Baker Botts L.L.P., McCarthy Tétrault, Herbert Smith Freehills Kramer (HSF Kramer), Gibson Dunn, Thomson Geer, and Bennett Jones advised Sayona Mining Limited and Piedmont Lithium Inc. on their all-stock merger, resulting in Sayona being the ultimate parent entity of the dual-listed merged company, later named Elevra Lithium Limited. Sayona Mining is an emerging lithium producer based in Australia, with operations in Quebec and Australia.
The Transaction will result in an approximately 50% / 50% equity holding of shareholders of Sayona and Piedmont (on a fully diluted basis) immediately following the closing of the Transaction. Completion of the Transaction is subject to shareholder approval for both companies and is expected to close in the first half of calendar year 2025. As part of the Transaction, the parties intend to raise equity capital aggregating to approximately A$149 million.
Baker Botts L.L.P. acted as legal counsel to Sayona. The Baker Botts Corporate team included Partner Avner Bengera, Partner Jamie Yarbrough, Associate Nikolai Gryzunov, Associate Michael Mazidi, and Senior Associate Marshall B. Heins II. The Employee Benefits team comprised Partner Robin Melman and Associate Jared DaCosta. The Tax team was led by Partner Jon Lobb and included Senior Associate Katie McEvilly. The Antitrust team was led by Special Counsel Michael Bodosky. The International Trade & Compliance team included Partner Paul Luther and Associate Alexander Reinert. The Environmental team was led by Special Counsel Elizabeth Singleton.
McCarthy Tétrault acted as Canadian counsel to Sayona in connection with the Transaction with a team led by Louis-Nicolas Boulanger that included Charles-Antoine Soulière, Konstantin Sobolevski, Charles-Étienne Pressé, Kevin Gao, Yassine Khadir (Corporate), Dominic Thérien (Competition), Kelleher Lynch (Pensions and Benefits) and Jeremy Ho (Tax) .
The HSF Kramer team acted as cross-border public M&A and ECM counsel to Sayona, Sayona, led by Nicole Pedler with Executive Counsel Charlotte Cameron and Solicitors Josephine Fenn, Ben Hansen, and Isabelle Holthouse.
Gibson Dunn, Thomson Geer, and Bennett Jones are acting as legal counsel to Piedmont.
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