Atlantic Lithium Limited Announces Corporate Update - Notification of Major Holdings
SYDNEY, April 27, 2022 - Atlantic Lithium Ltd. (AIM:ALL)(OTCQX:ALLIF) ("Atlantic Lithium" or the "Company"), the African focused lithium exploration and development company, wishes to advise that the Company has received the following TR-1 Notification notifying of a change in major holdings. Assore International Holdings Limited voting rights now sit at 23.79% of the issued capital of the Company. For any further information, please contact:
| Neil Herbert (Chairperson) | Tel: +61 2 8072 0640 |
| SP Angel Corporate Finance LLP Nominated Adviser | Tel: +44 (0)20 3470 0470 |
| Canaccord Genuity Limited Joint Company Broker | Tel: +44 (0) 20 7523 4500 |
| Liberum Capital Limited Joint Company Broker | Tel: +44 (0) 20 3100 2000 |
| SI Capital Limited Joint Company Broker | Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 |
| Yellow Jersey PR Limited Henry Wilkinson | Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become West Africa's first lithium producing mine. The project is fully funded to production under an agreement with Piedmont Lithium for US$102m and set to produce a premium lithium product. A robust update Scoping Study indicates Life of Mine revenues exceeding US$3.4bn.
Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.
TR-1: Standard form for notification of major holdings
| NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) | ||||||
| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | Atlantic Lithium Ltd. | |||||
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
| Non-UK issuer | X | |||||
| 2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
| An acquisition or disposal of voting rights | X | |||||
| An acquisition or disposal of financial instruments | ||||||
| An event changing the breakdown of voting rights | ||||||
| Other (please specify): | ||||||
| 3. Details of person subject to the notification obligation | ||||||
| Name | Assore International Holdings Limited | |||||
| City and country of registered office (if applicable) | Winchester, United Kingdom | |||||
| 4. Full name of shareholder(s) (if different from 3.) | ||||||
| Name | ||||||
| City and country of registered office (if applicable) | ||||||
| 5. Date on which the threshold was crossed or reached: | 27 April 2022 | |||||
| 6. Date on which issuer notified (DD/MM/YYYY): | 27 April 2022 | |||||
| 7. Total positions of person(s) subject to the notification obligation | ||||||
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) | |||
| Resulting situation on the date on which threshold was crossed or reached | 23.79% | 23.79% | 137,228,994 | |||
| Position of previous notification (if applicable) | 20.81% | 20.81% | ||||
| 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii | |||||||||
| A: Voting rights attached to shares | |||||||||
| Class/type of ISIN code (if possible) | Number of voting rights ix | % of voting rights | |||||||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||
| AU0000XINEX3 | 137,228,994 | 23.79% | |||||||
| SUBTOTAL 8. A | 137,228,994 | 23.79% | |||||||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||
| SUBTOTAL 8. B 1 | |||||||||
| B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Physical or cash Settlement | Number of voting rights | % of voting rights | ||||
| SUBTOTAL 8.B.2 | |||||||||
| 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") | ||||
| Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii | X | |||
| Full chain of controlled undertakings through which the voting rights and/or the | ||||
| Name | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | |
| 10. In case of proxy voting, please identify: | ||||
| Name of the proxy holder | ||||
| The number and % of voting rights held | ||||
| The date until which the voting rights will be held | ||||
| 11. Additional information | ||||
| Place of completion | Johannesburg, South Africa |
| Date of completion | 27 April 2022 |
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SOURCE: Atlantic Lithium Ltd.
