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Mining company raises capital for Canadian acquisition

Mining company raises capital for Canadian acquisition

mining

A boutique Queensland firm has advised Sayona Mining on its equity raising to fund its acquisition of the Canadian Authier lithium project.

Firm: GRT Lawyers (Sayona Mining Limited)

Deal: Sayona Mining raised $7.1 million through a fully underwritten accelerated non-renounceable right issue.

Value: $7.1 million

Area: Equity capital markets

Key players: The GRT Lawyers team included managing director Glenn Vassallo.

Deal significance: ASX-listed resource company Sayona Mining Limited made a fully underwritten accelerated non-renounceable right issue.

The $7.1 million raised will be used to complete its acquisition of the Canadian Authier lithium project, conduct further feasibility of the Authier lithium project and meet other working capital requirements.

Glenn Vassallo, managing director of GRT Lawyers, said the transaction was complex and involved expertise across Australia’s equity capital markets, and high-quality expertise from a Canadian perspective.

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