secwatch.observer — SEC 8-K summary
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Issuer:     Atlas Lithium Corp (ATLX)
CIK:        0001540684
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001493152-23-002457
Event type: other_material
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223002457/0001493152-23-002457-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223002457/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-002457

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