Emerging lithium miner Sayona Mining Limited ((
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 Sayona Mining Limited
Sayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is a North American lithium producer with projects in Quebec, Canada and Western Australia. In Quebec, Sayona's assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Quebec.
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region
prospective for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation (ASX:1MC).
Contact
Brett LynchManaging Director
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au
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