Shares of Atlas Lithium Corporation (ATLX), are surging more than 19 percent in pre-market on Thursday to $17.83, after the lithium exploration and development company received $30 million strategic investment from Mitsui & Co., Ltd.
Mitsui is purchasing $30 million of Atlas Lithium shares at a 10% premium to the 5-day volume-weighted average price.
"The Strategic Investment provides Atlas Lithium with immediately available funds to continue its rapid development towards revenue generation with the production and sale of high-quality, low cost, environmentally sustainable lithium concentrate," Atlas Lithium said in a statement.
Mitsui has also entered into an offtake agreement with Atlas Lithium for the future purchase of lithium concentrate. Mitsui will buy 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium's soon-to-be-producing Neves Project in Brazil's Lithium Valley.
Atlas Lithium shares had closed at $14.92, up 7.18 percent on Wednesday. The stock has been trading in the range of $11.80 - $45.00 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.