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| Date | 17 Feb 2023 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 2222Q |
17 February 2023
Minerals Income Investment Fund "MIIF" provides
Expression of Interest - US$30m
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, notes the announcement made by the Minerals Income Investment Fund of Ghana ("MIIF"), dated 16 February 2023, regarding its expression of interest to invest up to US$30m in the Company.
The Company confirms that discussions are ongoing.
Shareholders should note that there can be no certainty that any such investment will be made by MIIF or on what terms such an investment might be made.
The Company will advise and update the market as discussions progress.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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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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 company advancing a portfolio of lithium projects 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.