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Street TalkSayona Mining raising $115.5 millionAnthony Macdonald, Yolanda Redrup and Kanika SoodSep 30, 2021 – 11.35amSaveShareEmerging lithium producer Sayona Mining is raising $115.5 million via a placement and rights issue, which will fund its Moblan acquisition and the redevelopment of North American Lithium.The offer is priced at 14.5¢ per share, representing a 17.1 per cent discount to its last trading price.Canaccord Genuity’s local and US team have been appointed as joint lead manager and will be supported by Desjardins Capital Markets and Jett Capital Advisors, who are acting as co-managers.The brokers will manage the $95 million placement portion of the capital raise. Bids into the raise are due by 5pm on Thursday.Sayona, which in July raised $45 million to help it acquire North American Lithium, has surged in the year-to-date, with its shares up more than 1600 per cent and the business now valued at more than $1 billion.It also holds interests in the West Australian Lithium Project in the Pilbara region and the Authier Lithium Project in Quebec.It is now acquiring a 60 per cent stake in Moblan from Guo-Ao Lithium, further expanding its Quebec assets.Moblan is located in established mining jurisdiction of Eeyou-Istchee James Bay, and it is host to high-grade spodumene mineralisation.