Atlantic Lithium Limited Announces Commencement of COO and Issue of Options
Corporate Update
Chief Operating Officer Commencement of Role
SYDNEY, November 28, 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, is pleased to announce that Keith Muller has commenced his role as non-board Chief Operating Officer with the Company.
Issue of Unlisted Share Options
Accordingly, and as part of Mr Muller's employment contract, the Company will issue him with the following unlisted options:
Unlisted Options
Number of Options Strike Price Term to Expiry
2,000,000 60 pence 2 years from issue
2,000,000 70 pence 2 years from issue
The new unlisted options will be issued to him immediately.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
ISSUE OF UNLISTED OPTIONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Keith Muller | |
| 2. | Reason for the notification | ||
| a) | Position/status: | Chief Operating Officer (Non-Board) | |
| b) | Initial notification/Amendment: | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name: | Atlantic Lithium Ltd. | |
| b) | LEI: | 213800H1JY3J7BB6BN06 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | ||
| a) | Description of the financial instrument, type of instrument: Identification code: | Unlisted options exercisable through to 28 November 2024. ISIN: AU0000237554 | |
| b) | Nature of the transaction: | Grant of options over ordinary shares. | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| 60p 70p | 2,000,000 2,000,000 | ||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above | |
| Price(s) | Volume(s) | ||
| 60p 70p | 2,000,000 2,000,000 | ||
| e) | Date of the transaction: | 28 November 2022 | |
| f) | Place of the transaction: | Outside of a trading venue | |
For any further information, please contact:
| Atlantic Lithium Ltd. | Tel: +61 2 8072 0640 |
| SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0470 |
| Canaccord Genuity Limited | Tel: +44 (0) 20 7523 4500 |
| Liberum Capital Limited | 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.
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SOURCE: Atlantic Lithium Ltd.
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