Atlas Lithium secures $30M strategic investment and offtake deal with Mitsui

Atlas Lithium Corp

Mitsui to purchase $30M of common shares at 10% premium to 5-day VWAP; closing expected within ten days.
Offtake agreement for 15,000 tons lithium concentrate from Phase 1 and 60,000 tons/year for 5 years from Phase 2.
Funds to advance Neves Project towards production and revenue generation by Q4 2024.
Agreement follows January 2023 MoU; Mitsui conducted multiple due diligence visits.

Key facts

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 Securities Purchase Agreement with an accredited investor valued at approximately $30.0 million (effective 2024-03-28).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Value: approximately $30.0 million
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, Atlas Lithium Corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”), with an accredited investor (the “ Investor ”), pursuant to which the Company agreed to sell and issue an aggregate of 1,871,250 shares of its common stock, par value $0.001 per share (the “ Registered Shares ”) in a registered direct offering (the “ Registered Offering ”) at a purchase price of $16.0321 per share.

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394 material agreements filed in the last 30 days. Browse all material agreements →

Atlas Lithium Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-012140

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