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Update on Regulatory Approvals and Reverse Stock Split for Merger With Sayona Mining

1. Piedmont Lithium and Sayona Mining propose a merger to form Elevra Lit. 2. The merger targets growth in the North American lithium supply chain.

M&A
+24.62%Current Return
VS
+2.13%S&P 500
$7.1504/23 04:19 PM EDTEvent Start
$8.9104/24 10:48 PM EDTLatest Updated
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FAQ

Why Bullish?

The merger indicates strategic growth potential in a booming lithium market. Previous mergers in energy sectors often led to heightened stock performance due to synergies and market expansion.

How important is it?

This merger reflects a significant step in consolidating lithium resources, crucial for electric vehicle production, which aligns with industry trends boosting investor interest.

Why Long Term?

The merger's success and integration may take time, influencing price positively over the longer term, similar to trends seen in other successful energy-sector mergers.

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BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc. (“Piedmont,” “the Company,” “we,” “our,” or “us”) (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, and Sayona Mining Limited (“Sayona”) provide an update in relation to the proposed merger between Piedmont and Sayona announced on November 19, 2024 (the “Transaction”) that will combine the two companies to create a leading lithium business to be named Elevra Lit.

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