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 Gross Revenue Royalty Agreement with Lithium Royalty Corp. valued at 3% gross revenue royalty on products from 19 Brazilian mineral rights; LRC option to purchase additi (effective 2023-05-02).
- Action
- entry
- Counterparty
- Lithium Royalty Corp.
- Value
- 3% gross revenue royalty on products from 19 Brazilian mineral rights; LRC option to purchase additi
- Effective
- 2023-05-02
Exact text from the filing
On the same day, the Company Subsidiary and LRC entered into a Gross Revenue Royalty Agreement (the “ Royalty Agreement ”) pursuant to which the Company Subsidiary grants LRC the Royalty and undertakes to calculate and make royalty payment on a quarterly basis commencing from the first receipt of the sales proceeds with respect to the products from the Property.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Atlas Lithium Corp entered into Royalty Purchase Agreement with Lithium Royalty Corp. valued at $20,000,000 cash consideration for 3% gross revenue royalty (effective 2023-05-02).
- Action
- entry
- Counterparty
- Lithium Royalty Corp.
- Value
- $20,000,000 cash consideration for 3% gross revenue royalty
- Effective
- 2023-05-02
Exact text from the filing
On May 2, 2023, Atlas Lithium Corporation (the “ Company ”) and Atlas Litio Brasil Ltda., a Brazilian subsidiary of the Company (the “ Company Subsidiary ”), entered into a Royalty Purchase Agreement (the “ Purchase Agreement ”) with Lithium Royalty Corp., a Canadian company listed on the Toronto Stock Exchange (the “ LRC ”).
View on SEC.gov