Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("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 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

Paul Crawford
Company Secretary
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au



Link: Renounceable Entitlement Offer - Shortfall Notice


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