Piedmont Lithium sells portion of Atlantic shares to Assore

Piedmont Lithium “announced an agreement to sell a portion of shares it holds in Atlantic Lithium. The Company has agreed to sell 24.3 million shares of Atlantic for GBP0.25 per share, representing a premium to the prevailing market price. The shares to be sold represent approximately 3.9% of Atlantic’s outstanding shares and will result in approximately US$7.8 million in proceeds for Piedmont. Following the transaction, Assore will own approximately 28.4% of Atlantic. Piedmont will retain 32.7 million Atlantic shares, representing approximately 5.2% ownership in Atlantic. The sale of these shares has no impact on Piedmont’s joint venture, earn-in, or offtake position with Atlantic or the Ewoyaa project.”