Savannah Resources names new joint corporate broker

LONDON - Savannah Resources (LON:SAVS) Plc, the company developing the Barroso Lithium Project in Portugal, announced today the appointment of Canaccord Genuity Limited as its new Joint Corporate Broker. The appointment takes effect immediately as the company progresses with its lithium project, poised to supply materials for Europe’s burgeoning battery industry.

Canaccord Genuity will share the role of corporate broker with SP Angel Corporate Finance LLP, which also remains the company’s Nominated Adviser. This strategic move comes as Savannah Resources seeks to strengthen its position in the lithium market, particularly as Europe transitions towards more sustainable energy sources.

The Barroso Lithium Project, owned by Savannah Resources, is Europe’s largest known spodumene lithium deposit. Once operational, the project is expected to produce lithium for approximately half a million electric vehicle battery packs annually. This output aligns with the European Commission’s Critical Raw Material Act, which aims for at least 10% of Europe’s lithium to be produced domestically by 2030.

Savannah Resources is listed on the London Stock Exchange (LON:LSEG)’s Alternative Investment Market (AIM) with the ticker "SAV" and is focused on developing the Barroso Lithium Project responsibly. The company emphasizes minimizing environmental impact while maximizing socio-economic benefits for stakeholders.

The announcement contains regulatory information deemed inside information under the UK market abuse regulation, as incorporated into UK law following the European Union (Withdrawal) Act 2018.

This news is based on a press release statement from Savannah Resources and provides an update on the company’s corporate brokerage arrangements as it advances its lithium project in Portugal.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.