Bid for NAL to be Submitted for Court Approval
Bid for NAL to be Submitted for Court Approval
Brisbane, May 27, 2021 AEST (ABN Newswire) - Emerging lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) is advancing its Quebec expansion strategy after the monitor (administrator) appointed by the Court overseeing the Companies' Creditors Arrangement Act (Canada) process of North American Lithium Inc. (NAL), further to the support confirmation from both secured creditors of NAL, has confirmed that it will support the filing of a motion with the Court for the approval of Sayona's joint bid for NAL with Piedmont Lithium Inc. (Sayona 75%; Piedmont 25%).

In addition to the approval of the Court, the transaction remains subject to completion of definitive agreements, to shareholder approval and other necessary regulatory approvals.

Welcoming this new development, Sayona's Managing Director Brett Lynch said: "We are delighted to have reached this significant milestone, we look forward to progressing this process through to completion with the support of all stakeholders."

Desjardins Capital Markets acted as lead financial advisor to Sayona Mining Limited.

About Sayona Mining Ltd

Sayona Mining LtdSayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.

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Brett Lynch
Managing Director
Phone: +61 (7) 3369 7058

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