Sayona and Piedmont Merge to Form Lithium Powerhouse Elevra Lithium

• Merger completed with 50/50 equity split between Sayona and Piedmont shareholders
• New U.S. subsidiary merged into Piedmont, shares to trade on ASX and NASDAQ
• Board reshuffle includes new non-executive directors and chair designate Dawne Hickton
• Conditional placement and share consolidation scheduled post-merger
• Company to rebrand as Elevra Lithium with new ticker symbols ELV (ASX) and ELVR (NASDAQ)

Merger Completion Marks New Chapter

On 30 August 2025, Sayona Mining Limited officially completed its merger with Piedmont Lithium Inc., a move that reshapes the lithium mining landscape. This strategic union creates a combined entity with an equal equity split between Sayona shareholders and Piedmont stockholders, signaling a balanced partnership designed to leverage the strengths of both companies.

The merger involved the integration of a newly formed U.S. subsidiary of Sayona into Piedmont, with share exchanges structured to ensure seamless transition for investors. Piedmont holders will receive Sayona shares or American Depositary Shares (ADSs) at specified ratios, enabling continued trading on both the Australian Securities Exchange (ASX) and the NASDAQ, under the tickers ELV and ELVR respectively once the rebranding is approved.

Governance and Leadership Evolution

Alongside the merger, Sayona’s board has undergone significant changes. Dawne Hickton has been appointed as a non-executive director and chair designate, bringing seasoned leadership to the newly combined company. Additional appointments include Christina Alvord, Jeff Armstrong, and Jorge M. Beristain as non-executive directors, while James Brown transitions from an executive to a non-executive role. Meanwhile, Paul Crawford and Philip Lucas have resigned, marking a clear shift in governance aligned with the company’s new strategic direction.

CEO Lucas Dow remains at the helm, emphasizing the merger’s role in creating a globally significant lithium company poised to lead in the energy transition. His remarks highlight the merger’s intent not just as a consolidation of assets but as a catalyst for unlocking synergies and delivering long-term shareholder value.

Post-Merger Capital and Share Structure Moves

Following the merger, Sayona plans a conditional placement of shares and options to Resource Capital Fund VIII L.P., scheduled for early September 2025. This capital raise is expected to support the company’s growth initiatives and integration efforts. Additionally, a share consolidation will reduce the number of Sayona shares on issue by a factor of 150 to 1, simplifying the capital structure and adjusting the ADS ratio accordingly.

These moves are designed to streamline the company’s equity base and enhance liquidity, preparing Elevra Lithium for its next phase of development and market engagement.

Strategic Implications for the Lithium Sector

The merger positions Elevra Lithium as a more formidable player in the lithium market, a critical component in the global shift towards electric vehicles and renewable energy storage. By combining complementary assets and expertise, the company aims to capitalize on growing demand and improve operational efficiencies.

However, as with any major integration, risks remain around realizing projected synergies and managing the complexities of cross-border operations. Investors will be watching closely how Elevra Lithium navigates these challenges while pursuing its ambitious growth strategy.

Bottom Line?

Elevra Lithium’s emergence signals a new force in lithium mining, but the market will be watching its integration and execution closely.

Questions in the middle?

• How quickly will Elevra Lithium realize the anticipated operational synergies?
• What impact will the share consolidation have on liquidity and investor sentiment?
• How will the new board composition influence strategic priorities and risk management?