Atlantic Lithium Limited Announces TR1 Notification of Major Holdings
SYDNEY, November 22, 2022 - Atlantic Lithium Ltd. (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, wishes to advise that the Company has received the following TR-1 Notification notifying of a change in major holdings. Assore International Holdings Limited ("Assore") voting rights now sit at 25.06% of the issued capital of the Company.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
"We welcome the further investment by Assore showing their commitment to the Company, and indeed their active involvement and support in developing Ghana's first lithium mine."
For any further information, please contact:
| Neil Herbert (Chairperson) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au atlantic@yellowjerseypr.com | Tel: +61 2 8072 0640 |
| SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat | Tel: +44 (0)20 3470 0470 |
| Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees | Tel: +44 (0) 20 7523 4500 |
| Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings | Tel: +44 (0) 20 3100 2000 |
| | |
| Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield | Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium (formerly "IronRidge Resources") 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.
22 November 2022
TR1 Notification of Major Interest
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
AU0000237554
Issuer Name
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition of voting rights
3. Details of person subject to the notification obligation
Name
Assore International Holdings
City of registered office (if applicable)
Winchester
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
16 November 2022
6. Date on which Issuer notified
14 November 2022
7. Total positions of person(s) subject to the notification obligation
| % of voting rights attached to shares (total of 8.A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer | |
| Resulting situation on the date on which threshold was crossed or reached | 25.06% | | 25.06% | 151,810,235 |
| Position of previous notification (if applicable) | 22.65% | | 22.65% | 137,228,994 |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
| Class/Type of shares ISIN code(if possible) | Number of direct voting rights (DTR5.1) | Number of indirect voting rights (DTR5.2.1) | % of direct voting rights (DTR5.1) | % of indirect voting rights (DTR5.2.1) |
| AU0000237554 | 151,810,235 | | 25.06% | |
| Sub Total 8.A | 151,810,235 | 25.06% | ||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
| Type of financial instrument | Expiration date | Exercise/conversion period | Number of voting rights that may be acquired if the instrument is exercised/converted | % of voting rights |
| | | | | |
| Sub Total 8.B1 | | | | |
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
| Type of financial instrument | Expiration date | Exercise/conversion period | Physical or cash settlement | Number of voting rights | % of voting rights |
| | | | | | |
| Sub Total 8.B2 | | | | ||
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
| Ultimate controlling person | Name of controlled undertaking | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold |
| | | | |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
22 November 2022
13. Place Of Completion
Johannesburg, South Africa
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SOURCE: Atlantic Lithium Ltd.
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