Bacanora Lithium PLC Reminder regarding Share Transfer Deadline (0566J)

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RNS Number : 0566J

Bacanora Lithium PLC

18 December 2020

18 December 2020

Bacanora Lithium plc

("Bacanora" or the "Company")

Reminder regarding Share Transfer Deadline

Bacanora Lithium plc (AIM: BCN), a lithium development company, would like to remind former shareholders of Bacanora Minerals Ltd ("BML") of the deadline of 23 March 2021 to exchange their old shares in Bacanora Minerals Ltd for new shares in Bacanora Lithium Plc. As notified in the circular sent to shareholders on 19 February 2018, all BML shareholders were required to complete a Letter of Transmittal in order to exchange their BML shares for new shares in the Company as part of the redomicile process.

A number of BML shareholders have not yet completed their letters and new shares in the Company which would have been issued to them have been held in a Trust. This Trust will expire on 23 March 2021, after which any remaining shares may be sold by the Company in accordance with the Company's Articles of Association.

Those affected Shareholders who wish to receive the new shares in the Company that are currently held on trust for them are advised to complete and return a Letter of Transmittal as soon as possible. The Letter of Transmittal can be found on the Company's website under the AIM Rule 26 page at https://www.bacanoralithium.com/investor-relations/restricted-aim-rule-26/ . Once completed and signed in accordance with the instructions thereon, it should be returned to the Company's registrars at Link Asset Services, Proxy Team, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU.

The Company will also be writing to each shareholder individually at the address listed on the register to remind them of the deadline. If any affected shareholder has any questions, they can contact [e-mail].

ENDS

For further information please visit www.bacanoralithium.com or contact:

 
 Bacanora Lithium plc               [e-mail] 
  Peter Secker, CEO 
  Janet Blas, CFO 
 Cairn Financial Advisers LLP, 
  Nomad 
  Sandy Jamieson / Liam Murray      [phone] 
 Citigroup Global Markets, 
  Joint Broker 
  Tom Reid / Patrick Evans / 
  Matthew Kenney                    [phone] 
 Canaccord Genuity, Joint Broker 
  James Asensio / Thomas Diehl      [phone] 
 Tavistock, Financial PR Adviser    [e-mail] 
  Jos Simson / Emily Moss /          [phone] 
  Oliver Lamb                        [phone] 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

Notes to editors

Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li(2) CO(3) ) equivalent resources, with an approximate 250-year resource life, as detailed in its December 2017 Feasibility Study.

Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. On completion of this option exercise, SLL will be owned 50% by Bacanora and 50% by Ganfeng Lithium Co., Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.

Bacanora also owns 44.3% of Zinnwald Lithium Plc (AIM: ZNWD), which in turn owns a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in the UK, the United States, Mexico, Germany and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Important notice

The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.

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December 18, 2020 02:00 ET (07:00 GMT)