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Atlas Lithium Corporation (NASDAQ: ATLX), a prominent player in lithium exploration and development, has announced a strategic $20,000,000 investment from lithium-focused investors, spearheaded by Martin Rowley, former Chairman of Allkem Ltd. and Lead Advisor to Atlas Lithium.
John Rowley, with his extensive background in the lithium industry, has led the investment through a three-year unsecured convertible note with a 6.5% annual coupon. This note is convertible at $28.225 per share, representing a 25% premium over the recent average stock price, and offers the option for repayment by Atlas Lithium after one year under specific conditions.
Marc Fogassa, the Company’s Chairman and CEO, expressed that securing capital at a 6.5% rate, against the backdrop of nearly 5% U.S. Treasury yields, signifies robust investor confidence. The conversion price’s significant premium and the alignment with knowledgeable lithium investors like Martin Rowley are seen as major advantages for the Company’s growth.
Rowley praised Atlas Lithium’s strong asset base, dedicated team, and supportive community, emphasizing that the new funding will accelerate the development of the Neves Project in Brazil’s Lithium Valley. His increased involvement and investment are aimed at propelling the Company’s growth and realizing the potential of its lithium assets.
Atlas Lithium is advancing its 100%-owned hard-rock lithium project in Minas Gerais, Brazil, and holds rights to other critical metals. The Company also has equity in Apollo Resources Corp. and Jupiter Gold Corp. (OTCQB: JUPGF).
This press release includes forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially. Factors that might affect Atlas Lithium’s performance include ongoing project analysis, business conditions in Brazil, general economic conditions, regulatory changes, and capital availability. For a detailed discussion of risks and other factors, please refer to the Company’s SEC filings.
Atlas Lithium remains committed to maintaining its competitive edge and is supported by a management team focused on sustainable growth and value creation for its stakeholders.
Company Website: https://www.atlas-lithium.com
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