Atlantic Lithium Limited — Capital/Financing Update 2023

Dec 14, 2023

15 December 2023

Successful Completion of A$8 million Equity Placing

Atlan�c Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlan�c Lithium” or the “Company”), the African-focused lithium explora�on and development company targe�ng to deliver Ghana’s first lithium mine, is pleased to announce it has successfully completed its institutional placement ("Equity Placing"), as announced on 14 December 2023 (“Launch Announcement”), raising A$8.0 million (equivalent to approximately £4.2 million) at a price of A$0.44 (23.35 pence) per New Share (“Issue Price”). A total of 18,181,819 new fully paid ordinary shares of no-par value each in the Company will be issued (“New Shares”).

Proceeds will enable the completion of the activities agreed under the grant of the Mining Lease for the Project, key items of early works and permitting-related Project expenditure, for further extensional drilling to support the delivery of an upgraded Mineral Resource Estimate for the Project in Q3 2024, and for working capital purposes.

Canaccord Genuity (Australia) Limited ("Canaccord") is acting as Lead Manager ("Lead Manager") to the Equity Placement. Wilsons Advisory & Stockbroking is acting as Co-Manager (“Co-Manager”).

Commen�ng, Neil Herbert, Execu�ve Chairman of Atlan�c Lithium, said :

“Through the support of our existing institutional shareholder base and in welcoming a number of new institutions onto our register, we are pleased to have successfully raised A$8 million. As we await the completion and the receipt of the funds from the Minerals Income Investment Fund’s investment, as well as the completion of the off-take process that is currently underway, the proceeds put the Company in a strong position to continue advancing the Ewoyaa Lithium Project at pace.

“The Placing enables us to fund the numerous activities that are underway or imminent that seek to add further value to the Project, aligning with the growth ambitions of the Company.

“With a number of key milestones ahead of us, we look forward to providing further updates on our progress in due course.”

Allotment and Admission

Application will be made to the London Stock Exchange and the Australian Securities Exchange for admission of the 18,181,819 New Shares to trading on AIM and ASX, expected to take place at 8:00 a.m. on 22 December 2023 on AIM and 10:00 a.m. on 22 December 2023 Sydney time on ASX.

15 December 2023

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Total Vo�ng Rights

Following Admission, there will be 630,423,479 Ordinary Shares in issue carrying voting rights admitted to trading (on AIM and ASX). This figure 630,423,479 may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the market abuse regulation (EU) no. 596/2014 as it forms part of UK domestic law pursuant to the European Union (withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

For any further informa�on, please contact:

Atlan�c Lithium Limited

Neil Herbert (Execu�ve Chairman)

Amanda Harsas (Finance Director and Company Secretary)

[www.atlan�clithium.com.au ]

IR@atlan�clithium.com.au

Tel: +61 2 8072 0640

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SP Angel Corporate Finance LLP Yellow Jersey PR Limited Canaccord Genuity Limited Nominated Adviser Charles Goodwin Financial Adviser: Jeff Kea�ng Bessie Elliot Raj Khatri (UK) / Charlie Bouverat atlan�c@yellowjerseypr.com Duncan St John, Chris�an Tel: +44 (0)20 3470 0470 Tel: +44 (0)20 3004 9512 Calabrese (Australia)

Corporate Broking: James Asensio, Harry Rees Tel: +44 (0) 20 7523 4500

Notes to Editors:

About Atlan�c Lithium

www.atlan�clithium.com.au

Atlan�c Lithium is an AIM and ASX-listed lithium company advancing a por�olio of lithium projects in Ghana and Côte d’Ivoire through to produc�on.

on track to become Ghana’s first lithium-producing mine.

year mine life, making it one of the top 10 largest spodumene concentrate mines in the world.

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Successful Comple�on of Equity Placing

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15 December 2023

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The Project, which was awarded a Mining Lease in October 2023, is being developed under a funding agreement with Piedmont Lithium Inc.

Atlan�c Lithium holds 509km[2] and 774km[2] of tenure across Ghana and Côte d'Ivoire respec�vely, comprising significantly under-explored, highly prospec�ve licences.

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Successful Comple�on of Equity Placing

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