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Atlas Lithium Announces Investments from Strategic Parties to Advance Its Lithium Project
Boca Raton, Florida--(Newsfile Corp. - July 24, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading mineral exploration
About this update from Atlas Lithium Corporation
[{"type":"text","content":"Boca Raton, Florida--(Newsfile Corp. - July 24, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) (\"Atlas Lithium\" or \"Company\"), a leading mineral exploration company, is pleased to announce that it has received an investment of US$ 10 million for restricted shares of the Company's common stock from four investors with long-dated experience in the lithium industry. One of the investors is Mr. Martin Rowley, recently retired Chairman of Allkem Limited, a well-known lithium company with market capitalization of approximately US$ 7 billion. The capital raised will be utilized in advancing Atlas Lithium's 100%-owned Neves Project in Brazil's Lithium Valley, a well-regarded mining district for hard-rock lithium. Additional details of this transaction can be found in the Current Report on Form 8-K which the Company filed today with the Securities and Exchange Commission.\nMr. Rowley has the unique distinction of being instrumental in the creation of two major resource companies. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., a copper company which has a current market capitalization of approximately US$ 18 billion. He recognized early the potential of the lithium sector, and in 2009 become Chairman of Lithium One Inc., which at that stage had secured interests in the Sal de Vida and James Bay hard-rock lithium assets in Australia. Mr. Rowley became Chairman of Galaxy Resources Limited after it merged with Lithium One, adding to its portfolio the well-known Mt. Cattlin spodumene mine in Australia.\nMr. Rowley oversaw the operations of Galaxy Resources when it experienced significant growth, ultimately resulting in the successful merger with Orocobre Limited in 2021, which created Allkem Limited. Since the time of his appointment as Chairman of Galaxy Resources, the market capitalization of now Allkem Limited has grown from US$ 15 million to US$ 7 billion when he retired as Chairman of Allkem in November 2022.\nMarc Fogassa, Atlas Lithium's CEO and Chairman, commented, \"Mr. Rowley is one of the most distinguished names in the lithium space. Together with the other investors, this remarkable group brings unparalleled experience, industry knowledge, and contacts throughout the lithium supply chain. Atlas Lithium is most fortunate to have earned their interest as we rapidly advance our project.\"\nAbout Atlas Lithium Corp...