$DMNXF .025 - That's a nice piece of news - PIEDMONT LITHIUM INVESTS IN SAYONA;
PARTNERSHIP TO BOOST QUÉBEC PROJECTS
Highlights
• Leading U.S.-based lithium corporation, Piedmont Lithium (ASX:PLL; Nasdaq:PLL) to invest up to
US$12 million (A$15.5M) to become strategic investor and major offtake partner in Sayona,
acquiring 19.9% of Sayona Mining and 25% of Sayona Québec
• Binding offtake agreement for acquisition of up to 60,000 tonnes per annum (tpa) of spodumene
concentrate from Sayona Québec to supply Piedmont Lithium Project in North Carolina
• Partnership demonstrates quality of Québec assets and Sayona’s vision of creating lithium hub in
Abitibi, supplying North American and international battery markets.
Emerging lithium miner Sayona Mining Limited (ASX:SYA; OTC:DMNXF) announced today a strategic
partnership with leading U.S.-based lithium corporation, Piedmont Lithium (ASX:PLL; Nasdaq:PLL) that will
accelerate the development of Sayona’s lithium projects in Québec, Canada.
Under the agreements, Piedmont will acquire an initial 9.9% equity interest in Sayona (“Share Placement”)
and two unsecured convertible notes (“Convertible Notes”), which upon conversion would result in
Piedmont being issued a further 10% of Sayona’s issued capital for total consideration of approximately
US$7 million.
One of the convertible notes is immediately convertible at Piedmont’s option, while the second’s
convertibility is subject to Sayona shareholder approval. Assuming such approval, both convertible notes
will convert to equity upon completion of the investment. Piedmont will have the right to nominate one
director to Sayona’s Board, providing its voting power is at least 9%.
Further supporting Sayona’s development in Québec, Piedmont will also invest approximately US$5
million in cash for a 25% stake in Sayona Québec (“Project Investment”). The funding will help advance
Sayona’s growth plans in the province, including the Company’s flagship Authier Lithium Project, the
emerging Tansim Lithium Project and creation of a lithium hub in Québec’s Abitibi region, including the
Company’s proposed bid for NAL.
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