---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015107"
form_type: "8-K"
ticker: "ATLX"
cik: "0001540684"
company_name: "Atlas Lithium Corp"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:25:30.736195+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Atlas Lithium sells 3% gross revenue royalty on 19 Brazilian claims for $20M

## Summary
- Sold 3% gross revenue royalty on 19 Brazilian mineral properties to Lithium Royalty Corp for $20M cash.
- Deal closed on May 2, 2023; LRC also gets option to buy additional royalty on other claims for $5M.
- Royalty payments start from first product sale from properties; paid quarterly.
- Atlas Lithium's Brazilian subsidiary is vendor; parent company guarantees obligations.
- Funds will be used for development of the company's lithium projects.

## SEC filing metadata
- accession: 0001493152-23-015107
- form_type: 8-K
- ticker: ATLX
- cik: 0001540684
- company_name: Atlas Lithium Corp
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/0001493152-23-015107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015107
- JSON: https://secwatch.observer/filing/0001493152-23-015107.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015107.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/0001493152-23-015107-index.htm
- Material Agreements
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/0001493152-23-015107-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.