Sigma Lithium Corporation, a leading lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, Triple Zero Green lithium concentrate is continuing its Strategic Review Process into the new year.
The Board of Directors (“Board”) remains encouraged by the direction of negotiations between Sigma Lithium and the finalists in the Process. These parties are committed to the Process and are actively engaged in drafting contractual documentation.
As part of this Process, the Company is announcing its intention to initiate the procedures to list the shares of Sigma Brazil at both Nasdaq and Singapore Stock Exchange.
- The dual listing of Sigma Brazil is solely contemplated for the purpose of closing the strategic transaction, maximizing shareholder value.
- All shareholders, whether holding shares of Sigma Lithium or Sigma Brazil, would ultimately be taken out in the event of an acquisition.
- Sigma Brazil selected a Nasdaq listing level equal to Sigma Lithium’s existing listing, to continue to adhere to one of the highest levels of global corporate governance and transparency in the world.
- Sigma Lithium minority shareholder led composition of Board of Directors, should be mirrored at Sigma Brazil.
- The Board remains committed to maximizing value for all stakeholders, especially the communities at Vale do Jequitinhonha.
Ana Cabral, CEO commented: “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 manufacturers. 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.”
Lucas Melo, Chair of the Audit Committee complemented: “Brazil is building thriving and globalized lithium mining and materials industries: welcoming strategic partners from all over the world. The country’s lithium industry has already received investments from companies headquartered in China, the United States, Canada, Australia and the United Kingdom. The Singaporean listing of Sigma Brazil aims to maximize value for all shareholders of Sigma Lithium by leveling the playing field across negotiating parties.”
Cesar Chicayban, Lead Independent Board Member added: “As the Company is a completely ramped up producer, we can evaluate strategic alternatives from a position of maximum flexibility despite the current lithium cycle downturn. Sigma is one of the largest and lowest cost producers in the industry and reached Net Zero, achieving a key competitive advantage for the European Battery Passport. Therefore, Sigma Lithium in parallel to its strategic review, has been laser focused on consolidating its position as one of the majors by concluding the detailed engineering for its production capacity expansion plans.”