Atlas Lithium acquires five lithium mineral rights in Brazil's Lithium Valley for cash and stock.

Atlas Lithium Corp

Acquired 1,090.88 hectares in Araçuaí and Itinga, Minas Gerais, Brazil, from an unrelated Brazilian mining enterprise.
Paid $400,000 cash and issued $750,000 in restricted common stock at closing on January 19, 2023.
Additional payments of $100,000 per area upon title transfer, then 10 monthly $22,000 payments per area.
Contingent payments and stock if mineral rights yield ≥5M or ≥10M tons of spodumene at 1.3% Li2O.
If yield >10M tons, further payment of $0.20 per ton above 10M.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Atlas Lithium Corp entered into Acquisition Agreement with an unrelated Brazilian mining enterprise valued at Payment of $400,000, ... and issuance of $750,000 worth of restricted shares (effective 2023-01-19).

Action: entry
Agreement: asset purchase
Counterparty: an unrelated Brazilian mining enterprise
Value: Payment of $400,000, ... and issuance of $750,000 worth of restricted shares
Effective: 2023-01-19

Exact text from the filing

otaling 1,090.88 hectares (~ 2,696 acres) owned by an unrelated Brazilian mining enterprise pursuant to a Mineral Rights Purchase Agreement (the “Acquisition Agreement”).

View on SEC.gov

Browse all material agreements →

Atlas Lithium Corp filing history →

Source: SEC EDGAR

accession 0001493152-23-002457

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.