Atlas Lithium (NASDAQ:ATLX) Enters Into ATM Agreement with H.C. Wainwright & Co. for Up to $25.0 Million Common Stock Offering

On November 22, 2024, Atlas Lithium Corporation announced the signing of an At The Market (ATM) Agreement with H.C. Wainwright & Co., LLC, paving the way for a strategic common stock offering program.

The Agreement enables Atlas Lithium to issue and distribute, at its sole discretion, up to $25.0 million worth of common stock shares, each valued at $0.001. These shares will be offered through H.C. Wainwright, acting as the selling agent. This move falls under the umbrella of an at-the-market offering program, as per Rule 415 of the Securities Act of 1933.

The Common Shares will be issued under a prospectus supplement dated November 22, 2024, attached to the registration statement on Form S-3, filed by the company with the Securities and Exchange Commission on August 25, 2023.

H.C. Wainwright will apply its customary trading and sales practices to sell these Common Shares based on instructions from Atlas Lithium. The Company will compensate H.C. Wainwright with a commission of up to 3.0% of the gross sales proceeds from the offerings and covers the related expenses.

Atlas Lithium retains the flexibility to suspend or terminate the offering at any time. The offering period will conclude upon the completion of the sale of all Common Shares under this Agreement or its termination based on the specified conditions.

The Agreement includes standard representations, warranties, and covenants typical for such transactions. Additionally, Atlas Lithium has agreed to indemnify H.C. Wainwright against certain liabilities arising from the offering.

The complete Agreement document is filed as Exhibit 1.1 with the Current Report on Form 8-K. Brownstein Hyatt Farber Schreck, LLP has provided the legal opinion regarding the legality of the Common Shares, available as Exhibit 5.1.

It should be noted that this announcement does not constitute an offer to sell or a solicitation to buy the discussed securities. Any sale of the securities will be subject to legal and regulatory compliance.

In compliance with Form 8-K, Atlas Lithium Corporation has included various exhibits related to the Agreement, such as the ATM Agreement, legal opinions, consents, and interactive data files.

The report was duly authorized and signed by Marc Fogassa, Chief Executive Officer of Atlas Lithium Corporation, on November 22, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Atlas Lithium’s 8K filing here.

About Atlas Lithium

Atlas Lithium Corporation operates as a mineral exploration and development company in Brazil. It operates the Minas Gerais lithium project that consists of 54 mineral rights covering an area of 59,275 acres located within the Brazilian Eastern Pegmatitic Province; and Northeastern Brazil lithium project, which consists of 7 mineral rights covering an area of 16,266 acres in the States of Paraíba and Rio Grande do Norte in northeastern Brazil.