–          Renowned mining professional Martin Rowley leads investment round of US$ 20,000,000 for Atlas Lithium.
–          Mr. Rowley is a pioneer of the modern lithium industry and has over 40 years of experience as a founder, financier, and highly successful mining entrepreneur.
–          Mr. Rowley has the rare distinction of founding and growing two prominent multi-billion-dollar companies, one in lithium (Allkem) and the other in copper (First Quantum Minerals).

Atlas Lithium Corporation (NASDAQ: ATLX) a leading lithium exploration and development company, today announced the signing of an agreement for a key strategic raise of $20,000,000 from lithium focused investors led by Martin Rowley, former Chairman of lithium powerhouse Allkem Ltd. and a Lead Advisor to Atlas Lithium. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., one of the largest copper companies in the world. In 2009, he recognized the potential of lithium and became Chairman of Lithium One Inc., and later Chairman of Galaxy Resources Ltd. after it merged with Lithium One. Mr. Rowley led significant growth in Galaxy, ultimately resulting in the merger with Orocobre Ltd. in 2021 which created global lithium producer Allkem Ltd. He retired as Chairman of Allkem in November 2022.

Atlas Lithium was offered and has entered into an agreement that establishes a US$ 20,000,000 three-year unsecured convertible note led by Mr. Rowley along with other experienced lithium investors. The Investment carries a coupon of 6.5% per annum, is convertible to common stock at a price of $28.225 per share (a 25% premium to the volume-weighted average price for the three trading days prior to the signing of the Investment agreement), and can be repaid by the Company after one year under certain circumstances. Details on the Investment can be found on the Form 8-K which the Company has filed with the Securities and Exchange Commission.

Marc Fogassa, Chairman and CEO of the Company, noted, “In the current environment where U.S. Treasuries yield close to 5%, the fact that Atlas Lithium was able to raise new capital at 6.5% is a strong outcome and an indication of investor interest.  In addition, the conversion price is at a substantial 25% upside to the current stock price. However, the biggest benefit is to have the expertise of astute lithium investors, including Mr. Martin Rowley, aligned with our strategy.”

Martin Rowley commented, “Atlas Lithium has an excellent asset base and a dedicated and hard-working team complemented by a strong collaborative culture. With a highly supportive local community where it operates, this additional funding allows the Company to rapidly advance the development of its Neves Project in Brazil’s Lithium Valley. I am thrilled to deepen my involvement with Atlas Lithium and contribute my own resources to catalyze the company’s growth, helping to unlock the undoubted potential of its lithium assets.”

About Atlas Lithium Corporation

Atlas Lithium Corporation is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).