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Sayona Mining Ltd. and Piedmont Lithium Inc. sign definitive agreement to merge companies

Date Announced

November 19, 2024

Lead Office

Montréal

Value

623.00 Million USD

On November 19, 2024, Sayona Mining Limited (“Sayona”) and Piedmont Lithium Inc. (“Piedmont”) announced the signing of a definitive agreement to combine the two companies to create a leading lithium producer and developer, resulting in Sayona being the ultimate parent entity of the merged group (the “Transaction”).  The Transaction will result in an approximately 50% / 50% equity holding of shareholders of Sayona and Piedmont (on a fully diluted basis) immediately following the closing of the Transaction. Completion of the Transaction is subject to shareholder approval for both companies and is expected to close in the first half of calendar year 2025.   As part of the Transaction, the parties intend to raise equity capital aggregating to approximately A$149 million.

McCarthy Tétrault acted as Canadian counsel to Sayona in connection with the Transaction. 

Sayona Mining is an emerging lithium producer based in Australia, with operations in Quebec and Australia.

McCarthy Tétrault advised Sayona with a team led by Louis-Nicolas Boulanger that included Charles-Antoine Soulière, Konstantin Sobolevski, Charles-Étienne Pressé, Kevin Gao, Yassine Khadir (Corporate), Dominic Thérien (Competition), Kelleher Lynch (Pensions and Benefits) and Jeremy Ho (Tax) .

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