Long State Investments and Atlantic Lithium have reached legally binding financial agreements totaling up to £28 million.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Atlantic Lithium has secured binding financing agreements worth up to £28 mn with Long State Investments, bolstering its balance sheet as the Africa-focused explorer moves closer to developing Ghana’s first lithium mine.

The AIM- and ASX-listed company said on Thursday it had struck a two-pronged deal with the Hong Kong-based investment group, comprising an £8 mn share placement and a £20 mn committed equity facility.

The funding, spread over 24 months, will provide both immediate capital and longer-term access to liquidity as the group navigates a subdued lithium market.

Source: newsthemegh.com