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Sigma Lithium Announces a US$10 million Private Placement of Common Shares at C$2.15
VANCOUVER, British Columbia, July 27, 2020 (GLOBE NEWSWIRE) -- SIGMA Lithium Resources Corporation (“Sigma” or the “Company”) (TSXV: SGMA) (OTC- QB: SGMLF) is p
About this update from Sigma Lithium Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, July 27, 2020 (GLOBE NEWSWIRE) -- SIGMA Lithium Resources Corporation (“Sigma” or the “Company”) (TSXV: SGMA) (OTC- QB: SGMLF) is pleased to announce that it intends to complete a non-brokered private placement of 6,216,279 common shares of the Company (the “Common Shares”) to be issued at a price of C$2.15 per Common Share for aggregate gross proceeds of US$10 million (approximately C$13.4 million) (the “Offering”). Long-standing strategic investors in the non-brokered book include leading investors focused on ESG & sustainable investments globally. Closing of the Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “TSXV”). Cormark Securities Inc. and National Bank Financial Inc. acted as financial advisors to the Company and may receive a finder’s fee in respect of certain orders. Other parties, including the A10 Group, shall also receive a finder’s fee in connection with Offering. The Company intends to use the net proceeds of the Offering for the engineering, procurement and construction of the Grota do Cirilo lithium project in Brazil (the “Project”), and for general corporate purposes. Please refer to the press release “Sigma Announces US$45 Million Project Finance Facility with Societe Generale” announced on June 29, 2020 and the press release “Sigma Announces the Signing of an Engineering Contract with Duro Felguera and a Letter of Intent from Spanish Export Credit Agency to Provide Financing” announced on July 21, 2020. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. ABOUT SIGMA LITHIUM Sigma is a Canadian company producing environmentally sustainable battery-grade lithium concentrate, which it has done on a pilot scale since 2018, shipping high-quality above 6% Li2O coarse lithium concentrate samples to potential custom...