On May 22, 2023, Tecpetrol Investments S.L., a Techint Group subsidiary, proposed to buy all issued shares of Alpha Lithium Corporation for C$1.24 per share. However, Alpha declined the offer and avoided further engagement with Tecpetrol. Despite the rejection, Tecpetrol showed willingness to enhance the proposal if Alpha granted them quicker due diligence access. Tecpetrol aims to integrate these lithium assets into the Western battery supply chain, aligning with Canada's critical minerals strategy. As a part of Techint Group, which has operated in Canada for over two decades, Tecpetrol emphasized its commitment by deploying a proficient team to ensure a swift transaction. The proposed acquisition promises benefits for Alpha shareholders, like a 26% premium on the 20-day volume average price and a 13% premium on the closing price. Techint Group's vast experience and Tecpetrol's ability to pay without external financing are also highlighted. Advisors for Tecpetrol include BMO Capital Markets, Davies Ward Phillips & Vineberg LLP, Crestview Strategy, and Teneo.