Last checked at 1 Jun 2022 13:00
1 June 2022
Corporate Update
Issue of Equity - Exercise of Warrants & Options
The Board of Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, "Atlantic Lithium" or the "Company"), the African focused lithium exploration and development company, wishes to advise of the allotment and issue of 1,944,714 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of 12 pence per share as a result of:
- the exercise of 500,000 unlisted ESOP options (granted on 25th June 2020)
- the exercise of 1,444,714 unlisted broker warrants (granted on 25th June 2020)
Application will be made for the 1,944,714 Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on or around 09 June 2022 ("Admission").
On Admission of the 1,944,714 Ordinary Shares to trading the issued share capital of the Company will comprise 580,041,660 Ordinary Shares. When calculating voting rights, shareholders should use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
For any further information, please contact:
Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au | Tel: +61 2 8072 0640
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atlantic@yellowjerseypr.com
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat | Tel: +44 (0)20 3470 0470 | ||
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees |
Tel: +44 (0) 20 7523 4500
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Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings |
Tel: +44 (0) 20 3100 2000
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SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 | ||
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Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield | Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become West Africa's first lithium producing mine. The project is fully funded to production under an agreement with Piedmont Lithium for US$102m, based on the updated Scoping Study dated 7 December 2021, indicating Life of Mine revenues exceeding US$3.4bn and set to produce a premium lithium product.
Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.