Atlas Lithium raises $4M via private placement of 640K shares at $6.25 each

In connection with the Shares issuance and the Company’s obligation to issue $750,000 worth of restricted shares of its common stock in connection with the acquisition of the Mineral Rights as disclosed in the Company’s Current Report on Form 8-K filed with the Securities Exchange Commission (the “ SEC ”) on January 25, 2023, the Company and EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters (the “ Representative ”) in the Company’s public offering which closed on January 12, 2023 (the “ Uplisting ”), agreed to enter into a waiver and consent agreement pursuant to which the Representative agreed to consent and waive certain rights under the terms of that certain Underwriting Agreement, dated January 9, 2023, by and between the Company and the Representative (the “ Underwriting Agreement ”), including with respect to certain lock-up provisions set forth in Section 3.18 of the Underwriting Agreement.

On January 30, 2023, Atlas Lithium Corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with two investors (the “ Investors ”), pursuant to which the Company agreed to issue and sell to the Investors in a Regulation S private placement (the “ Private Placement ”) an aggregate of 640,000 restricted shares of the Company’s common stock (the “ Shares ”), par value $0.001 per share. The purchase price for the Shares was $6.25 per share, for total gross proceeds of $4,000,000.