HopgoodGanim Lawyers is pleased to have advised lithium exploration and development company Atlantic Lithium Limited (ASX:A11, AIM:ALL, GSE:ALLGH) (Atlantic Lithium) on its successful capital raising, under which it has secured commitments for up to a combined US$16.4M (AUD$23.1M) through a strategic investment by a group of Ghanaian pension funds (Ghanaian Investors) and a placement to Long State Investments Limited (Long State).
The strategic investment comprises a subscription for shares and the issue of warrants to the Ghanaian Investors for a total investment of up to US$11.0M (AUD$15.5M). This novel fundraising structure aims to link project funding to the achievement of pre-defined project-based milestones that are aligned with advancing the Company’s flagship Ewoyaa Lithium Project towards production.
In parallel, Atlantic Lithium has undertaken a placement under its existing share placement agreement with Long State to raise a further US$5.4M (AUD$7.6M).
The HopgoodGanim team was led by Corporate and M&A Partner Luke Dawson, supported by Senior Associate Lily Robinson and Solicitor Declan Stack.
HopgoodGanim is proud to have a long-standing relationship with Atlantic Lithium, having advised the Company on a wide range of significant matters including its AIM listing in 2015 and dual ASX listing in 2022.