Atlas Lithium raises $10M equity, signs $40M prepaid offtake deals for lithium concentrate

Atlas Lithium Corp

Registered direct offering of 335,908 shares at $29.77 each, raising $10M total.
Offtake agreements with two buyers for 60,000 dry metric tonnes per year each for 5 years.
Each buyer provides $20M prepayment ($40M total) offset against future deliveries.
Annual volume adjustable up or down by 10% at seller's option.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Atlas Lithium Corp entered into Offtake Agreements with Sichuan Yahua Industrial Group Co., Ltd. and Sheng Wei Zhi Yuan International Limited (effective 2023-11-29).

Action: entry
Agreement: supply
Counterparty: Sichuan Yahua Industrial Group Co., Ltd. and Sheng Wei Zhi Yuan International Limited
Effective: 2023-11-29

Exact text from the filing

the Company (hereinafter the “ Seller ”) entered into Offtake and Sales Agreements (the “ Offtake Agreements ”) with each of Sichuan Yahua Industrial Group Co., Ltd. and Sheng Wei Zhi Yuan International Limited

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Atlas Lithium Corp entered into Purchase Agreements with certain accredited investors (effective 2023-11-29).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Effective: 2023-11-29

Exact text from the filing

Atlas Lithium Corporation (the “ Company ”) entered into two securities purchase agreements dated November 29, 2023 (the “ Purchase Agreements ”), with certain accredited investors (the “ Investors ”) pursuant to which the Company agreed to sell and issue 167,954 shares of its common stock

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Atlas Lithium Corp filing history →

Source: SEC EDGAR

accession 0001493152-23-043453

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