Ann: Bid Deadline Extended for North American Lithium, page-2

BID DEADLINE EXTENDED FOR NORTH AMERICAN LITHIUMHighlights• Administrator extends bid deadline for North American Lithium (NAL) to 2pm (Montreal time) 21 February 2020 from previous 21 January deadline• Sayona confident of successful bid based on world‐class bid support team and advantage of combining NAL with Authier Lithium Project to achieve a sustainable and profitable operation.Emerging lithium miner Sayona Mining Limited (ASX: SYA) announced today the bid deadline for North American Lithium (NAL) has been extended by the administrator to no later than 2pm (Montreal time), 21 February 2020, compared to the previous 21 January deadline.The extension by administrator Raymond Chabot Inc. is based on the court‐approved sale procedures for NAL, which has a lithium mine and concentrator located in Abitibi, Québec.Sayona has assembled a world‐class team to support its bid for NAL, with Sayona’s team encompassing the necessary operational and technical expertise together with environmental, engineering and financial know‐how to ensure a successful turnaround (refer ASX release 7 November 2019).Importantly, Sayona’s bid has the unique advantage of being able to combine lithium produced from the Company’s nearby Authier Lithium Project with the lithium at the NAL site, facilitating a significant improvement in plant performance and economics.Sayona’s Managing Director, Brett Lynch, said the bid extension would allow for further engagement with key stakeholders as the Company advances its turnaround strategy.“Recent talks have been highly encouraging as we continue to outline the benefits of our strategy for NAL. We look forward to continuing our close engagement with key parties over the month ahead and delivering a bid that ensures a successful turnaround at the mine,” Mr Lynch said.