Piedmont Lithium to Launch $1.5M-Share Public Offering
Mar. 21, 2022 4:15 PM ETPiedmont Lithium Inc. (PLL)By: Carl Surran, SA News Editor15 Comments
Piedmont Lithium (NASDAQ:PLL) says it plans to commence a public offering of 1.5M common shares, with an underwriters option to purchase up to 225K additional shares; the stock is halted.
Piedmont says it plans to use the proceeds to fund its share of the capital required to restart operations at North American Lithium in Quebec, to fund exploration and definitive feasibility studies at Eyowaa in Ghana, to advance the merchant lithium hydroxide plant in the southeast U.S., and to continue development of the Carolina Lithium Project.
The company also says proceeds may be used to fund possible strategic initiatives and for general corporate purposes.
Piedmont Lithium has said it expects to double its lithium hydroxide production in the U.S. to 60K tons/year in 2022.