Tecpetrol Completes the Privatization of Alpha Lithium

VANCOUVER, Dec. 19, 2023 - Alpha Lithium Corp. (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) ("Alpha") announced today that Tecpetrol Investments S.L. ("Tecpetrol") has completed the privatization of Alpha. Alpha is now a wholly-owned indirect subsidiary of Tecpetrol.

The privatization was completed pursuant to the amalgamation (the "Amalgamation") of Alpha and 1446978 B.C. Ltd., a direct wholly-owned subsidiary of TechEnergy Lithium Canada Inc. (the "Purchaser") and an indirect wholly-owned subsidiary of Tecpetrol, under the provisions of the Business Corporations Act (British Columbia). The Amalgamation constitutes the subsequent acquisition transaction contemplated by the offer of the Purchaser to acquire all of the issued and outstanding common shares of Alpha for an offer price of C$1.48 in cash per share that expired on October 31, 2023.

It is expected that the Alpha shares will be delisted from the NEO Exchange (operating as Cboe Canada) at the close of business on December 20, 2023 and Alpha will file an application to cease to be a reporting issuer under applicable securities laws.

Additional information concerning the Amalgamation, including instructions for former shareholders to receive the consideration of C$1.48 in cash per share (less applicable withholdings) under the Amalgamation, is set forth in the notice of special meeting and information circular of Alpha dated November 13, 2023 available under Alpha's issuer profile on SEDAR+ at www.sedarplus.ca.

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. (NYSE and Mexico: TS and EXM Italy: TEN), Ternium S.A. (NYSE: 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.

SOURCE Alpha Lithium Corp.