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Atlantic Lithium Limited Announces Corporate Update Change of terms for Share Options

Atlantic Lithium Limited

SYDNEY, AUSTRALIA / ACCESSWIRE / December 30, 2022 / 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, wishes to advise the following changes of terms for existing Share Options ("Options").
The following changes have been made to the Options held by the Estate of Atlantic Lithium's founder and former CEO, Mr Vincent Mascolo, who passed away earlier this year. The Board has amended the expiry date of the unlisted Options held by the Estate of the late Mr Mascolo to the original expiry date the Options were issued to, as detailed below.

Unlisted Options

Number of Strike Price Original Amended New

Options Expiry Date Expiry Date Expiry Date

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(RNS 22 April 2022)

5,000,000 40 pence 18 Aug 2023 31 Dec 2022 18 Aug 2023

6,000,000 50 pence 18 Aug 2023 31 Dec 2022 18 Aug 2023

For any further information, please contact:

Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
www.atlanticlithium.com.au

Tel: +61 2 8072 0640

atlantic@yellowjerseypr.com

SP Angel Corporate Finance LLP
Nominated Adviser
Jeff Keating
Charlie Bouverat

Tel: +44 (0)20 3470 0470

Canaccord Genuity Limited
Joint Company Broker
Raj Khatri
James Asensio
Harry Rees

Tel: +44 (0) 20 7523 4500

Liberum Capital Limited
Joint Company Broker
Scott Mathieson
Edward Thomas
Kane Collings

Tel: +44 (0) 20 3100 2000

Yellow Jersey PR Limited
Henry Wilkinson
Dominic Barretto
Bessie Elliot

Tel: +44 (0)20 3004 9512

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlantic Lithium Limited



View source version on accesswire.com:
https://www.accesswire.com/733630/Atlantic-Lithium-Limited-Announces-Corporate-Update-Change-of-terms-for-Share-Options