Sayona Mining says that it has entered into a subscription agreement with PearTree Securities for the issuance of about 174.46 million shares at A$0.315 per share for gross proceeds of A$54.9 million (C$50 million) using the FTS provisions under Canadian tax law.
- Price representing a 34% premium to its last closing price
- Funds to facilitate further exploration and resource drilling at the company’s lithium projects in Québec
- New shares will be issued under its existing placement capacity
- Settlement of the placement is expected on March 9
- Jett Capital Advisors acted as adviser to Sayona
- Link to
statement (subscription required)
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