Published: April 14, 2025 | Share This

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Piedmont Lithium and Sayona Mining Limited released an update in relation to the proposed merger between Piedmont and Sayona that will combine the two companies to create a leading lithium business.

Upon completion of the transaction and subject to Sayona shareholder approval, the name of the combined business will be changed to Elevra Lithium.

“I am honored to have been selected as chair-designate for Elevra Lithium, and we are pleased to announce the new board of directors for the merged company. The skills and experience of this remarkable group of people will be a significant factor in the future success of the combined business. I look forward to building a strong connection and leveraging our collective skills and experience to work with Elevra Lithium’s management team to devise, and deliver against, the strategy for what will become one of the world’s leading lithium companies,” said Elevra Lithium Chair designate Dawne Hickton.

“I would like to thank Michael Bless and Claude Demby for their outstanding contributions to Piedmont and Keith Phillips for his service as Piedmont’s CEO for the past eight years. I would also like to acknowledge Jeff Armstrong’s strong board leadership of Piedmont for the past four years and look forward to his continued guidance as an ongoing non-executive director of Elevra Lithium,” added Hickton.

“We are working closely on integration planning with our partners at Sayona, and I am excited about the new company that will emerge from this merger. I am very pleased with the strong and talented board that will lead the new combined business, combining highly relevant mining and operations experience with a strong emphasis on corporate governance under Dawne’s leadership,” said Keith Phillips, president and CEO of Piedmont Lithium.

Each of Piedmont and Sayona’s board of directors have now selected their respective nominees to the board of directors of Elevra Lithium to be effective at the closing of the transaction. The board of directors of Elevra Lithium will consist of four Piedmont nominees from Piedmont’s current board of directors (including the chair designate of Elevra Lithium) and four Sayona nominees from Sayona’s current board of directors (including the current managing director and CEO of Sayona).

Paul Crawford and Philip Lucas from Sayona’s board of directors and Michael Bless and Claude Demby from Piedmont’s board of directors will retire as directors upon closing of the transaction and will not join the board of directors of Elevra Lithium. Keith Phillips will retire as CEO and director of Piedmont and will become a strategic advisor to Elevra Lithium for a transition period following the close of the transaction.

Completion of the transaction is targeted to close in mid-2025 and remains subject to approval by Piedmont and Sayona shareholders and regulatory approvals.

Piedmont Lithium is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Its goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where they hold an economic interest. Their projects include Its wholly-owned Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining and in Ghana with Atlantic Lithium. These geographically diversified operations will enable Piedmont to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage.

Sayona Mining Limited is a North American lithium producer with projects in Québec, Canada and Western Australia. In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project and the Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium. Sayona also holds a 60 percent stake in the Moblan Lithium Project in northern Québec. In Western Australia, the company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium. Sayona is exploring for Hemi style gold targets in the world class Pilbara region, while its lithium projects include company-owned leases and those subject to a joint venture with Morella Corporation.

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