Sigma Lithium Corp. said Friday (Dec. 17th) that it will receive an additional investment of around 64.2 million Canadian dollars, roughly $50.3 million, from funds and accounts managed by BlackRock Inc.
The company said that this additional investment increases the size of its previously announced private placement to a total of around C$136.7 million.
Sigma Lithium said it expects to issue a total of around 11.6 million shares from the treasury, up from 7.2 million. The price of each share is set at C$11.75.
The company plans to use the proceeds primarily to fund construction of its phase 1 production plant and mine, as well as further develop phases 2 and 3 of its Grota do Cirilo project in Brazil.
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