Atlantis Resources Limited has today (21st May) announced its result of placing of new ordinary shares to be soon traded on AIM. This relates to a deal announced in December 2017 with SIMEC Group, part of the GFG Alliance, that seeks to create a new renewable energy entity.
The key points of the deal include:
Jay Hambro, Chief Executive - Energy and Mining - SIMEC Group commented:
"This is a significant moment in the development of the GFG Alliance. SIMEC Atlantis Energy, the first part of the group to achieve listed status, will be a major new force in the renewable energy sector. The talent, expertise and track record of the Atlantis team in producing ground breaking renewable technologies make them a perfect fit for SIMEC and the wider group. Our GREENSTEEL and GREENALUMINIUM business models have renewable generation at their core and are based on a vision of energy and industry working side by side. We're looking forward to working with Atlantis to develop the assets and systems necessary to power and to provide additional low carbon electricity to help meet national demand."
The deal is expected to complete on 15th June 2018