Atlas Lithium to Co-host the Inaugural Brazil Lithium Summit

Rhea-AI Summary

Atlas Lithium (NASDAQ: ATLX) will co-host the inaugural Brazil Lithium Summit from June 11-13, 2024, in Belo Horizonte, Brazil.

The summit, endorsed by Invest Minas, will gather key industry players and investors to discuss Brazil's lithium potential.

Atlas Lithium CEO Marc Fogassa will introduce the event and moderate a panel featuring Ernie Ortiz, CEO of Lithium Royalty (LRC), which invested $20 million in Atlas Lithium in 2023. Mitsui & Co. , which invested $30 million and signed an offtake agreement for Atlas Lithium's Neves Project, will also be represented.

Other strategic partnerships include Chengxin and Yahua, major suppliers to EV manufacturers BYD and Tesla. Atlas Lithium's processing plant is nearing completion, with production slated for Q4 2024.

The summit aims to strengthen Atlas Lithium's role in the global lithium supply chain amid the rapidly growing EV industry.

Positive

• Atlas Lithium will co-host a high-profile industry event, the Brazil Lithium Summit, enhancing its visibility.
• Endorsement by Invest Minas adds credibility to the summit and Atlas Lithium's projects.
• Panel discussion moderated by CEO Marc Fogassa, featuring significant industry figures like Ernie Ortiz.
• LRC's $20 million non-dilutive investment in Atlas Lithium reflects confidence in the company.
• Mitsui's $30 million investment and offtake agreement for the Neves Project underscores strong partnerships.
• Strategic partnerships with Chengxin and Yahua position Atlas Lithium within the EV supply chain.
• Processing plant near completion, targeting production in Q4 2024, suggests operational progress.

Negative

• Event success hinges on external factors such as attendee engagement and market interest.
• Dependence on key partnerships like Mitsui, Chengxin, and Yahua may pose risks if these relationships weaken.
• Significant investments and agreements indicate high expectations, adding pressure for Atlas Lithium to deliver.

Boca Raton, Florida--(Newsfile Corp. - June 3, 2024) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading lithium exploration and development company, is pleased to announce that it will co-host the inaugural Brazil Lithium Summit (the "Summit"). This event is set to showcase Brazil's lithium potential and will be taking place from June 11 to 13, 2024, in Belo Horizonte, the capital of the state of Minas Gerais in Brazil. Officially endorsed by Invest Minas, the state government investment agency, the Summit will serve as the exclusive platform for key industry players and international companies to engage directly with the region's decision-makers and global investors. Marc Fogassa, the CEO and Chairman of Atlas Lithium, will introduce the event and later moderate a panel discussion. The panel will include Ernie Ortiz, a seasoned lithium investor and the CEO of Lithium Royalty Corporation ("LRC"). In May 2023, LRC made a non-dilutive, royalty-based investment of US$ 20 million in Atlas Lithium.

Underscoring the strength of the recently formed partnership between Mitsui & Co., Ltd. ("Mitsui") and Atlas Lithium, several members of the senior management from Mitsui will attend the Summit. As announced on March 28, 2024, Mitsui purchased US$ 30 million of Atlas Lithium's common shares. At the same time, Mitsui and the Company executed an offtake agreement for the future purchase by Mitsui of lithium concentrate produced at Atlas Lithium's Neves Project. The Company believes that this significant transaction, which came about after eighteen months of due diligence, is a testament to its attractiveness as a soon-to-become lithium supplier.

In December 2023, as previously announced, Atlas Lithium secured investments and offtake agreements with Chengxin and Yahua, two global powerhouses in lithium chemical processing. Chengxin is a major supplier to BYD, a leading EV maker, while Yahua is a significant supplier to Tesla, another top EV manufacturer. These strategic partnerships have positioned the Company to become a key player in the lithium supply chain for the rapidly growing electric vehicle industry.

Nicholas Rowley, Vice President of Business Development at Atlas Lithium, commented, "Chengxin, Mitsui, and Yahua invested in Atlas Lithium primarily due to the long-standing relationships that our team has cultivated with these partners. Downstream lithium producers and traders are well-acquainted with the Atlas Lithium core technical team's proven track record of consistently delivering product from multiple projects in the past. An open-pit mine, such as the Neves Project, allows our development to proceed with a much lower capital expenditure and on a faster timeline, which is generating significant interest from customers."

As previously announced, Atlas Lithium's processing plant is in the final stages of fabrication and trial assembly. The Company remains on track to become a producer during the fourth quarter of 2024.

"We are thrilled to co-host and show our strong progress at the Summit, the most important lithium event in Brazil," said Marc Fogassa, CEO and Chairman of Atlas Lithium. "This groundbreaking conference unites key stakeholders from the lithium industry, government, and international investors to explore the exciting opportunities within Brazil's lithium sector. Through strategic investments and partnerships that we have secured, Atlas Lithium is well-positioned to assume a leadership role in the local market and to integrate itself into the global lithium supply chain."

For more information about the Brazil Lithium Summit, please visit:

https://www.netzerocircle.org/event/brazil-lithium-summit.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in 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, graphite, and copper. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium's ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 27, 2024. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Brian Bernier
Vice President, Investor Relations
+1 (833) 661-7900
bwb@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211362

FAQ

What is the Brazil Lithium Summit?

The Brazil Lithium Summit is an inaugural event co-hosted by Atlas Lithium from June 11-13, 2024, in Belo Horizonte, Brazil, focusing on Brazil's lithium potential.

When is the Brazil Lithium Summit 2024?

The Brazil Lithium Summit will take place from June 11-13, 2024.

Who is participating in the Brazil Lithium Summit?

Key industry players, international companies, government representatives, and global investors will participate in the Brazil Lithium Summit.

What is the significance of Mitsui's investment in Atlas Lithium?

Mitsui invested $30 million and signed an offtake agreement with Atlas Lithium, indicating strong partnership and future collaboration in lithium production.

What are the strategic partnerships secured by Atlas Lithium?

Atlas Lithium has secured partnerships with Mitsui, Chengxin, and Yahua, all significant players in the lithium and EV industries.

When will Atlas Lithium's processing plant start production?

Atlas Lithium's processing plant is expected to start production in the fourth quarter of 2024.

What is the Neves Project?

The Neves Project is an open-pit lithium mining project by Atlas Lithium, with an offtake agreement secured with Mitsui.

Who is Ernie Ortiz and what is his role at the Summit?

Ernie Ortiz is the CEO of Lithium Royalty and a panelist at the Brazil Lithium Summit, where he will share insights on lithium investments.