Atlantic Lithium has granted 1,402,492 unlisted performance rights to key senior employees involved in the development of the Ewoyaa Lithium Project.
The rights, tied to new ordinary shares and issued at no cost, are subject to rigorous performance conditions set by the Board and require the employees to remain with the company until the conclusion of the measurement period on July 30, 2026.
The measurement period for the performance rights begins on July 31, 2023, and ends on July 30, 2026.
The performance rights according to a statement by Atlantic Lithium, are being granted under the Company’s ASX listing rule 7.1 capacity and do not require shareholder approval.
The performance rights are designed to align employee incentives with Atlantic Lithium’s long-term growth objectives.
The company’s Remuneration & Nomination Committee underscores the use of such rights as a vital tool for attracting, retaining, and motivating talent integral to the company’s ambitious expansion plans.
Atlantic Lithium is an AIM, ASX, GSE, and OTCQX-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a significant lithium spodumene pegmatite discovery in Ghana, through to production to become the country’s first lithium-producing mine.
The Definitive Feasibility Study for the Project indicates the production of 3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the largest spodumene concentrate mines in the world.
The Project, which was awarded a Mining Lease in October 2023, is being developed under an earn-in agreement with Piedmont Lithium.
Atlantic Lithium holds a portfolio of lithium projects within 509km2 and 774km2 of granted and under-application tenure across Ghana and Côte d’Ivoire respectively.
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