16 August 2024
Grant of Performance Rights
to Employees
The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE:
ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the
African-focused lithium exploration and development company
targeting to deliver Ghana's first lithium mine, is pleased to
advise the allotment and issue of a combined total of 1,402,492
unlisted performance rights under the Company's Rights Plan to key
senior employees involved in the development of the Ewoyaa Lithium
Project.
The performance rights are issued over new
ordinary shares for nil consideration. Vesting of the performance
rights is subject to performance conditions as set by the Board and
the recipient remaining employed by the Company until the end of
the measurement period. The measurement period for the performance
rights begins on 31 July 2023 and ends on 30 July 2026. The
performance rights are being granted under the Company's ASX
listing rule 7.1 capacity and shareholder approval is not being
sought.
The Company's Remuneration & Nomination
Committee believes that the use of performance rights provides a
mechanism to attract, retain and reward employees and aligns the
interests of employees with the growth objectives of the
Company.
For any further information, please
contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company
Secretary)
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www.atlanticlithium.com.au
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IR@atlanticlithium.com.au
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Tel: +61 2 8072
0640
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SP
Angel Corporate Finance LLP
Nominated Adviser
Jeff Keating
Charlie Bouverat
Tel: +44 (0)20 3470 0470
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Yellow Jersey PR
Limited
Charles
Goodwin
Bessie
Elliot
atlantic@yellowjerseypr.com
Tel: +44 (0)20 3004
9512
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Canaccord Genuity
Limited
Financial
Adviser:
Raj Khatri (UK)
/
Duncan St John,
Christian Calabrese (Australia)
Corporate
Broking:
James
Asensio
Tel: +44 (0) 20 7523
4500
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Notes to Editors:
About Atlantic
Lithium
www.atlanticlithium.com.au
Atlantic Lithium is an AIM, ASX, GSE and
OTCQX-listed lithium company advancing its flagship project, the
Ewoyaa Lithium Project, a significant lithium spodumene pegmatite
discovery in Ghana, through to production to become the country's
first lithium-producing mine.
The Definitive Feasibility Study for the Project
indicates the production of 3.6Mt of spodumene concentrate over a
12-year mine life, making it one of the largest spodumene
concentrate mines in the world.
The Project, which was awarded a Mining Lease in
October 2023, is being developed under an earn-in agreement with
Piedmont Lithium Inc.
Atlantic Lithium holds a portfolio of lithium
projects within 509km2 and 774km2 of granted
and under-application tenure across Ghana and Côte d'Ivoire
respectively, which, in addition to the Project, comprises
significantly under-explored, highly prospective
licences.