Atlantic Lithium Limited (ASX:A11) – Trading Halt
The Australian Securities Exchange (ASX) has put a trading halt on shares in Atlantic Lithium Limited (ASX:A11). The halt was requested by Atlantic Lithium as they are currently in the process of completing a capital raising.
Atlantic Lithium is an ASX listed company that is engaged in the exploration and development of minerals related to the production of Li-ion batteries, graphite, and other battery minerals that are critical to the implementation of renewable energy solutions. The company holds a portfolio of lithium, graphite, and cobalt projects in the US and Argentina.
The trading halt requested by Atlantic Lithium is pending the release of an announcement to ASX regarding details of the capital raising. Atlantic Lithium has stated that the capital raising is expected to involve the issue of new securities to investors at a discount to the company’s current share price and that the funds raised from the capital raise will be used to further expand the company’s mineral exploration and development activities.
Investors in Atlantic Lithium are now in a state of limbo until further information is provided and the trading halt is lifted. All ASX rules are to be abided during this time, meaning that investors cannot either purchase or sell shares while the trading halt is in effect.
It is likely that the trading halt in Atlantic Lithium will be lifted soon, so it is important that investors that have an interest in the company keep their ears to the ground for any further updates. Hopefully an announcement from the company regarding the details of the capital raising will be available soon.