VANCOUVER, British Columbia, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Alpha Lithium Corporation (TSXV: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (“Alpha” or the “Company”) is pleased to announce that it has received conditional approval from one of Canada’s senior exchanges, the NEO Exchange, to list its common shares (the “Shares”) and certain warrants (the “Warrants”) for trading.
Upon uplisting to the NEO Exchange, the Company will delist from the Canadian TMX Group’s venture exchange, the TSXV. Trading of the Company’s securities will not be disrupted in any way.
Final approval of the listing is subject to the Company fulfilling certain standard and customary conditions prescribed by the NEO Exchange. A timeline for the graduation will be announced once the Company receives final approval. Upon listing on the NEO Exchange, the Shares and Warrants will continue trading in Canada under the same symbols “ALLI” and “ALLI.WT”, respectively, and the Shares will continue trading under the symbol “APHLF” in the United States.
Brad Nichol, President and CEO of Alpha commented, “As the Company continues making significant operational advancements, an upgrade to a more senior exchange was a natural progression. As a result of the upgrade to the NEO, we anticipate garnering more interest from the world’s most significant and influential institutional investors. The NEO Exchange is also very focused on providing a customer-oriented service to companies that qualify to list. We expect this upgrade to be a win for current investors, a win for the Company and a win for potential investors.”
In connection with the anticipated listing, the NEO Exchange required the Company to make minor adjustments to its current omnibus equity incentive plan and produce an amended and restated equity incentive plan (the “2022 Plan”) to comply with the requirements of the NEO Exchange. The 2022 Plan is subject to shareholder approval, which the Company will seek at the Company’s upcoming annual general meeting of shareholders.
About NEO Exchange
NEO Exchange is a senior, progressive, Canadian stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, the NEO Exchange puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists non-venture companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
About Alpha Lithium (TSXV: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1)
Alpha Lithium 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, 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.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
President, CEO and Director
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This news release contains forward-looking statements and other statements that are not historical facts. 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 brine process testing and exploration 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, as a result of 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.
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