Sigma Lithium Corporation said it intends to complete a non-brokered private placement to raise about C$60 million.
Under the scheme, the company said it will offer about 5,106,383 common shares at C$11.75 each.
The company said it expects to use the net proceeds for the construction and development of its wholly owned Grota do Cirilo project and for general corporate purposes.
READ: Sigma Lithium kicks off production plant construction at its Grota do Cirilo project in Brazil
Sigma said leading global investors (LPs), focused on ESG & sustainability, are expected to comprise the majority of the investors in the offering.
The company said it has entered into an agreement with the A10 Group to provide services in respect of the offering, and A10 Group will be entitled to finder’s compensation for purchases by subscribers it introduces. Certain principals of the A10 Group are directors, officers, or indirect significant shareholders of the company.
The offering is scheduled to close on or about December 16, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX and the securities regulatory authorities.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham