Extension of SPP
Brisbane, July 30, 2019 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today an extension of the offer of shares under the Shareholder Share Purchase Plan (SPP) lodged with ASX on 24 June 2019.
This follows the recent appointment of new Managing Director/Chief Executive Officer, Brett Lynch to drive the Company's lithium portfolio in Canada and Western Australia and unlock increased value for shareholders from strategic opportunities.
The Company continues to receive applications from shareholders and the Directors believe it is in the best interests of shareholders to extend the offer to give them the opportunity to assess additional information expected to be released over the extended offer period and in view of market conditions.
Funds raised under the Plan will be applied to the development of the Company's projects, principally the flagship Authier Lithium Project, together with general working capital.
The SPP provides eligible shareholders with the opportunity to apply for parcels of new shares in Sayona valued between $1,000 and $15,000.
Revised Timetable
Event Date---------------------------------Closing Date 14 August 2019Issue of new Shares and SPP Options 20 August 2019Quotation of SPP Shares 21 August 2019---------------------------------
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).
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