Sayona raises C$50 million to advance lithium projects in Quebec

- Lithium developer Sayona Mining announced today it has entered into a subscription agreement with PearTree Securities for the issuance of 174,459,177 shares at a price of A$0.315 per share for aggregate gross proceeds of A$54.9 million using the FTS provisions under Canadian tax law.

Sayona said the funding will help advance exploration efforts while the company continues to progress the restart of its North American Lithium operation, together with Sayona's other growth projects in Quebec, including its emerging northern lithium hub. Managing Director Brett Lynch commented,"Sayona has made significant progress in developing the leading hard rock lithium resource base in North America, with the pending restart of production at NAL set to mark our progression from explorer to producer.

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