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- Famend mining skilled Martin Rowley leads funding spherical of US$ 20,000,000 for Atlas Lithium.
- Mr. Rowley is a pioneer of the trendy lithium trade and has over 40 years of expertise as a founder, financier, and extremely profitable mining entrepreneur.
- Mr. Rowley has the uncommon distinction of founding and rising two distinguished multi-billion-dollar firms, one in lithium (Allkem) and the opposite in copper (First Quantum Minerals).
BOCA RATON, FLORIDA – Newsfile Corp. – 8 November 2023 – Atlas Lithium Company (NASDAQ: ATLX) (“Atlas Lithium” or “Firm”), a number one lithium exploration and growth firm, is happy to announce the signing of an settlement for a key strategic increase of $20,000,000 from lithium centered buyers led by Martin Rowley, former Chairman of lithium powerhouse Allkem Ltd. and a Lead Advisor to Atlas Lithium. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., one of many largest copper firms on this planet. In 2009, he acknowledged the potential of lithium and have become Chairman of Lithium One Inc., and later Chairman of Galaxy Sources Ltd. after it merged with Lithium One. Mr. Rowley led important development in Galaxy, in the end ensuing within the merger with Orocobre Ltd. in 2021 which created international lithium producer Allkem Ltd. He retired as Chairman of Allkem in November 2022.
Atlas Lithium was supplied and has entered into an settlement that establishes a US$ 20,000,000 three-year unsecured convertible word led by Mr. Rowley together with different skilled lithium buyers (the “Funding”). The Funding carries a coupon of 6.5% each year, is convertible to widespread inventory at a value of $28.225 per share (a 25% premium to the volume-weighted common value for the three buying and selling days previous to the signing of the Funding settlement), and may be repaid by the Firm after one 12 months underneath sure circumstances. Particulars on the Funding may be discovered on the Kind 8-Okay which the Firm has filed with the Securities and Trade Fee.
Marc Fogassa, Chairman and CEO of the Firm, famous, “Within the present atmosphere the place U.S. Treasuries yield shut to five%, the truth that Atlas Lithium was in a position to increase new capital at 6.5% is a powerful final result and a sign of investor curiosity. As well as, the conversion value is at a considerable 25% upside to the present inventory value. Nonetheless, the most important profit is to have the experience of astute lithium buyers, together with Mr. Martin Rowley, aligned with our technique.”
Martin Rowley commented, “Atlas Lithium has a wonderful asset base and a devoted and hard-working group complemented by a powerful collaborative tradition. With a extremely supportive local people the place it operates, this extra funding permits the Firm to quickly advance the event of its Neves Undertaking in Brazil’s Lithium Valley. I’m thrilled to deepen my involvement with Atlas Lithium and contribute my very own assets to catalyze the corporate’s development, serving to to unlock the undoubted potential of its lithium property.”
About Atlas Lithium Company
Atlas Lithium Company (NASDAQ: ATLX) is targeted on advancing and growing its 100%-owned hard-rock lithium undertaking in Brazil’s Lithium Valley, a widely known lithium district within the state of Minas Gerais. As well as, Atlas Lithium has 100% possession of mineral rights for different battery and significant metals together with nickel, uncommon earths, titanium, and graphite. The Firm additionally owns fairness stakes in Apollo Sources Corp. (personal firm; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).
Protected Harbor Assertion
This press launch accommodates forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934. Ahead wanting statements are based mostly upon the present plans, estimates and projections of Atlas Lithium and its subsidiaries and are topic to inherent dangers and uncertainties which might trigger precise outcomes to vary from the forward- wanting statements. Such statements embrace, amongst others, these regarding market and trade phase development and demand and acceptance of latest and current merchandise; any projections of manufacturing, reserves, gross sales, earnings, income, margins or different monetary gadgets; any statements of the plans, methods and goals of administration for future operations; any statements concerning future financial circumstances or efficiency; uncertainties associated to conducting enterprise in Brazil, in addition to all assumptions, expectations, predictions, intentions or beliefs about future occasions. Subsequently, you shouldn’t place undue reliance on these forward-looking statements. The next elements, amongst others, might trigger precise outcomes to vary from these set forth within the forward-looking statements: outcomes from ongoing geotechnical evaluation of tasks; enterprise circumstances in Brazil; normal financial circumstances, geopolitical occasions, and regulatory modifications; availability of capital; Atlas Lithium’s capability to take care of its aggressive place; manipulative makes an attempt by brief sellers to drive down our inventory value; and dependence on key administration.
Extra dangers associated to the Firm and its subsidiaries are extra totally mentioned within the part entitled “Threat Elements” within the Firm’s Annual Report and in Kind 10-Q filed with the SEC on October 20, 2023. Please additionally confer with the Firm’s different filings with the SEC, all of which can be found at www.sec.gov. As well as, any forward-looking statements signify the Firm’s views solely as of at this time and shouldn’t be relied upon as representing its views as of any subsequent date. The Firm explicitly disclaims any obligation to replace any forward-looking statements.
Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium
Hashtag: #AtlasLithium
The issuer is solely accountable for the content material of this announcement.
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