Atlas Lithium Elects New Directors, Adjusts Compensation
Ticker: ATLX · Form: 8-K · Filed: Jul 23, 2024 · CIK: 1540684
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Atlas Lithium adds new blood to the board and tweaks exec pay.
AI Summary
Atlas Lithium Corporation announced on July 17, 2024, a change in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Mr. David M. D'Onofrio and Mr. Steven M. D'Onofrio, to its Board of Directors. The filing also details compensatory arrangements for certain officers, though specific dollar amounts for these arrangements are not provided in this section of the filing.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may impact future performance and strategy.
Key Players & Entities
- Atlas Lithium Corporation (company) — Registrant
- David M. D'Onofrio (person) — Newly Elected Director
- Steven M. D'Onofrio (person) — Newly Elected Director
- July 17, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors to Atlas Lithium's Board?
Mr. David M. D'Onofrio and Mr. Steven M. D'Onofrio were elected to the Board of Directors.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is July 17, 2024.
What are the main items covered in this 8-K filing?
This filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What was Atlas Lithium Corporation's former company name?
Atlas Lithium Corporation was formerly known as Brazil Minerals, Inc. and Flux Technologies, Corp.
In which state is Atlas Lithium Corporation incorporated?
Atlas Lithium Corporation is incorporated in Nevada.
Filing Stats: 974 words · 4 min read · ~3 pages · Grade level 12.6 · Accepted 2024-07-23 17:00:10
Key Financial Figures
- $0.001 — nge on Which Registered Common Stock, $0.001 par value ATLX The Nasdaq Capital M
- $713 million — uted to securing project financing of US$713 million for a ferronickel project and an additi
- $300 million — a ferronickel project and an additional $300 million Brazilian real credit facility with Ban
- $550 million — eavily involved in Ferrous Resources' US$550 million sale to Vale S/A, the largest Brazilian
- $45,000 — ditional annual compensation of up to US$45,000 and up to US$15,000 as a discretionary
- $15,000 — ensation of up to US$45,000 and up to US$15,000 as a discretionary bonus based; (iv) re
Filing Documents
- form8-k.htm (8-K) — 42KB
- 0001493152-24-028825.txt ( ) — 215KB
- atlx-20240717.xsd (EX-101.SCH) — 3KB
- atlx-20240717_lab.xml (EX-101.LAB) — 33KB
- atlx-20240717_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ATLAS LITHIUM CORPORATION Dated: July 23, 2024 By: /s/ Marc Fogassa Name: Marc Fogassa Title: Chief Executive Officer