By Josh Beckerman

Atlas Lithium Corp. shares, recently up 16% to $9.83, spiked to $12.93 Wednesday morning, a few hours after it announced a memorandum of understanding for potential sales of lithium concentrate to Mitsui & Co.

Volume was more than 4.4 million shares compared with the six-figure volume numbers that the stock posted each day since its uplisting to Nasdaq last week.

Atlas said the MOU contemplates potential funding of up to $65 million, in tranches and subject to milestones.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 18, 2023 14:42 ET (19:42 GMT)

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