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Atlantic Lithium Limited announced on 13 February 2023 that Ricca Resources Limited is undertaking a private placement ahead of its intended listing on the Australian Stock Exchange (ASX). The closing date for this pre-IPO private placement has been extended to Friday, 24 February 2023, with Ricca remaining on track for an ASX listing in H1 2023.
| Date | 13 Feb 2023 |
| Time | 09:00:01 |
| Category | Miscellaneous |
| ID | 7099P |
13 February 2023
Corporate Update
Ricca Resources Pre-IPO Placement
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, announces that Ricca Resources Limited ("Ricca") is undertaking a private placement ahead of its intended listing on the Australian Stock Exchange ("ASX").
Ricca was formed as a public unlisted entity to hold and advance the Company's suite of demerged gold projects (refer to the Company's announcement on 24 December 2021 regarding the completion of the demerger). Ricca holds extensive gold portfolios in prospective birimian terrains in Côte d'Ivoire, a potential new gold province discovery in Chad, a drill-ready gold target in Liberia and a strategic partnership to advance a lithium-tantalum project also in Côte d'Ivoire. The company remains on track to list on the ASX in H1 2023.
Due to Ricca's attendance at the 121 Mining Investment conference, the closing date of the Ricca pre-IPO private placement has been extended to Friday, 24 February 2023.
Details of the placement and the intended ASX listing can be found in the latest Ricca Resources presentation at the following link: https://www.riccaresources.com.au/presentations.
For any further information, please contact:
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Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary)
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Tel: +61 2 8072 0640
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat
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Tel: +44 (0)20 3470 0470 |
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Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees
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Tel: +44 (0) 20 7523 4500
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Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings
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Tel: +44 (0) 20 3100 2000
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Yellow Jersey PR Limited Charles Goodwin Bessie Elliot
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Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
Atlantic Lithium is an AIM and ASX-listed lithium exploration and development company advancing a portfolio of lithium projects and licenses in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.
Atlantic Lithium holds 560km2 & 774km2 of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.