Gold prices cool after hitting over 2-week high on Fed independence fears
Sayona Mining Ltd (ASX:SYA; OTCQB:SYAXF) announced Monday that shareholders of Piedmont Lithium Inc. have approved the proposed merger between the two companies. The approval was secured at Piedmont’s second adjourned special meeting held Friday, where approximately 97% of votes cast supported the merger.
According to a press release statement, the completion of the merger is scheduled for August 30, 2025, subject to satisfaction or waiver of remaining conditions. Following the merger, the issuance of conditional placement shares to Resource Capital Fund VIII L.P. and Tranche 1 options is expected to occur on September 4, 2025.
Sayona also provided an updated timetable for its planned share consolidation. The consolidation effective date is set for September 10, 2025, with the last day for trading in pre-consolidation shares on September 11. Trading in consolidated shares on a deferred settlement basis is scheduled to begin September 12, with the record date for the consolidation on September 15. Registration of post-consolidation shares will start on September 16, and new holding statements will be dispatched to shareholders on September 18.
The company noted that these revised timetables have been approved by the Australian Securities Exchange (ASX) and assume all other conditions precedent to the merger are satisfied or waived.
Sayona Mining’s Managing Director and CEO, Lucas Dow, stated, “The overwhelming shareholder support for our merger with Piedmont Lithium reflects a shared vision to create a leading, globally significant lithium company. Together, we are unlocking tremendous growth potential, strengthening our position in the global battery materials supply chain, and building long-term value for all stakeholders.”
This announcement is based on a press release statement filed with the U.S. Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.