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ELEVRA LITHIUM LIMITED — M&A Activity 2021
May 26, 2021
64838_rns_2021-05-26_fe479a01-5f0d-4546-8eb0-63f67bf03ea2.pdf
M&A Activity
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27 May 2021
SAYONA ACQUISITION BID FOR NORTH AMERICAN LITHIUM INC. TO BE SUBMITTED FOR COURT APPROVAL
Emerging lithium producer Sayona Mining Limited (ASX:SYA; OTC:DMNXF) is advancing its Québec expansion strategy after the monitor (administrator) appointed by the Court overseeing the Companies’ Creditors Arrangement Act (Canada) process of North American Lithium Inc. (NAL), further to the support confirmation from both secured creditors of NAL, has confirmed that it will support the filing of a motion with the Court for the approval of Sayona’s joint bid for NAL with Piedmont Lithium Inc. (Sayona 75%; Piedmont 25%).
In addition to the approval of the Court, the transaction remains subject to completion of definitive agreements, to shareholder approval and other necessary regulatory approvals.
Welcoming this new development, Sayona’s Managing Director Brett Lynch said: “ We are delighted to have reached this significant milestone, we look forward to progressing this process through to completion with the support of all stakeholders.”
Desjardins Capital Markets acted as lead financial advisor to Sayona Mining Limited.
This announcement is authorised by Sayona’s Board of Directors.
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For more information, please contact:
Brett Lynch Managing Director Phone: +61 (7) 3369 7058 Email: [email protected]
For media queries, please contact:
Anthony Fensom
Republic PR Ph: +61 (0)407 112 623 Email: [email protected]
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au
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About Sayona Mining
Sayona Mining Limited is an emerging lithium miner (ASX:SYA; OTC:DMNXF), with projects in Québec, Canada and Western Australia. In Québec, Sayona’s assets comprise the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (Nasdaq:PLL; ASX:PLL) . The Company is also advancing a joint bid with Piedmont for North American Lithium (NAL).
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
For more information, please visit us at www.sayonamining.com.au
SAYONA MINING LIMITED P +61 7 3369 7058 E [email protected] A Suite 68, 283 Given Tce, Paddington QLD
sayonamining.com.au