Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF) said it intends to trade on the official list of the Australian Securities Exchange (ASX).
The listing reflects the global demand for a sustainable supply of lithium to facilitate the transition to a lower-carbon future, the AIM-traded company said in a statement.
"The ASX market has seen a growing interest in green commodities of late, in line with the global transition to a lower carbon future, and we have seen the valuations of many companies involved in the lithium supply chain benefit as a result,” said chairman Neil Herbert.
“We feel that listing on the ASX is timely, therefore, to enable a more favourable valuation of the company and its assets."
It said the listing will be beneficial to the company in several ways, including bringing its Ewoyaa lithium project and Cape Coast portfolio to the attention of a “robust resources market.”
In addition, it will extend its shareholder base, providing greater liquidity, while also allowing existing Australian investors to reposition stock held in the UK to Australia.
Finally, as an Australian company, the listing will allow it to communicate better with its investors in the country.
Atlantic Lithium is hoping to list by the third quarter of this year, although it stressed there is no certainty it will be admitted.
Trading on the ASX will not affect trading of the company's shares on AIM or on the OTCQX Best Market in North America, it said.