Renounceable Entitlement Offer - Shortfall Notice
Brisbane, May 29, 2018 AEST (ABN Newswire) - Sayona Mining Limited (
ASX:SYA) (DMNXF:OTCMKTS) ("Sayona" or "Company") advises that the $3.9 million one for twenty-two renounceable rights issue (Rights Issue) as announced on 4 May 2018 closed on 24 May 2018.
Applications were received under the Rights Issue for a total of 22,484,154 fully paid ordinary shares for a total subscription amount received of $1,146,692. This comprises 20,452,943 entitlement shares and 2,031,211 additionally subscribed shares.
Pursuant to the ASX Listing Rules, the Company gives notice of a shortfall in subscriptions of 54,474,889 shares (Shortfall Shares).
Under the terms of the Rights Issue, the Company has the right to place any or all of the remaining Shortfall Shares within three months after the Closing Date (i.e. by 24 August 2018) on the same terms as the Rights Issue.
The Company will issue and allot all New Shares and Options on Thursday 31 May 2018.
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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