Commencement of COO and Issue of Options

RNS Number : 7006H

Atlantic Lithium Limited

28 November 2022

 

  28 November 2022

Corporate Update

Chief Operating Officer Commencement of Role

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTC: 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 Limited
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 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 Edward Thomas Kane Collings	Tel: [phone]
Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield	Tel: [phone]

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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