Tecpetrol, an energy company, completed the acquisition of Alpha Lithium, a Canada-based lithium exploration company, for $203m. "Tecpetrol's intention, in line with its energy transition strategy, is to responsibly develop these premium lithium assets as part of the integrated Western battery supply chain. The proposal is aligned with Canada's critical minerals strategy, whose vision is to increase the supply of critical minerals and support the development of the domestic and global value chains for the green and digital economy," Tecpetrol. On September 22, 2023, Tecpetrol increases offer by 19%, from $0.9 to $1.1 per share, extends bid period to 3 October 2023 and lowers minimum tender condition to the legally required minimum of 50.1%. On September 28, 2023, Alpha Lithium recommended that Alpha shareholders accept the enhanced offer from Tecpetrol Investments.