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NEWS: Merger to create North America's largest lithium producer
Piedmont Lithium and Sayona Mining to Merge
Piedmont Lithium (NASDAQ: PLL) and Sayona Mining announced a merger agreement to create North America's largest lithium producer.
The all-stock merger will result in approximately 50/50 ownership split between shareholders of both companies.
The transaction includes a total equity raising of approximately US$99 million, with Piedmont raising ~US$27 million, Sayona undertaking a A$40 million raise, and a conditional placement of A$69 million to Resource Capital Fund VIII L.P. post-merger.
The merger aims to simplify corporate structure, align North American Lithium offtake economics, and create significant synergies. The combined entity will maintain listings on both ASX and NASDAQ, with completion expected in the first half of 2025, subject to shareholder and regulatory approvals.
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Aariya : any idea what price will be for the new merge company
Jaguar8 OP Aariya : None
Aariya Jaguar8 OP : i seen some thing mentioned 3.2¢ in Australian market let see what happens
Jaguar8 OP Aariya : Hmm we shall see