Sayona Announces Board for Elevra Lithium Following Piedmont Merger
Deal News | Apr 10, 2025 | Globenewswire
Sayona Mining Limited has announced the proposed merger with Piedmont Lithium to create a new entity, Elevra Lithium Limited. This merger is subject to shareholder approval and aims to position Elevra Lithium as a leading player in the North American lithium industry. The new company will benefit from a strengthened balance sheet, a streamlined asset portfolio, and a simplified ownership structure. Upon completion of the merger, the board of Elevra Lithium will consist of eight members, equally represented by directors nominated from Sayona and Piedmont. The management and board are dedicated to implementing strategies aimed at expanding production, operational efficiencies, and increasing market reach. An Extraordinary General Meeting of Sayona shareholders is scheduled for the first half of 2025 to finalize approvals. The companies are also working on documents to comply with U.S. SEC regulations. The SEC review of the Form F-4 Registration Statement, which includes the Prospectus, is part of the procedural steps needed for the merger approval.
Sectors
- Lithium Mining and Production
- Corporate Governance
Geography
- Australia – Sayona Mining Limited is an Australian company and the communication is authorized by its CEO in Brisbane, Australia.
- North America – The merged entity, Elevra Lithium, will focus on becoming a significant player in the North American lithium market.
- United States – Piedmont Lithium is based in the U.S. and involved in regulatory approvals with the U.S. Securities and Exchange Commission.
Industry
- Lithium Mining and Production – The article revolves around the merger of two companies within the lithium mining industry, highlighting the forthcoming establishment of Elevra Lithium.
- Corporate Governance – The announcement of the new board members for the merged entity underscores the importance of governance, leadership, and management in corporate transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sayona Mining Limited | Target Company | Company | An Australian mining company involved in the proposed merger to form Elevra Lithium. |
| Piedmont Lithium Inc. | Bidding Company | Company | An American lithium company proposing to merge with Sayona Mining to create Elevra Lithium. |
| Lucas Dow | Managing Director and CEO | Person | To lead Elevra Lithium as Managing Director and CEO, currently holds the same position at Sayona Mining. |
| Dawne Hickton | Chair Designate | Person | To be appointed Chair of the merged entity's board. |
| U.S. Securities and Exchange Commission | Regulatory Authority | Government | Involved in reviewing the regulatory documents related to the proposed transaction. |
| Andrew Barber | Director of Investor Relations | Person | Contact person for investor relations at Sayona Mining. |