Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it plans to list Sigma Brazil on both the NASDAQ and Singapore Stock Exchange.
The leading Brazil-focused lithium production company updated shareholders on key developments in a comprehensive update on its ongoing strategic review process.
In a bid to maintain optimal structural flexibility and bolster competitiveness, Sigma Brazil is set to initiate the requisite procedures for a primary listing on both the NASDAQ and the Singapore Stock Exchange.
The dual listing strategy is strategically aligned to maximize shareholder value, Sigma told investors, especially if the strategic review culminates in a scenario solely involving Sigma Brazil.
The firm said it is presently engaged in advanced contractual negotiations with the finalists identified during its Strategic Review Process. These negotiations are set to extend into the coming year.
The Board said in a statement that it does not foresee any interference arising from the listing processes with the ongoing conclusion of the strategic review.
Sigma Lithium has garnered significant interest from key players in the global battery materials and electric vehicle industries. The strategic process has facilitated direct engagement with top-tier executives and board members from industry consortiums, solidifying relationships with global leaders.
Brazil's lithium industry is attaining global prominence with investments from companies across the world. The decision to list Sigma Brazil on the Singapore Stock Exchange is aimed at fostering equitable negotiations, Sigma said.
Despite prevailing challenges in the lithium market, Sigma Lithium, as a fully operational producer, is strategically positioned to evaluate alternatives from a standpoint of maximum flexibility.
Simultaneously with the strategic review, Sigma Lithium is prioritizing the expansion of its production capacity, reinforcing its status as one of the largest and most cost-effective producers in the industry.
"We are delighted with the overwhelming interest in our business from some of the most admired companies in the battery materials and electric vehicles industries globally, including automakers and battery manufacturer,” CEO Ana Cabral said in a statement.
“We are also honored with the direct engagement of C-level executives and board members from the consortiums with our leadership during this strategic process, significantly strengthening our relationships with global leaders and key decision makers of our industry."
Sigma Lithium is a leading global lithium producer specializing in environmentally sustainable, socially responsible chemical-grade lithium concentrate for electric vehicle batteries.
Currently producing Triple Zero Green Lithium at its Grota do Cirilo project in Brazil, the company's state-of-the-art Greentech lithium plant utilizes 100% renewable energy, recycled water, and dry-stacked tailings, aiming to produce 270,000 tonnes annually in Phase 1, with potential expansion to 766,000 tonnes annually in Phases 2 & 3 pending completion of a feasibility study.