Sigma Lithium closes private placement
The company closed its gross proceeds of $136.7M
VANCOUVER — Sigma Lithium Corporation has closed its twice-upsized non-brokered private placement of common shares for aggregate gross proceeds of approximately $136.7 million.
The company stated that under this offering, the company issued from treasury a total of 11,634,137 common shares at a price of $11.75 per common share. Pursuant to the offering and the secondary transaction, funds and accounts managed by BlackRock made a total investment in the company of approximately $64.2 million.
The company stated that it expects to use the net proceeds of the offering, in its sole discretion to fully-fund the construction of its phase 1 production plant and mine as well as to further the development of phases two and three of its wholly owned Grota do Cirilo Project. Additionally, the company stated the proceeds will be used for its general corporate purposes.