Piedmont Lithium completes merger with Sayona Mining to form Elevra

Piedmont Lithium Inc. (NASDAQ: PLL) announced the completion of its merger with Sayona Mining Limited (NASDAQ: ELVR), creating a combined company named Elevra Lithium. The transaction received approval from shareholders of both companies and satisfied all closing conditions.

Under the merger terms, Piedmont shareholders will receive 0.35133 American Depositary Shares representing 527 Sayona ordinary shares for each Piedmont share held. Holders of Piedmont Chess Depositary Interests will receive 5.27 Sayona ordinary shares for each CDI held. Fractional shares will be rounded up to the nearest whole share.

Piedmont's common stock and Chess Depositary Interests will be delisted from the NASDAQ and Australian Securities Exchange following the merger completion. The combined entity brings together what the companies describe as complementary assets in the lithium sector.

"This is a transformative milestone for our shareholders, employees, and partners," said Keith Phillips, President and Chief Executive Officer of Piedmont Lithium. "The combination with Sayona significantly strengthens our global footprint, enhances scale, and positions us to be a leading supplier of lithium resources to the growing EV and stationary storage supply chains."

Piedmont operates lithium projects including its Carolina Lithium project in the United States and partnerships in Quebec and Ghana. The company has focused on developing integrated lithium operations to support North American supply chains for electric vehicles and energy storage.

The merger creates what the companies characterize as one of the largest hard-rock lithium platforms, combining Piedmont's North American operations with Sayona's existing portfolio of development-stage projects.

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