I have to be honest I am still a little surprised that Piedmont has not been mentioned at all in either announcement by Sayona or Jourdan as NAL is part of the 75/25 JV?
Jourdan's announcement:
TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) --JOURDAN RESOURCES INC.(TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“Jourdan”, “JourdanResources”, or the “Company“) is pleased to announce that it has signed an earn-in agreement and joint venture agreement (the “Agreement”) with Sayona Mining Limited’s (ASX: SYA; OTCQB: SYAXF) (“Sayona”) subsidiary, North American Lithium Inc., in relation to the Company’s Vallée lithium project. The Company is also pleased to announce that Sayona’s subsidiary, Sayona Québec Inc., has entered into an agreement with the Company to acquire 27,000,000 common shares of the Company (the “Common Shares”), representing approximately 9.9865% of the issued and outstanding Common Shares (on a post-closing basis), at a price of $0.0556 per Common Share for gross proceeds of $1,501,200 (the “Private Placement”). The Private Placement is expected to close within two (2) business days. Upon closing of the Private Placement, Sayona will have the right to nominate one director to the Company’s board of directors. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four-months and one day. Completion of the Private Placement is subject to a number of conditions, including without limitation, receipt of TSX Venture Exchange approval. No finder’s fees will be paid in connection with the Private Placement. The Company intends to use the net proceeds of the Private Placement for working capital and general corporate purposes.
Not a single mention of Piedmont (PLL), why is this? Surely it should say 'Sayona Mining and Piedmont Lithium's' subsidiary? I'm not making any suggestions here to be clear, I simply don't understand why Piedmont's been cut out of any mentions in all of this?
Odd that NAL is the joint venture partner rather than SYAQ, however the 9.9% equity stake is to SYAQ? Interesting and complex structuring, again, any ideas for the reasoning of this word be appreciated.
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