Thomson Geer advises Piedmont Lithium on A$850 million merger with Sayona Mining

Thomson Geer is advising lithium miner Piedmont Lithium Inc on an A$850 million merger with fellow lithium miner Sayona Mining Ltd to create the largest hard-rock lithium producer in North America.

Piedmont, dual listed on the ASX and NASDAQ, has lithium projects in the United States and partnerships in Canada, Ghana and West Africa, while Sayona, listed on the ASX, has projects in Canada and Australia. The companies are partners in lithium operation the North American Lithium project in Quebec, Canada.

The all-scrip merger aims to simplify corporate structures and share synergies and organisation expertise.

Both firms also conducted capital raisings as part of the merger to raise A$80 million, with Sayona raising an additional A$69 million.

Thomson Geer advised Piedmont on both the merger and capital raising.

The team was led by Partner Michael Ng who said: "This was a complex, cross-border deal that creates a leading North American hard rock lithium producer. We deployed our significant experience advising on deals with an international scope to help bring the merger and capital raising together."  

The team assisted Piedmont with the transaction documentation for the merger and capital raisings and associated Australian regulatory matters. They also worked closely with Piedmont's US counsel and financial advisors to advise on the structure and complexities of the various legal requirements, including advising on the ASX and ASIC regulatory and shareholder approval requirements to give effect to the cross-border transaction, as well as assisting with the underwritten capital raising in connection with the merger.

The merger is due to be completed early 2025.

Michael was supported by Senior Associate Christopher Seotis and Lawyer Ariane Moir.

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