secwatch.observer — SEC 8-K summary
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Issuer:     Atlas Lithium Corp (ATLX)
CIK:        0001540684
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001493152-23-015107
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/0001493152-23-015107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223015107/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-015107

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