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$DMNXF - Halted on pending news and this: Piedmont Announces strategic investments in Sayona Mining Limited and Sayona Quebec Inc

Piedmont Announces Proposed U.S. Public Offering of American Depositary Shares
March 22, 2021 04:02 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) today announced that it plans to conduct a U.S. public offering, subject to market and other conditions, of 1.5 million of its American Depositary Shares (“ADSs”), with each ADS representing 100 of its ordinary shares (“Public Offering”).

J.P. Morgan, Evercore ISI and Canaccord Genuity are acting as joint book-runners and lead underwriters for the Public Offering. Piedmont intends to grant the underwriters a 30-day option to purchase up to 225,000 additional ADSs at the issue price of the Public Offering.

Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including definitive feasibility studies, testwork, permitting, further exploration drilling, mineral resource estimate updates and ongoing land consolidation, to fund the previously announced strategic investments in Sayona Mining Limited and Sayona Quebec Inc and other possible strategic initiatives, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering of the ADSs has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone] or by e-mail at [e-mail]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at [phone] or by e-mail at [e-mail]; and Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attention: Syndicate Department, by telephone at [phone] or email at [e-mail].

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.