Sayona Mining Ltd: Renounceable Entitlement Offer - Shortfall Notice
29.05.2018 | ABN Newswire
Brisbane - Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or "Company") advises that the $3.9 million one for twenty-two renounceable rights issue (Rights Issue) as announced on 4 May 2018 closed on 24 May 2018.Applications were received under the Rights Issue for a total of 22,484,154 fully paid ordinary shares for a total subscription amount received of $1,146,692. This comprises 20,452,943 entitlement shares and 2,031,211 additionally subscribed shares.
Pursuant to the ASX Listing Rules, the Company gives notice of a shortfall in subscriptions of 54,474,889 shares (Shortfall Shares).
Under the terms of the Rights Issue, the Company has the right to place any or all of the remaining Shortfall Shares within three months after the Closing Date (i.e. by 24 August 2018) on the same terms as the Rights Issue.
The Company will issue and allot all New Shares and Options on Thursday 31 May 2018.
About Sayona Mining Ltd:
Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) is an Australian-based, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. Sayona's primary objective is developing the Authier lithium project in Quebec, Canada. Authier is an advanced, development project, construction forecast to commence in early 2019 and first concentrate production in early 2020. Please visit us as at www.sayonamining.com.au
Contact:
Sayona Mining Ltd.
Paul Crawford Company Secretary
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au