- Benzinga
EXCLUSIVE: Atlas Lithium Partners with Mitsui for $30M Investment and Lithium Offtake, Signals Confidence in Brazil's Lithium Valley Project
Atlas Lithium Corporation (NASDAQ:ATLX) has signed definitive investment and offtake agreements with Mitsui & Co, Ltd, which the Company considers to be a strong validation of its project and team. Mitsui is purchasing $30 million in common shares of Atlas Lithium at a 10% premium to the 5-day VWAP and, at the same time, entering into an Offtake Agreement for the future purchase of 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithi
- Reuters
Japan's Mitsui to invest in Atlas Lithium in the US
Japan's Mitsui & Co said on Thursday the company agreed to invest in Atlas Lithium Corporation in the United States by subscribing to a $30 million third-party allocation of new shares by the U.S. company. Atlas is developing a lithium mine project in Brazil's Lithium Valley. The project in Brazil is expected to start production in the fourth quarter of 2024, with its annual production to reach 300,000 tons of spodumene concentrate, which would be enough to be used in about 1 million electric vehicles, Mitsui said.
- Zacks
Should Value Investors Buy Mitsui & Co. (MITSY) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
