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 is a North American lithium producer (ASX:ELV) (NASDAQ:ELVR) OTCMKTS:SYAXF) with projects in Quebec, Canada, United States, Ghana and Western Australia. In Quebec, Elevra's assets comprise North American Lithium (100%) and a 60% stake in the Moblan Lithium Project in Northern Quebec. In the United States, Elevra has the Carolina Lithium project (100%) and in Ghana the Ewoyaa Lithium project (22.5%) in joint venture with Atlantic Lithium. In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
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