Brisbane, Australia, May 7, 2020 - (ABN Newswire) - Sayona Mining Limited (ASX:SYA.AX - News) (HAM:DML.HM - News) (OTCMKTS:DMNXF - News) announced today it has undertaken an early redemption of 491,400 unlisted convertible notes (ASX:SYAAB) held by Obsidian Global GP, LLC. This represents all notes currently on issue.
Repayment of the notes was identified as a planned use of funds in the Prospectus prepared for the recent renounceable pro rata entitlement offer. The total redemption amount was US$594,594.
Details of the convertible note terms are outlined in Sayona's 10 January 2020 announcement to the ASX. The Company has no debt following repayment of the notes.
Sayona's Managing Director, Brett Lynch said: "Redemption of the convertible notes is part of the Company's capital management strategy aimed at enhancing shareholder value. Sayona thanks Obsidian Global for their support for the Company as we advance our expansion plans in Quebec and Western Australia."
About Sayona Mining Ltd:
Sayona Mining Limited (ASX:SYA.AX - News) (OTCMKTS:DMNXF - News) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.
Please visit us as at www.sayonamining.com.au
Phone: +61 (7) 3369 7058
Sayona Mining Ltd
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