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Atlantic Lithium Limited lodged a Replacement Prospectus on 29 August 2022 for its Australian Securities Exchange (ASX) dual listing offer. This followed an Australian Securities Investment Commission (ASIC) notice on 22 August 2022, which extended the exposure period by 7 days, concluding on 29 August 2022. The updated indicative timetable sets the Offer Closing Date for 5 September 2022, with shares expected to commence trading on ASX on 26 September 2022.
| Date | 30 Aug 2022 |
| Time | 10:00:05 |
| Category | Capital structure |
| ID | 5571X |
30 August 2022
Corporate Update
Lodgement of Dual Listing Prospectus
Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, "Atlantic Lithium" or the "Company"), the funded Africa-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise that the Company has lodged a Replacement Prospectus in respect of its Australian Securities Exchange (ASX) dual listing offer (ASX Offer) on 29 August 2022.
On 22 August 2022 the Australian Securities Investment Commission (ASIC) served the Company with a notice to extend the exposure period for a further 7 days, so that the total exposure period is 14 days and concluded on 29 August 2022.
The Company has lodged a Replacement Prospectus to address technical issues and updates to the indicative timetable resulting from the extension of the exposure period.
Timetable
The updated indicative timetable and important dates of the ASX Offer and the ASX Dual Listing are set out below:
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Lodgement of the Replacement Prospectus with ASIC |
29 August 2022 |
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Exposure Period ends |
29 August 2022 |
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Offer Opening Date |
23 August 2022 at 9.00am (Brisbane time) |
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Offer Closing Date |
5 September 2022 at 5.00pm (Brisbane time) |
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Settlement Date of Offer |
6 September 2022 |
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Transfer of Shares under the Offer |
8 September 2022 |
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Expected date for despatch of holding statements and allotment confirmation notices |
12 September 2022 |
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Expected date for commencement of trading of Shares on ASX |
26 September 2022 |
Note: The dates shown in the table above are indicative only and may be changed at the discretion of the Directors, subject to the Corporations Act 2001 Cth), the ASX Listing Rules, and other applicable laws. The Company reserves the right to vary the Offer Closing Date, which may have a consequential effect on other dates. As such, the date the Sale Shares are expected to commence trading on ASX may vary with any change in the Offer Closing Date.
A copy of the Replacement Prospectus and application form is available to eligible investors at www.atlanticlithium.com.au.
The ASX Offer is only open to investors in Australia, New Zealand, Hong Kong and Singapore.
Further information about Atlantic is available on the Company's website https://www.atlanticlithium.com.au/
For any further information, please contact:
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Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) |
Tel: +61 2 8072 0640
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat |
Tel: +44 (0)20 3470 0470 |
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Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees |
Tel: +44 (0) 20 7523 4500
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Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings |
Tel: +44 (0) 20 3100 2000
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SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 |
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Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield |
Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become Ghana's first lithium producing mine. The project is funded to production under an agreement with Piedmont Lithium for US$102m, based on the updated Scoping Study dated 7 December 2021, indicating Life of Mine revenues exceeding US$3.4bn and set to produce a premium lithium product.
Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.