Atlas Lithium Corporation announced that it has entered into a securities purchase agreement and issued a convertible promissory note at a price of $20,000,000 on November 7, 2023. The notes will have a coupon rate of 6.5% per annum. The notes will be convertible into common shares of the company at a conversion price $28.225 per share.

The transaction will include participation from individual investor, Martin Rowley. The transaction is expected to close on November 24, 2023. Maturity date is 36 months as from the date of issuance.

The company will issue securities pursuant to exemption provided under Regulation D.