Atlantic Lithium Limited commence trading on the ASX

Highlights

• The company’s ASX dual listing offer (ASX offer) to acquire up to 22.85 million shares in the company at a price of AUS$0.58 per share, which was open to eligible investors in Australia, New Zealand, Hong Kong and Singapore, was fully subscribed.
• Shares were admitted to the official list of the ASX on 21 September 2022, and trading of the shares commenced on 26 September 2022, under the ticker ‘A11’.
• Trading on the ASX will have no direct impact on the trading of the company’s shares on AIM, which will continue under the ticker ‘ALL’, or on the OTCQX Best Market, trading under ‘ALLIF’.

The company recently announced a pre-feasibility Study for the Ewoyaa Lithium project in Ghana, which spotlights the project as an industry-leading lithium asset, capable of generating significant profitability.

The board believes that the ASX listing reflects the global demand for a sustainable supply of lithium to facilitate the transition to a lower carbon future and will be beneficial to the company in a number of ways:

• Raise the profile of the company's Ewoyaa project and Cape Coast Lithium portfolio in a robust resources market where lithium exploration companies have in recent times attracted significant investor interest.
• Extend Atlantic Lithium's shareholder base, enable wider trading of Atlantic Lithium shares, and provide greater liquidity for Atlantic Lithium shares.
• Allow existing Australian investors the opportunity to reposition securities held in the UK to Australia, should they so desire.
• Enable close communication with Australian investors, through its Australian headquarters.

Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:

"We are delighted to announce that trading of Atlantic Lithium’s shares has commenced on the ASX. In doing so, we welcome the support of the company’s new investors, who join us as Atlantic Lithium makes great strides, both operationally and commercially.

“Having announced the pre-feasibility study for our Ewoyaa Lithium Project only last week, we believe this is an opportune moment to raise the profile of the Project, which is on track to become Ghana’s first lithium mine and, we feel, play a fundamental role in the supply of sustainable lithium.

“At a time when significant growth in lithium demand is forecast over the coming years, driven largely by the global uptake of electric vehicles, we are eager to continue our work to progress the project through to production.

“We believe that trading on the ASX will extend the company’s shareholder base, enable wider trading and offer greater liquidity for Atlantic Lithium shares. Lithium companies listed on the ASX have attracted significant investor interest of late. As such, we believe that the listing will help enable the company to achieve a more attractive valuation in respect of its industry-leading Ewoyaa project.

“As an Australian-headquartered company, the listing also allows us to reinforce the close communication we have with an expanded group of Australian investors.

“At this fundamental moment in the company’s history, we look forward to advancing Ewoyaa towards production and delivering long-term value to all stakeholders.”

Read the article online at: https://www.globalminingreview.com/mining/27092022/atlantic-lithium-limited-commence-trading-on-the-asx/