- Sigma Lithium (SGMA) increases previously announced private placement by 40 per cent to C$42.0 million and increases offering price by 10 per cent to C$4.40
- Sigma intends to issue over 9.5 million common shares (compared with 7.5 million common shares previously announced)
- The planned use of proceeds of the offering are outlined in Sigma’s news release dated February 2, 2021
- In connection with the offering, Sigma has entered into an agreement with the A10 Group to provide services in respect of the offering, and A10 Group will be entitled to finder’s compensation for purchases by subscribers it introduces as described above
- Sigma is a Canadian company that has been producing environmentally sustainable battery-grade lithium concentrate on a pilot scale since 2018
- Sigma Lithium (SGMA) is up 4.44 per cent and is trading at C$4.70 per share at 12:53 pm EST
Sigma Lithium (SGMA) increases previously announced private placement by 40 per cent to C$42.0 million and increases offering price by 10 per cent to C$4.40.
Sigma was strongly supported by its current and new investors closely aligned in purpose with Sigma’s commitment to an ESG-centric strategy, resulting in significant oversubscription levels in the Offering.Sigma intends to issue over 9.5 million common shares (compared with 7.5 million common shares previously announced).
This will be a 10 per cent higher offering price of C$4.40 per share (compared with C$4.00 per share previously announced) for gross proceeds of up to C$42.0 million.
The offering book comprises institutional investors, including leading global asset managers focused on ESG & sustainability.
The investors are closely aligned in purpose with Sigma’s commitment to an ESG-centric strategy to develop its Grota do Cirilo lithium project in Brazil.
The planned use of proceeds of the offering is as outlined in Sigma’s news release dated February 2, 2021.
XP Investments US LLC, Cormark Securities Inc. and National Bank Financial Inc. acted as financial advisors to Sigma and may receive finder’s compensation regarding certain orders.
In connection with the offering, Sigma has entered into an agreement with the A10 Group to provide services in respect of the offering, and A10 Group will be entitled to finder’s compensation for purchases by subscribers it introduces as described above.
Certain principals of the A10 Group are directors, officers or indirect significant shareholders of the Sigma.
Sigma is a Canadian company that has been producing environmentally sustainable battery-grade lithium concentrate on a pilot scale since 2018.
Sigma has shipped high-purity “green & sustainable” 6 per cent Li2O battery-grade lithium concentrate samples to some of the leading global cathode and battery producers of electric vehicles.
Sigma Lithium (SGMA) is up 4.44 per cent and is trading at C$4.70 per share at 12:53 pm EST.
