Rights Commence Trading
Brisbane, Mar 17, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited ((
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today the commencement of trading of rights subject to the Company's Renounceable Rights Issue, as announced on 12 March 2020.
The rights have commenced trading under the ASX code of SYARC. Under the Rights Issue timetable, rights trading will cease on 27 March 2020.
Sayona launched on 12 March a Renounceable Rights Issue to raise up to AUD$4.3 million before costs, with the funding to support the Company's growth plans in Quebec, Canada as it advances its bid for North American Lithium.
Directors and management have demonstrated their confidence in Sayona's growth strategy by supporting the fund raising, agreeing to subscribe for AUD$420,000 of their entitlement under the offer.
Sayona's Managing Director, Brett Lynch and Sayona Quebec CEO, Guy Laliberte, have also committed to subscribe for an additional AUD$400,000 from any shortfall. The issue is partially underwritten to AUD$1.5 million by leading investment advisory firm Mahe Capital Pty Ltd.
For more information, please refer to the ASX announcements and Rights Issue Prospectus released on 12 March 2020.
About Elevra Lithium Limited
Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) is a dual-listed lithium producer and developer, supplying a reliable, secure and sustainable source of this critical mineral at the heart of global electrification.
Headquartered in Brisbane, Australia, Elevra has a globally diversified portfolio of world-class lithium assets across Quebec, North Carolina, Ghana, and Western Australia. Elevra was formed through the merger of Piedmont Lithium and Sayona Mining.
By combining operational excellence with disciplined asset management, we strive to maximise efficiency, drive superior shareholder value, and create lasting benefits for all stakeholders.
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