DTC Eligibility for OTCQX Electronic Trading

Atlantic Lithium Limited

26 May 2023

 

26 May 2023

Corporate Update

DTC Eligibility for OTCQX Electronic Trading

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, is pleased to announce that the Company's common shares ("Common Shares") listed on the OTCQX® Best Market ("OTCQX") in the United States are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC").

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be "DTC Eligible".

DTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers. This enables the Common Shares to be traded over a wider selection of brokerage firms.

Online brokers such as TD Ameritrade, Fidelity Investments, Charles Schwab and E*TRADE all offer OTCQX trades. Investors trading via other online brokers should contact their respective brokers to ascertain whether OTCQX shares can be made available to them.

The Company believes that trading on the OTCQX market provides enhanced investor benefits and greater, more efficient access to prospective investors in the US, where there is significant interest in lithium due to its role in the global decarbonisation thematic.

The Company commenced trading on the OTCQX in November 2021, with B. Riley Securities, Inc. acting as the Company's sponsor. In January 2023, the Company was pleased to announce that it had been listed in the 2023 OTCQX® Best 50, an annual ranking of the top performing companies traded on the OTCQX Best Market in 2022.

Atlantic Lithium shares trade on the OTCQX under the ticker "ALLIF".

Commenting, Amanda Harsas, Finance Director & Company Secretary of Atlantic Lithium, said:

"We consider DTC eligibility to be a tremendous value-add for existing and prospective North American investors as it significantly reduces barriers to trade by enabling brokers to quickly and easily exchange shares through the DTC. Real-time electronic trading helps ease volatility of transactions, enables higher trade volumes and offers lower trading fees. This is the latest in a series of moves that we have made to enhance the visibility and attractiveness of Atlantic Lithium stock in North America, where interest to invest in the EV supply chain is particularly strong."

For any further information, please contact:

Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au [e-mail]	Tel: [phone]
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat	Tel: [phone]
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees	Tel: [phone]
Liberum Capital Limited Joint Company Broker Scott Mathieson Kane Collings	Tel: [phone]
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot [e-mail]	Tel: [phone]

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

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 licences.

 

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