Sayona Mining Ltd: Bid for NAL to be Submitted for Court Approval

27.05.2021  |  ABN Newswire

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (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 Ltd..

About Sayona Mining Ltd:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) 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.

Please visit us as at www.sayonamining.com.au

Source:
Sayona Mining Ltd.

Contact:

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