Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said Ricca Resources Limited is undertaking a private placement ahead of its listing on the Australian Stock Exchange (ASX).
According to a statement from the lithium exploration and development group, the closing date for Ricca’s pre-IPO placement is 24 February.
Ricca was formed as a public unlisted entity to hold and advance Atlantic Lithium’s suite of demerged gold projects.
Atlantic Lithium said Ricca holds “extensive gold portfolios” in the birimian terrains in Côte d'Ivoire, a potential new gold province discovery in Chad, a drill-ready gold target in Liberia and a strategic partnership to advance a lithium-tantalum project also in Côte d'Ivoire.
The company remains on track to list on the ASX in the first half of 2023 and hopes to raise up to A$15mln.