Sayona Mining (ASX:SYA) has completed its merger with Piedmont Lithium, creating a “stronger, globally significant lithium company”.
Late last year, both companies announced the merger to create a lithium business named Elevra Lithium, with the aim to become the largest lithium producer in North America.
Piedmont chess depositary instrument (CDI) holders will receive Sayona shares at the ratio of 5.27 ordinary shares for each CDI. Piedmont Nasdaq shareholders will receive 0.35133 Sayona shares for each Piedmont share held prior to completion.
Once the company name change has been approved, ASX-listed shares will then change ticker to ELV, which is anticipated to be completed in late September 2025.
CEO Lucas Dow says this marks a defining milestone in the company’s journey.
“This merger is not just about combining assets – it’s about unlocking synergies, strengthening our market position and delivering long-term value,” Dow says.
Piedmont Lithium CEO Keith Phillips says the merger strengthens Piedmont’s global footprint, enhances scale, and positions the company to become a lithium resources supplier to the growing electric vehicle and stationary storage supply chains.
Piedmont Lithium is focused on developing a multi-asset integrated lithium business focused on enabling the transaction to a net zero word and creating a clean energy economy in North America.
Sayona Mining is an emerging supplier of lithium for North America’s electrification. The company has assembled a northern lithium hub across Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Sayona Mining
