REG - Atlantic Lithium Ltd - DTC Eligibility for OTCQX Electronic Trading

Atlantic LithiumAnnouncement

26/05/2023 07:00

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RNS Number : 7929A  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                                           Tel: +61 2 8072 0640

 Neil Herbert (Executive Chairman)

 Amanda Harsas (Finance Director and Company Secretary)

 www.atlanticlithium.com.au (http://www.atlanticlithium.com.au)

 IR@atlanticlithium.com.au

 SP Angel Corporate Finance LLP                                     Tel: +44 (0)20 3470 0470

 Nominated Adviser

 Jeff Keating

 Charlie Bouverat

 Canaccord Genuity Limited                                          Tel: +44 (0) 20 7523 4500

 Joint Company Broker

 Raj Khatri

 James Asensio

 Harry Rees

 Liberum Capital Limited                                            Tel: +44 (0) 20 3100 2000

 Joint Company Broker

 Scott Mathieson

 Kane Collings

 Yellow Jersey PR Limited                                           Tel: +44 (0)20 3004 9512

 Charles Goodwin

 Bessie Elliot
 atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

Notes to Editors:

 

About Atlantic Lithium

www.atlanticlithium.com.au (http://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 560km(2) & 774km(2) of tenure across Ghana and
Côte d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

 

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