Mitsui & Co. Takes 10% Stake in Atlas Lithium

TL;DR

**MITSUI TAKES 10% IN ATLAS LITHIUM!**

AI Summary

On April 10, 2024, Mitsui & Co. Ltd. filed an SC 13D, reporting beneficial ownership of 10.0% of Atlas Lithium Corporation's common stock. This filing indicates a significant stake in the mining company, which focuses on nonmetallic minerals. Mitsui & Co. Ltd. is a Japanese conglomerate involved in various global businesses.

Why It Matters

This filing signals a substantial investment by a major global trading company in a lithium producer, potentially impacting supply chains and future development in the battery materials sector.

Risk Assessment

Risk Level: medium — The filing indicates a significant stake by a large conglomerate, which could lead to strategic shifts or increased volatility for Atlas Lithium.

Key Numbers

• 10.0% — Ownership Stake (Mitsui & Co. Ltd.'s beneficial ownership of Atlas Lithium Corporation's common stock.)

Key Players & Entities

• Mitsui & Co. Ltd. (company) — Filing entity, holder of 10.0% of Atlas Lithium's common stock.
• Atlas Lithium Corporation (company) — Subject company, a mining company focused on nonmetallic minerals.
• 10.0% (dollar_amount) — Percentage of Atlas Lithium's common stock beneficially owned by Mitsui & Co. Ltd.
• April 10, 2024 (date) — Date of the SC 13D filing.
• Mr. Ryo Shibuya (person) — General Manager, Battery Raw Materials at Mitsui & Co. Ltd.

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti

Filing Documents

• formsc13d.htm (SC 13D) — 102KB
• ex3.htm (EX-3) — 22KB
• ex3_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-014211.txt ( ) — 134KB

From the Filing

SC 13D 1 formsc13d.htm UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Amendment No. * ATLAS LITHIUM CORPORATION (Name of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securities) 105861306 (CUSIP Number) Mr. Ryo Shibuya, General Manager Battery Raw Materials Business Dept., New Metals & Aluminium Division Mitsui & Co., Ltd. 2-1, Otemachi 1-chome Chiyoda-ku Tokyo 100-8631, Japan (Phone) +81-90-6379-3009 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy to: Jack Jacobsen O’Melveny & Myers LLP 2801 North Harwood Street Suite 1600 Dallas, TX 75201 (972) 360-1900 April 4, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box . * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 105861306 (1) Name of Reporting Person Mitsui & Co., Ltd. (2) Check the Appropriate Box if a Member of a Group (a) (b) (3) SEC Use Only (4) Source of Funds WC (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) (6) Citizenship or Place of Organization Japan Number of Shares Beneficially Owned by Each Reporting Person With: (7) Sole Voting Power 1,871,250 (8) Shared Voting Power 0 (9) Sole Dispositive Power 1,871,250 (10) Shared Dispositive Power 0 (11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,871,250 (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (13) Percent of Class Represented by Amount in Row (11) 12.8% (1) (14) Type of Reporting Person CO (1) Calculated based on an estimated 14,640,831 shares of the common stock, par value $0.001 per share of Atlas Lithium Corporation (the “Issuer”) outstanding, which includes (i) 12,769,581 shares outstanding as of March 27, 2024, as reported in the Issuer’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 27, 2024, plus (ii) 1,871,250 shares issued to Mitsui & Co., Ltd. on April 4, 2024. 2 Item 1. Security and Issuer This Stock”) of Atlas Lithium Corporation (“Atlas”), a Nevada corporation, whose principal executive offices are located at Rua Buenos Aires, 10, 14th Floor, Belo Horizonte, Minas Gerais, Brazil, 30.315-570. Item 2. Identity and Background The Schedule 13D is filed solely by Mitsui & Co., Ltd. (the “Reporting Person”). The Reporting Person is a company duly organized and existing in Japan and is primarily engaged in the business of worldwide trading of various commodities. The address of the Reporting Person’s principal executive office is 2-1, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8631, Japan. The Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). In accordance with the provisions of General Instruction C to Schedule 13D, information concerning the executive officers and directors of the Reporting Person as required by Item 2 of Schedule 13D is listed on Annex A hereto and is incorporated by reference herein. Item 3. Source and Amount of Funds or Other Considerations The purchase price for the shares of Common Stock reported herein was $US30,000,000, and the source of funds was the working capital of the Reporting Person. Item 4. Purpose of Transaction The Common Stock was acquired for investment purposes. The Reporting Person will evaluate its investment in Atlas from time to time and may at any time, based on such evaluation, market co

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