Atlantic Lithium (ASX:A11) has announced a trading halt on its securities on the ASX starting 25 October 2024. This pause is due to a proposed capital raising, crucial for the company's strategy. The halt will remain until 28 October 2024 or upon a significant company announcement.
Atlantic Lithium Limited has initiated a trading halt due to a proposed capital raising, reflecting the company's strategic intention to secure additional funds potentially for expansion or development projects. The halt, effective from 25 October 2024, is expected to last until either the start of normal trading on 28 October 2024 or when the company releases further details. This move aligns with the company's compliance with ASX Listing Rule 17.1, ensuring regulatory adherence. Investors anticipate the capital raising could indicate upcoming growth projects or investments, marking a significant step in Atlantic Lithium's corporate strategy.
The request for the trading halt has been authorized by the Board of Directors and communicated by Amanda Harsas, the Finance Director and Company Secretary of Atlantic Lithium Limited.