Close-Out of Convertible Note Facility
Brisbane, July 15, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today the early close out of a convertible securities funding facility.
The Company has entered into a formal agreement with Obsidian Global GP, LLC, for the early close out of the convertible securities funding facility. The secured facility of up to $2.75 million with Obsidian was announced on 10 January 2020 (refer ASX release).
All amounts drawn under the facility have either been converted to shares or repaid.
Sayona's Managing Director, Brett Lynch commented: "Obsidian has been a great partner to work with and the s facility played an important role in supporting the Company's progress. I would like to thank them for their vote of confidence in Sayona's expansion strategy.
"With Sayona's bid for North American Lithium advancing together with our other exploration projects in Quebec and Western Australia, we have enjoyed increased investor support, particularly amid the global push towards the electrification of transport."
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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