Piedmont expands lithium assets with NAL acquisition

• Superior Court of Québec approves Sayona Québec’s acquisition of North American Lithium (“NAL”)
• Total cash consideration of approximately C$94mm with transaction completion expected in Q3 2021
• Piedmont will fund approximately C$23.5mm, representing its 25% stake in Sayona Québec
• Detailed study of the integration of NAL with Sayona Québec’s Authier Project to commence in the coming weeks
• Sayona and Piedmont jointly committed to development of lithium hydroxide capactity in Québec

Comments from CEO Keith Phillips:

“We are very pleased to be working with our partners at Sayona to consolidate the spodumene resources in the Abitibi region of Québec.  NAL is a past-producing business with a large, high-grade mineral resource located in close proximity to Sayona’s Authier project and to the important mining center of Val-d’Or, Québec.  We will work closely with Sayona to refine the plans to unify the Authier and NAL spodumene operations, and we are both committed to building integrated spodumene to lithium hydroxide capacity in Québec.  Piedmont strongly believes that ‘location and regionalization of the battery supply chain matters,’ and the combined Québec operations will be well-positioned to serve the fast-growing North American electric vehicle business.  The Québec operations are an ideal complement to our flagship Carolina Lithium Project in Gaston County, NC, and further Piedmont’s objective of being North America’s leading lithium hydroxide producer.”

To learn more, click here.

For further information, contact:

Keith D. Phillips | President & CEO                            
T: +1 973 809 0505
E: [email protected]

Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: [email protected]