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Alabama Graphite Receives Court Approval for Acquisition by Westwater Resources

2018-03-20

Mar. 19, 2018 - Alabama Graphite Corp. is pleased to announce that the Corporation has received a final order from the Supreme Court of British Columbia approving the acquisition by US-based Westwater Resources, Inc. (“Westwater”), through a wholly-owned subsidiary, of all of the issued and outstanding securities of Alabama Graphite by way of a Plan of Arrangement (the “Arrangement”).


President Tyler Dinwoodie commented, “We are very pleased to be in receipt of the Final Order from the BC Supreme Court, which represents an important milestone for the Corporation as we continue to move towards the completion of the Plan of Arrangement transaction. CEO Dr. Gareth Hatch and I are pleased to be joining Westwater, as we move forward and rapidly accelerate our business strategy for Alabama Graphite to become the first American pure-play battery-graphite manufacturer in the United States.”


As previously announced, securityholders of Alabama Graphite approved the Arrangement at a special meeting of securityholders held on March 9, 2018, with 97.24% of securities and 96.86% of common shares voted at the special meeting voting in favour of the Arrangement. As such, completion of the Arrangement remains subject only to: (i) the final approval of the TSX Venture Exchange; (ii) the approval of the shareholders of Westwater, which will be sought at their annual meeting to be held on April 19, 2018; and (iii) the satisfaction of certain other closing conditions customary in transactions of this nature, as described in Alabama Graphite’s management information circular dated February 7, 2018 (the “Circular”) and including the condition that no action or circumstance will occur that would result in a Material Adverse Effect (as such term is defined in the Circular). Assuming the satisfaction or waiver of these conditions, the Arrangement is expected to close by the end of the second quarter of 2018.

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