Piedmont Lithium Inc., supplier of lithium essential to the U.S. electric vehicle (EV) supply chain, and Sayona Mining Limited have provided an update on their proposed merger, originally announced on November 19, 2024. This strategic transaction will combine both companies’ strengths to create a top-tier, globally significant lithium business.
Introducing Elevra Lithium
Upon completion of the merger—and pending Sayona shareholder approval—the newly combined company will operate under the name Elevra Lithium. The name reflects a shared vision for innovation and leadership in the lithium industry. The company will unveil further details regarding the brand identity, including the logo and design, closer to the deal’s closing date.
New Leadership for a New Era
The Boards of Directors from both Piedmont and Sayona have finalized their nominees for the Elevra Lithium Board, which will become effective upon completion of the transaction. Each company will appoint four members to the board, creating a balanced and experienced leadership team.
Board of Directors – Elevra Lithium
Piedmont Nominees:
- Dawne Hickton – Chair (designate)
- Christina Alvord
- Jeff Armstrong
- Jorge M. Beristain
Sayona Nominees:
- Lucas Dow – Managing Director and CEO
- James Brown
- Allan Buckler
- Laurie Lefcourt
As part of the transition, Paul Crawford and Philip Lucas (Sayona), along with Michael Bless and Claude Demby (Piedmont), will retire from their current board roles and will not join Elevra Lithium’s Board.
In addition, Keith Phillips, CEO and Director of Piedmont, will step down from his role following the transaction’s completion. He will continue to contribute as a Strategic Advisor to Elevra Lithium during the transition period.
Comments from Leadership
Dawne Hickton, Chair designate of Elevra Lithium, said, “I am honored to be selected as Chair-designate for Elevra Lithium. The newly announced Board brings together a wealth of expertise and leadership. Together, we will drive the strategy and growth of one of the world’s most important lithium businesses. I extend my sincere thanks to Michael Bless, Claude Demby, and Keith Phillips for their tremendous service and leadership, as well as to Jeff Armstrong, whose guidance will continue on the Elevra Board.”
Keith Phillips, President and CEO of Piedmont Lithium, added, “We are making strong progress on integration planning with our colleagues at Sayona. I am confident Elevra Lithium will emerge as a powerhouse in the lithium sector. With Dawne at the helm and a highly capable Board in place, the company is well-positioned to execute its strategic vision.”
Next Steps and Timeline
Piedmont and Sayona expect to close the transaction by mid-2025, pending shareholder approvals and customary regulatory and closing conditions. As per the press release, a detailed disclosure document will be sent to Piedmont shareholders and filed with the U.S. Securities and Exchange Commission in the first half of 2025.
