Sayona Mining Limited Stock Market Press Releases and Company Profile
Repayment of Convertible Notes
Repayment of Convertible Notes

Brisbane, May 7, 2020 AEST (ABN Newswire) - Sayona Mining Limited (googlechartASX:SYA) (googlechartDML:FRA) (googlechartDMNXF:OTCMKTS) announced today it has undertaken an early redemption of 491,400 unlisted convertible notes (googlechartASX: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 Sayona Mining Limited

Sayona Mining LtdSayona 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). 

 

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Contact

Brett Lynch
Managing Director
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au



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