Sigma Lithium Upsizes Private Placement of Common Shares by One-Third to US$13.3 Million Due to Strong Institutional Investor...
31 Juillet 2020 - 7:11PM
Sigma Lithium Resources Corporation (“Sigma” or
the
“Company”) (TSXV: SGMA) (OTC- QB: SGMLF) is
pleased to announce that, owing to strong global institutional
investor interest, it has increased the size of its non-brokered
private placement of common shares by one-third (approximately
33%). The Company now intends to issue up to 8,285,700 common
shares (the “
Common Shares”) at a price of C$2.15
per Common Share for gross proceeds of approximately US$13.3
million (equivalent to approximately C$17.8 million) (the
“
Offering”).
The Offering book is comprised, in its majority,
by leading global institutional investors. Other participants
include mainly large global family offices. The investors in the
Offering have a strong focus on ESG and sustainability, therefore
closely aligned in purpose with Sigma’s commitment to an
ESG-centric strategy for the development of the Grota do Cirilo
lithium project in Brazil (the
“Project”).
The size of the Offering is in line with the
equity funding requirement for the Project’s construction outlined
in the June 29, 2020 press release “Sigma Announces US$45 million
Project Finance Facility with Société Générale”. Please refer
to the July 27, 2020 press release “Sigma Lithium Announces a US$10
million Private Placement of Common Shares at C$2.15”.
The closing of the Offering is subject to
certain conditions, including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange (the “TSXV”). Cormark Securities
Inc. and National Bank Financial Inc. acted as financial advisors
to the Company and may receive a finder’s fee in respect of certain
orders. Other parties, including the A10 Group, shall also
receive a finder’s fee in connection with Offering.
The Common Shares have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
ABOUT SIGMA LITHIUM
Sigma is a Canadian company producing
environmentally sustainable battery-grade lithium concentrate,
which it has done on a pilot scale since 2018, shipping
high-quality above 6% Li2O coarse lithium concentrate samples to
potential customers in Asia. Based on the technical report titled
“Grota do Cirilo Lithium Project, Araçuaí and Itinga Regions, Minas
Gerais, Brazil, National Instrument 43-101 Technical Report on
Feasibility Study Final Report”, dated October 18, 2019 and with an
effective date of September 16th, 2019, a larger-scale lithium
concentration commercial production plant will contemplate a
capacity of 220,000 tonnes annually of battery-grade low-cost
lithium concentrate and Sigma will be amongst the lowest-cost
producers of lithium concentrate globally.
To secure a leading position supplying the clean
mobility and green energy storage value chain, Sigma has adhered to
the highest standards of environmental practices in line with its
core values and mission since starting activities in 2012. Sigma’s
production process is 100% powered by hydroelectricity and the
Company utilizes state-of-the-art dry-stacking tailings management
and water-recirculation techniques in its beneficiation process.
Its corporate mission is to execute its strategy while embracing
strict Environmental Social and Governance (“ESG”)
principles, managed based on the United Nations’ sustainable
development goals (“UN-SDGs”). Sigma has adhered
to 14 out of the 17 UN-SDGs, including gender equality. Sigma’s
shareholders include some of the largest ESG-focused institutional
investors in the world.
FOR ADDITIONAL INFORMATION PLEASE
CONTACT
Sigma Lithium Resources Corporation,
www.sigmalithiumresources.comCompany Contact:Anna HartleyDirector
of Investor Relations+44 7866 458 093, anna.hartley@sigmaca.com
FORWARD-LOOKING STATEMENTS
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation including statements relating to the closing of the
Offering, Use of Proceeds and TSXV approval.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements. All statements that address future
plans, activities, events, or developments that the Company
believes, expects or anticipates will or may occur are
forward-looking information, including statements regarding the
potential development of resources and drilling plans which may or
may not occur. Forward-looking statements and information contained
herein are based on certain factors and assumptions regarding,
among other things, receipt of all necessary approvals to complete
the Offering, the market price of the Company's securities, metal
prices, exchange rates, taxation, the estimation, timing and amount
of future exploration and development, capital and operating costs,
the availability of financing, the receipt of regulatory approvals,
environmental risks, title disputes, litigation risks, failure of
plant, equipment or processes to operate as anticipated, accidents,
labour disputes, claims and limitations on insurance coverage and
other risks of the mining industry, changes in national and local
government regulation of mining operations, and regulations and
other matters including the COVID-19 pandemic. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. For more
information on the risks, uncertainties and assumptions that could
cause our actual results to differ from current expectations,
please refer to our public filings available at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Sigma Lithium (TSXV:SGMA)
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