Piedmont Lithium sells its shares in Savona Mining

Piedmont Lithium announced the sale of the shares it held in Sayona Mining. The Company has agreed to sell 1,152.2 million shares of Sayona for A$0.052 per share through a secondary block sale via Canaccord Genuity. The sale price represents a premium to the 20-day volume weighted average price and will result in gross proceeds of approximately A$59.9M, or $39.4M for Piedmont. Following the transaction and some smaller recent public market share sales, Piedmont will no longer hold any shares of Sayona. The sale of these shares has no impact on Piedmont’s joint venture or offtake position with Sayona Quebec. The decision to divest the Sayona shares aligns with Piedmont’s commitment to maintaining a prudent balance sheet while simultaneously minimizing dilution of Piedmont’s shareholders.