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ELEVRA LITHIUM LIMITED — Capital/Financing Update 2017
Jan 11, 2017
64838_rns_2017-01-11_3c354487-7ded-4b0d-8c31-18e5680b287a.pdf
Capital/Financing Update
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12 JANUARY 2017
EXPIRY OF LISTED OPTIONS
Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce that 43,660,320 options exercisable at 3 cents were exercised by option holders. Proceeds (before costs) of $1,309,810 were received by the Company.
Pursuant to the option expiry underwriting agreement announced on 12 December 2016, the underwriter SMSF Specialists (SA) Pty Ltd has placed 19,000,000 shares, raising an additional $570,000.
The total proceeds of $1,879,810, together with existing cash reserves, will be used to accelerate the development of the Authier project, including the planned drilling program for early 2017, and initiate exploration on the Mallina lithium project.
For more information, please contact:
Corey Nolan Chief Executive Officer Phone: +61 (7) 3369 7058 Email: [email protected]
Sayona Mining Limited is an Australian, ASX-listed (SYA), company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. Please visit us as at www.sayonamining.com.au
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