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Piedmont Lithium Divests Atlantic Lithium Shares to Assore, Boosts Capital

Piedmont Lithium’s Strategic Share Sale

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a leader in supplying crucial lithium resources to the US electric vehicle (EV) supply chain, has entered an agreement to sell a portion of its Atlantic Lithium (AIM: ALL; ASX: A11) shares to Assore International Holdings (‘Assore’).
Piedmont Lithium has signed off 24.3 million Atlantic shares at GBP0.25 each, a premium to the market price, resulting in US$7.8 million in proceeds. The transaction brings Assore’s Atlantic ownership to about 28.4%, while Piedmont retains a 5.2% stake with 32.7 million shares. Notably, this sale impacts neither Piedmont’s joint venture nor its Ewoyaa project commitments.
‘Having ended 2023 with substantial capital, we’re leveraging our Atlantic shares to reinforce our financial position,’ stated Keith Phillips, Piedmont’s President and CEO. ‘Despite a cautious approach due to the current market, we are well-positioned for the anticipated lithium sector rebound.’

Company Overview and Projects

Piedmont Lithium is on its way to becoming a top North American lithium hydroxide producer by tapping into the spodumene concentrate from its economic interests. The firm has eyes on the Carolina Lithium and Tennessee Lithium projects in the US, as well as partnerships in Quebec and Ghana. Their diversified operations serve a key role in fueling America’s energy self-reliance and transportation electrification.

Contact Information

Erin Sanders
SVP, Corporate Communications &
Investor Relations
T: +1 704 575 2549

Christian Healy/Jeff Siegel
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