Piedmont Lithium Inc. announces the successful completion of the merger with Sayona Mining Limited, forming Elevra Lithium.
The merger creates one of the largest hard-rock lithium platforms, enhancing the global footprint of critical lithium resources.
Shareholders of both companies have approved the merger, leading to the delisting of Piedmont's common stock and Chess Depositary Interests.
Formation of Elevra Lithium
The merger with Sayona Mining forms Elevra Lithium, positioning the company as a leading supplier of lithium resources to the EV and stationary storage supply chains.
Share Conversion Details
Holders of Piedmont common stock (PLL) will receive 0.35133 American Depositary Shares (ELVR) for each share held post-merger.
Goal of Becoming a Top Producer
Piedmont aims to become one of the largest lithium hydroxide producers in North America, supporting the transition to a net zero world.
- The merger strengthens Piedmont Lithium's global position and scale in the lithium industry.
- The combined assets and projects of Elevra Lithium will contribute significantly to meeting the rising demand for energy storage solutions.
The completion of the merger with Sayona Mining marks a significant milestone for Piedmont Lithium, enhancing its capabilities and growth potential in the evolving energy landscape.