Repayment of Convertible Notes
Brisbane, May 7, 2020 AEST (ABN Newswire) - Sayona Mining Limited (
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today it has undertaken an early redemption of 491,400 unlisted convertible notes (ASX:SYAAB) held by Obsidian Global GP, LLC. This represents all notes currently on issue.
Repayment of the notes was identified as a planned use of funds in the Prospectus prepared for the recent renounceable pro rata entitlement offer. The total redemption amount was US$594,594.
Details of the convertible note terms are outlined in Sayona's 10 January 2020 announcement to the ASX. The Company has no debt following repayment of the notes.
Sayona's Managing Director, Brett Lynch said: "Redemption of the convertible notes is part of the Company's capital management strategy aimed at enhancing shareholder value. Sayona thanks Obsidian Global for their support for the Company as we advance our expansion plans in Quebec and Western Australia."
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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