (OTCQX:AYRWF), Columbia Care (OTCQX:CCHWF), TerrAscend (OTCQX:TRSSF), Clever Leaves Holdings (CLVR)
Canadian Licensed Producers: Canopy Growth (NASDAQ:CGC), Tilray (NASDAQ:TLRY), Cronos (NASDAQ:CRON), Aurora Cannabis (NASDAQ:ACB), Sundial Growers (SNDL), OrganiGram Holdings (OGI), HEXO Corp (HEXO)
Cannabis-focused ETFs: AdvisorShares Pure Cannabis ETF (YOLO), Global X Cannabis ETF (POTX), ETFMG Alternative Harvest ETF(MJ). Amplify Seymour Cannabis ETF (CNBS), AdvisorShares Pure US Cannabis ETF (MSOS)
Listed cannabis players in the U.S. and Canada have historically rallied in response to legal reforms. In early December, President Joe Biden signed a marijuana research bill into law reigniting investor interest in the industry.
Read why Seeking Alpha contributor Alan Brochstein remains cautious on AdvisorShares Pure US Cannabis ETF (MSOS) despite its recent decline.