Atlantic Lithium Announces 34 Million Share Issuance to Raise A$7.82 Million

Atlantic Lithium Announces 34 Million Share Issuance to Raise A$7.82 Million

Atlantic Lithium has announced plans to issue additional shares of 34,035,882, bringing the company’s total shares issuance to 693,147,313.

The additional shares according to Atlantic Lithium in a notice to the GSE, will be at a cost of A$0.23 per share.

Atlantic Lithium is expected to raise some A$7.82 million ($4.98 million) from the issuance.

In the notice to the GSE, Atlantic Lithium reveals that the company’s Executive Chairman, Neil Herbert, the Chief Executive Officer, Keith Muller, and Non-Executive Director, Edward Koranteng who doubles as the CEO of the Minerals Income Investment Fund (MIIF), are subscribers to the 34,035,882 shares to be issued.

The African-focused lithium exploration and development company is targeting to deliver Ghana’s first lithium mine through its flagship Ewoyaa Lithium Project.

Atlantic Lithium is an AIM, ASX, GSE, and OTCQX-listed lithium company.