Atlas Lithium Secures US$ 30,000,000 Strategic Investment and Offtake Settlement from Mitsui
Boca Raton, Florida–(ACN Newswire – March 28, 2024) – Atlas Lithium Company (NASDAQ: ATLX), a lithium exploration and trend firm, is labored as a lot as disclose that it has signed definitive investment and offtake agreements with Mitsui & Co., Ltd. (“Mitsui”) which the Firm considers as solid validation of its project and group. Mitsui is purchasing US$ 30,000,000 in classic shares of Atlas Lithium at a 10% top fee to the 5-day VWAP (the “Strategic Investment”) and on the identical time stepping into an Offtake Settlement (the “Offtake”) for the lengthy run aquire of 15,000 quite quite a bit of lithium pay consideration from Piece 1 and 60,000 tons per 365 days for five years from Piece 2 of Atlas Lithium’s soon to be producing Neves Mission in Brazil’s Lithium Valley. The Strategic Investment offers Atlas Lithium with in an instant on hand funds to continue its rapid trend towards revenue generation with the manufacturing and sale of excessive-quality, cheap, environmentally sustainable lithium pay consideration.
Mitsui and Atlas Lithium entered a Memorandum of View as announced in January 2023 and the 2 companies possess since developed a shut rapport which has incorporated multiple due diligence visits by Mitsui executives and technical experts to the Firm’s project, and visits by Atlas Lithium’s administration to plenty of of Mitsui’s offices in Brazil, the United States, Canada, and Japan. The Strategic Investment is a fruits of the mutual hobby in rising Atlas Lithium. It delivers extra financing to enable Atlas Lithium to continue to aggressively approach its trend towards operation of an originate pit lithium mine and spodumene concentrating facility by the fourth quarter of 2024. Mitsui has a solid presence in Brazil dating from 1960 and a lengthy history of a hit mining investments within the country.
“At present marks a fundamental milestone for Atlas Lithium as we development towards our intention of changing into a key lithium vendor to the international EV battery materials supply chain. Mitsui’s investment reflects self belief in our group, resources, and industry model,” acknowledged Marc Fogassa, CEO and Chairman of Atlas Lithium. “I am honored and humbled to be right here in Tokyo signing this historical settlement for Atlas Lithium that can with out a doubt result in colossal tag creation for our shareholders. I if truth be told possess watched the connection of our companies develop and I factor in that this partnership with Mitsui strengthens Atlas Lithium significantly.”
Figure 1: Signing Ceremony with Marc Fogassa, Atlas Lithium CEO and Chairman, and Akinobu Hashimoto, Long-established Supervisor, Mitsui’s New Metals & Aluminum Division.
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Figure 2: Atlas Lithium Administration Joined by Mitsui Senior Executives, In conjunction with Tetsuya Fukuda, Chief Running Officer, Mineral & Steel Resources Industry Unit, and Masaya Inamuro, Long-established Supervisor, Corporate Planning & Approach Division.
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Closing of the investment is predicted inner ten days, enviornment to inclined approvals. Further dinky print are supplied on a Make 8-K invent filed with the Securities and Alternate Commission on the present time. Atlas Lithium’s advisor is Goldman Sachs & Co. and its loyal counsel is DLA Piper U.S.
About Atlas Lithium Company
Atlas Lithium Company (NASDAQ: ATLX) is centered on advancing and creating its 100%-owned challenging-rock lithium project in Brazil’s Lithium Valley, a effectively-identified lithium district within the assert of Minas Gerais. To boot, Atlas Lithium has 100% ownership of mineral rights for other battery and excessive metals including nickel, uncommon earths, titanium, graphite, and copper. The Firm also owns equity stakes in Apollo Resources Corp. (inner most firm; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).
About Mitsui
Mitsui & Co. is a international shopping and selling and investment firm with a presence in additional than 60 international locations and a numerous industry portfolio covering a tall sequence of industries. The firm identifies, develops, and grows its companies in partnership with a international community of depended on companions including world leading companies, combining its geographic and crude-industry strengths to scheme lengthy-timeframe sustainable tag for its stakeholders. Mitsui has blueprint three key strategic initiatives for its contemporary Medium-timeframe Administration Conception: supporting industries to develop and evolve with stable offers of sources and materials, and offering infrastructure; promoting a international transition to low-carbon and renewable energy; and empowering of us to manual wholesome lives by intention of the shipping of quality healthcare and access to good diet. Discuss to www.mitsui.com for more info.
Safe Harbor Assertion
This press free up incorporates forward-searching statements inner the that come of Piece 27A of the Securities Act of 1933 and Piece 21E of the Securities Alternate Act of 1934. Forward searching statements are based totally upon the hot plans, estimates and projections of Atlas Lithium and its subsidiaries and are enviornment to inherent dangers and uncertainties which could trigger accurate results to range from the forward- searching statements. Such statements consist of, amongst others, these pertaining to market and industry section development and demand and acceptance of most contemporary and reward products; any projections of manufacturing, reserves, gross sales, earnings, revenue, margins or other financial items; any statements of the plans, solutions and goals of administration for future operations; any statements referring to future economic prerequisites or performance; uncertainties connected to conducting industry in Brazil, as well to all assumptions, expectations, predictions, intentions or beliefs about future occasions. As a consequence of this truth, you ought to no longer blueprint undue reliance on these forward-searching statements. The next factors, amongst others, could trigger accurate results to range from these blueprint forth within the forward-searching statements: results from ongoing geotechnical diagnosis of initiatives; industry prerequisites in Brazil; classic economic prerequisites, geopolitical occasions, and regulatory adjustments; availability of capital; Atlas Lithium’s skill to assist its aggressive situation; manipulative makes an attempt by short sellers to drive down our inventory tag; and dependence on key administration.
Further dangers connected to the Firm and its subsidiaries are more totally mentioned within the part entitled “Threat Components” within the Firm’s Make 10-K filed with the Securities and Alternate Commission (the “SEC”) on March 27, 2024. Please also consult with the Firm’s other filings with the SEC, all of which could well well be on hand at www.sec.gov. To boot, any forward-searching statements represent the Firm’s views easiest as of on the present time and could well well no longer be relied upon as representing its views as of any subsequent date. The Firm explicitly disclaims any duty to change any forward-searching statements.
Investor Family:
Brian Bernier
Vice President, Investor Family
+1 (833) 661-7900
bwb@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium
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Topic: Press free up summary
Offer: Atlas Lithium Company
Sectors: Metals & Mining, Day-to-day Finance, Day-to-day Recordsdata
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