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Piedmont Announces Pricing of Public Offering of American Depositary Shares

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) todayannounced the pricing of an underwritten public offering of 2.0 million of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares (“Public Offering”), at a price per ADS to the public of $25.00, for aggregate gross proceeds of $50 million. Piedmont has granted the underwriters a 30-day option to purchase up to additional 300,000 ADSs at the issue price of the Public Offering. The Public Offering is expected to close on October 23, 2020, subject to customary closing conditions.

Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., are acting as joint book-runners for the Public Offering. Loop Capital Markets and Roth Capital Partners are acting as co-managers for the Public Offering.

Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A final prospectus supplement related to the offering of the ADSs will be filed with the SEC and made available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the final prospectus supplement, when available, and the accompanying prospectus relating to the Public Offering may be obtained from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at ecm.prospectus@evercore.com; Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (671) 371-3900 or email at prospectus@cgf.com; and ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone at (877) 436-3673 or e-mail at prospectus@think-equity.com.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the negative of these terms and similar expressions intended to identify forward-looking statements. Piedmont cautions readers that forward-looking statements are based on management’s expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to, risks related to whether the Company will close the offering of the ADSs on the expected terms, or at all; the anticipated use of the net proceeds of the offering; the fact that the Company’s management will have broad discretion in the use of the proceeds from any sale of the ADSs; the Company’s operations being further disrupted by, or the Company’s financial results being adversely affected by, the novel coronavirus pandemic; the Company’s limited operating history in the lithium industry; the Company’s status as an exploration stage company; the Company’s ability to identify lithium mineralization and achieve commercial lithium mining; mining, exploration and mine construction, if warranted, on the Company’s properties; the Company’s ability to achieve and maintain profitability and to develop positive cash flow from the Company’s mining activities; the Company’s ability to enter into and deliver product under supply agreements; investment risk and operational costs associated with the Company’s exploration activities; the Company’s ability to enter into and deliver product under supply agreements; the Company’s ability to access capital and the financial markets; recruiting, training and maintaining employees; possible defects in title of the Company’s properties; potential conflicts of interest of the Company’s directors and officers; compliance with government regulations; the Company’s ability to acquire necessary mining licenses, permits or access rights; environmental liabilities and reclamation costs; volatility in lithium prices or demand for lithium; the Company’s ADS price and trading volume volatility; risks relating to the development of an active trading market for the ADSs; ADS holders not having certain shareholder rights; ADS holders not receiving certain distributions; and the Company’s status as a foreign private issuer and emerging growth company. Forward-looking statements reflect its analysis only on their stated date, and Piedmont undertakes no obligation to update or revise these statements except as may be required by law.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com

Piedmont Announces Proposed U.S. Public Offering of American Depositary Shares

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) todayannounced that it plans to conduct a U.S. public offering, subject to market and other conditions, of 1.5 million of its American Depositary Shares (“ADSs”), with each ADS representing 100 of its ordinary shares (“Public Offering”).

Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., are acting as joint book-runners and lead underwriters for the Public Offering. Piedmont intends to grant the underwriters a 30-day option to purchase up to 225,000 additional ADSs at the issue price of the Public Offering.

Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering of the ADSs has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at ecm.prospectus@evercore.com; Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (671) 371-3900 or email at prospectus@cgf.com; and ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone at (877) 436-3673 or e-mail at prospectus@think-equity.com.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the negative of these terms and similar expressions intended to identify forward-looking statements. Piedmont cautions readers that forward-looking statements are based on management’s expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to, risks related to whether the Company will offer the ADSs or consummate the offering of the ADSs on the expected terms, or at all; the anticipated use of the net proceeds of the offering; the fact that the Company’s management will have broad discretion in the use of the proceeds from any sale of the ADSs; the Company’s operations being further disrupted by, or the Company’s financial results being adversely affected by, the novel coronavirus pandemic; the Company’s limited operating history in the lithium industry; the Company’s status as an exploration stage company; the Company’s ability to identify lithium mineralization and achieve commercial lithium mining; mining, exploration and mine construction, if warranted, on the Company’s properties; the Company’s ability to achieve and maintain profitability and to develop positive cash flow from the Company’s mining activities; the Company’s ability to enter into and deliver product under supply agreements; investment risk and operational costs associated with the Company’s exploration activities; the Company’s ability to enter into and deliver product under supply agreements; the Company’s ability to access capital and the financial markets; recruiting, training and maintaining employees; possible defects in title of the Company’s properties; potential conflicts of interest of the Company’s directors and officers; compliance with government regulations; the Company’s ability to acquire necessary mining licenses, permits or access rights; environmental liabilities and reclamation costs; volatility in lithium prices or demand for lithium; the Company’s ADS price and trading volume volatility; risks relating to the development of an active trading market for the ADSs; ADS holders not having certain shareholder rights; ADS holders not receiving certain distributions; and the Company’s status as a foreign private issuer and emerging growth company. Forward-looking statements reflect its analysis only on their stated date, and Piedmont undertakes no obligation to update or revise these statements except as may be required by law.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com

Piedmont Lithium Signs Sales Agreement With Tesla

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  • Piedmont enters into binding sales agreement to supply spodumene concentrate to Tesla
  • Five-year fixed-price binding agreement with optional five-year extension
  • Agreement confirms the strategic nature of Piedmont’s unique American spodumene deposit
  • Discussions are ongoing with respect to other lithium and by-product sales arrangements

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has entered into a binding agreement (“Agreement”) with Tesla, Inc. (“Tesla”) for the supply of spodumene concentrate (“SC6”) from Piedmont’s North Carolina deposit to Tesla.

The Agreement is for an initial five-year term on a fixed-price binding purchase commitment from the delivery of first product, and may be extended by mutual agreement for a second five-year term. The Agreement covers a fixed commitment representing approximately one-third of Piedmont’s planned SC6 production of 160,000 tonnes per annum for the initial five-year term as well as an additional quantity to be delivered at Tesla’s option. The SC6 sales are expected to generate between 10-20% of Piedmont’s total revenues from its proposed integrated mine-to-hydroxide project for the initial five-year term. The Agreement is conditional upon Tesla and Piedmont agreeing to a start date for spodumene concentrate deliveries between July 2022 and July 2023 based on the development schedules of both parties.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are excited to be working with Tesla, which represents the start of the first US domestic lithium supply chain and a disruption to the current value chain.  The Agreement highlights the strategic importance of Piedmont’s unique American spodumene deposit and confirms the trend toward spodumene as the preferred feedstock for the lithium hydroxide required in high-nickel batteries.

“We will now accelerate our mine/concentrator development to support Tesla’s plans, work to further expand our mineral resources, and potentially increase our planned annual spodumene concentrate production capacity.  We will simultaneously be advancing our plans to produce lithium hydroxide in North Carolina, using a combination of internally produced spodumene concentrate as well as material sourced from other producers around the world.”

Piedmont confirms that all material assumptions underpinning the results of its previously announced integrated scoping study (refer ASX announcement dated May 26, 2020) continue to apply and have not materially changed, including Benchmark Mineral Intelligence pricing and tonnes per annum assumptions.

To view the full ASX Announcement, click here.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


The 10 Best Payroll Services for Your Small Business

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Best Payroll Software for Small Businesses

This might lead to a clunky, less-streamlined tech stack for businesses that grow large enough to require a major all-in-one employee management system. Plus, Rippling takes either two or four days to deliver payments to your staff. Therefore, if you want to pay your staff in less time, we’d recommend opting for ADP or Paychex instead.

Best Payroll Software for Small Businesses

The software makes it easy to collect and share feedback in real time, so performance issues can be addressed quickly. It also offers features such as goal management, reviews, reminders and dynamic objectives. Best practices performance management templates from Paycor help you set goals, deliver performance reviews and give feedback that engages employees. You can also access performance data and analytics to identify trends and areas for improvement. Other features include team insights, coaching strategies based on employee ratings and one-on-one tools.

Payroll4Free: Best free payroll software

The cheapest, most budget-friendly software is SurePayroll, which has affordable self-service and full-service plans. We also recommend Paychex and ADP for more thorough HR management.OnPay http://region-news.info/the-10-best-resources-for-14/ is good for comprehensive-but-affordable payroll. ADP is an excellent small business payroll software with powerful reporting that allows you to automate reports for insightful analytics.

  • These are great options for small business owners who need to outsource or upgrade their HR departments.
  • Gusto also offers much more robust reporting and analytics when compared to SurePayroll by Paychex, which is more limited in this department.
  • Compared to other top providers, Paychex boasts the best payment controls, letting you manage your payroll processes to your precise needs.
  • If you operate in one of the 14 states in which Wave offers tax services, you will pay a higher base monthly rate to take advantage of these services.

Engagedly performance management software is a good choice for businesses that want to use third-party integrations to manage employee performance and connect performance data to other business systems. http://www.monnowvalleystudio.com/?s= These integrations include Google SSO, Okta, Personio, ADP Marketplace, Gusto, Slack, BizLibrary and Paylocity. Other features include performance reviews, goals, analytics and insights.

Patriot Payroll

She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and http://www.catsmob.com/video/797-lake-nakuru-republic-of-kenya.html information with full editorial independence. We use product data, strategic methodologies and expert insights to inform all of our content and guide you in making the best decisions for your business journey.

Piedmont Resumes Drilling to Further Increase Mineral Resources in the Carolina Tin-Spodumene Belt

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  • Drilling has commenced testing new target areas on the Company’s Core and Central properties
  • Drilling will also test previously identified regional drill targets in the prolific Tin-Spodumene Belt
  • Piedmont is focused on increasing its Mineral Resources and potential increased production of American sourced lithium

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce the Company has resumed drilling on its properties located within the world-class Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, USA. The drill program will consist of approximately 5,600 meters. The program’s primary objectives are to drill Exploration Target areas on the Core and Central properties, as well as previously untested occurrences of spodumene bearing pegmatite on regional properties (Figure 1).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200826005176/en/

Figure 1 - Piedmont Lithium Project Property Map Showing Mineral Resources, Exploration Targets and Proposed Drillholes (Photo: Business Wire)

Figure 1 – Piedmont Lithium Project Property Map Showing Mineral Resources, Exploration Targets and Proposed Drillholes (Photo: Business Wire)

Core Property

Approximately 50% of the total drill holes are allocated for the eastern portion of the Core property. These drill holes will test two Exploration Target areas previously identified (refer announcement dated June 24, 2019). The Company will additionally explore Area 5 (Figure 1), which is outcropping mineralization with assays up to 2.10% Li2O (refer announcement dated January 27, 2020). Several areas of low mineralization potential will also be tested to determine whether these areas offer additional Resource potential or are better suited for waste rock storage and or mine infrastructure.

Central Property

At the Central property, 5 drill holes are proposed to test the previous Exploration Target (refer announcement dated April 23, 2019), and will build on the Phase 4 drilling results reported in our announcement dated January 27, 2020. Two holes are designed to test to the south and downdip of the intercepts reported in Hole 19-CT-019 (36.0 meters @ 1.11% Li2O and 44.9 meters @ 1.30% Li2O).

Regional Properties

The remainder of the proposed drilling will be distributed on Piedmont’s regional properties. Drilling at Area 1 (Figure 1) will target a large robust soil anomaly along with outcrops of spodumene bearing pegmatite that range up to 2.37% Li2O. Initially, Area 2 and 3 (Figure 1) will receive limited drilling that will target significant soil anomalies and spodumene in outcrop. At Sunnyside, soil anomalies and newly identified spodumene pegmatite occurrences will be targeted as well as potential follow up drilling from the 2018 drilling reported in our announcement dated October 16, 2018 (20.1 meters @1.42% Li2O). Prioritization of drilling will be results based, not all the regional targets may get drilled.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are excited to once again have drill rigs in the field. The Carolina Tin-Spodumene Belt is one of the world’s most significant spodumene occurrences, and there are many high-priority targets remaining on our properties. Spodumene is the dominant feedstock for the fast-growing lithium hydroxide market, and with over 80% of the world’s hydroxide currently being produced in China, this is an opportune time for Piedmont to grow its mineral resources in the United States.”

To view the full ASX release, click here.

Keith Phillips

President & CEO
T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Lithium: June 2020 Quarterly Report

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NEW YORK – Piedmont Lithium Limited (ASX:PLL; NASDAQ:PLL) (“Piedmont” or “Company”) is pleased to present its June 2020 quarterly report. Highlights during and subsequent to the quarter were:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200730005130/en/

Figure 1: Piedmont Lithium project located within the TSB (Graphic: Business Wire)

Figure 1: Piedmont Lithium project located within the TSB (Graphic: Business Wire)

  • Completed a pre-feasibility study (“PFS”) for Piedmont’s proposed lithium hydroxide chemical plant (“Chemical Plant”) in Kings Mountain, North Carolina, USA. The PFS highlighted a business model where a Piedmont built and owned Chemical Plant would convert spodumene concentrate purchased on the global market to battery-grade lithium hydroxide.
  • Completed an updated scoping study for Piedmont’s integrated mine-to-hydroxide project. The mine-to-hydroxide project comprises a mine and concentrator producing spodumene concentrate which will be transported to Piedmont’s Chemical Plant and converted into battery-grade lithium hydroxide. The updated scoping study includes the results of the new Chemical Plant PFS.
  • Completed additional metallurgical testwork to produce 120 kilograms of spodumene concentrate from core samples collected from the Piedmont Lithium Project. Concentrate qualities and recoveries were consistent with earlier testwork programs.
  • Completed a bench-scale lithium hydroxide testwork program at SGS Canada, Inc. in Lakefield, Ontario which demonstrated conversion of Piedmont ore to battery-quality lithium hydroxide.
  • Entered into a memorandum of understanding (“MOU”) with Primero Group (“Primero”) for the delivery of Piedmont’s planned spodumene concentrator on an engineer, procure, and construct (“EPC”) basis, with Primero to contract operate the spodumene concentrator for a period of up to six years following construction.
  • Concluded a definitive and exclusive marketing agreement for byproduct quartz, feldspar, and mica with Ion Carbon, a division of AMCI. The Company continues to advance offtake discussions for byproducts with quartz offtake discussions the most advanced.
  • Appointed Mr. Austin Devaney as Vice President – Sales & Marketing. Mr. Devaney spent most of the past decade in senior marketing roles with Albemarle Corporation, most recently as Vice President, Strategic Marketing and Customer Excellence.
  • Completed a U.S. public offering of 2,065,000 of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares, including the exercise of the underwriters’ over-allotment option, at an issue price of US$6.30 per ADS, to raise gross proceeds of US$13.0 million (~A$18.6 million) (“Public Offering”).
  • Piedmont has also received commitments from existing non-U.S. institutional and sophisticated shareholders and directors for 120,000,000 of its fully paid ordinary shares, at an issue price of A$0.09 per share (which equates to the same issue price of the Public Offering), to raise gross proceeds of A$10.8 million (“Private Placement”). Completion of the Private Placement is subject to shareholder approval.

Keith D. Philips, President and CEO of Piedmont commented “We are extremely pleased with the progress the Company has made during the quarter on advancing our 100% owned Piedmont Lithium Project. The PFS and scoping studies both demonstrate the economic benefit of developing a lithium chemical business in North Carolina, USA given its exceptional infrastructure, low operating costs and competitive tax regime.

“We continue to build a world-class team to support the project development. The appointment of Austin Devaney, one of the world’s most experienced lithium marketing professionals, significantly improves the Company’s lithium marketing experience. Primero’s extensive skill set in the construction and operation of spodumene concentrate plants adds considerable technical experience and de-risks that aspect of our project.

“Piedmont’s robust balance sheet provides the ability for the company to continue to progress the development the Kings Mountain site. We will be actively working on a Definitive Feasibility Study in coming months and I look forward to updating the market in due course.”

Click here to view the full ASX Announcement.

Keith Phillips

President & CEO

+1 973 809 0505

kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

+1 732 331 6457

tmckenna@piedmontlithium.com


Piedmont Achieves Milestone with Production of Battery Quality Lithium Hydroxide

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  • Bench-scale lithium hydroxide testwork has been successfully completed at SGS Canada
  • Testwork results compare favorably with current battery quality market specifications

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has completed a bench-scale testwork program at SGS Canada, Inc. (“SGS”) in Lakefield, Ontario to produce initial quantities of battery-quality lithium hydroxide monohydrate. Lithium hydroxide was produced from spodumene concentrate produced at SGS from core samples taken from the Piedmont Lithium Project (“Project”). Quality results compare favorably with current market specifications for battery quality lithium hydroxide. Testwork results are shown in Table 1.

Table 1 – Results of Piedmont Lithium Hydroxide Testwork Compared with Industry Specifications

Product

Unit

PLL Results

China Spec1

Livent Spec2

Ganfeng Spec2

LiOH

(%)

>56.5

=56.5

56.5

56.5

Na

ppm

<20

=80

20

20

K

ppm

<10

=20

10

10

Fe

ppm

<2

=8

5

5

Ca

ppm

<9

=200

15

15

Cu

ppm

<1

–

5

5

Mg

ppm

<0.7

–

–

10

Si

ppm

8

–

30

30

Cl

ppm

<10

=50

20

20

SO4

ppm

<100

=150

100

100

CO2

%

0.48

0.40

0.35

0.50

1. GB/T 8766-2013 T2


2. Company sources

The program results demonstrate the ability of Piedmont to concentrate and produce battery-quality lithium hydroxide via an ‘ore-to-hydroxide’ conversion route which is consistent with the chemical plant process design in the Company’s recently completed lithium chemical plant prefeasibility study.

Keith D. Phillips, President and Chief Executive Officer, commented: “The successful production of battery quality lithium hydroxide from ore samples taken from the Company’s drill core represents a major milestone for Piedmont Lithium. The Carolina Tin-Spodumene Belt is renowned for its pure spodumene mineralogy, and we are very pleased that this testwork program confirms the low-impurity profile of our 100%-owned mineral resource. With Austin Devaney now on board as our VP – Sales & Marketing, we look forward to sharing these results with prospective customers in the automotive, battery and cathode businesses, as we advance in our goal of becoming a leading American lithium hydroxide producer.”

To view the full ASX Announcement, click here.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Appoints Primero Group as Preferred EPC and Operations Contractor

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  • Piedmont and Primero have entered into an MOU for the delivery of the proposed Piedmont spodumene concentrator on an Engineer, Procure, and Construct (“EPC”) basis
  • Primero to contract operate the spodumene concentrator for a period of up to six years following construction
  • Primero is a world leader in the design, construction, and operations of spodumene concentrator projects
  • MOU significantly mitigates the execution risk of Piedmont’s integrated lithium hydroxide business

NEW YORK –
Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to report that the Company has entered into a memorandum of understanding (“MOU”) with Primero Group (“Primero”) relating to the Company’s planned spodumene concentrator located in the historic Carolina Tin-Spodumene Belt in North Carolina, USA.

Piedmont and Primero have partnered since early 2018 and Primero has been the lead engineering consultant for Piedmont’s scoping studies, concentrator design, and metallurgical testwork management. Building on this strong relationship, Piedmont and Primero have entered into the MOU to work together on an exclusive basis to agree binding documentation relating to the definitive feasibility study (“DFS”), front-end engineering design, EPC delivery, commissioning, ramp-up and contract operations of the spodumene concentrator.

The EPC and operations contract models contemplated by the MOU provide incentives for Primero to achieve safety, schedule, budget, process performance, production, and recovery targets. The arrangements contemplated by the MOU create a delivery framework which significantly reduces technical, operational and commercial risks associated with the concentrator. The Company continues to evaluate other strategic partnerships that could enhance performance in the design, construction and operations of other aspects of Piedmont’s integrated lithium hydroxide business.

Primero is recognized as a world leader in the design, construction, optimization, and contract operations of spodumene projects globally. Primero’s client list includes the existing operations of Pilbara Minerals, Altura, Alliance Minerals and Galaxy and engineering services performed for Sigma Lithium, Savannah Resources, Core Lithium and many others. Primero’s EPC and contract operations services at Alliance Minerals’ Bald Hill mine notably achieved nameplate capacity within two months of plant commissioning.

Cam Henry, Managing Director of Primero commented: “Piedmont is a world-class project surrounded by infrastructure and ideally located near potential customers in the USA’s auto alley. We are excited to continue the relationship we have established with Piedmont Lithium over the past three years and we look forward to applying our specialist expertise in project implementation and operations to assist Piedmont in advancing the only spodumene project currently under development in the United States.”

Keith D. Phillips, President and CEO of Piedmont, commented: “We are very pleased to be working with Primero as we advance our integrated lithium hydroxide project. Primero is the world-leader in the design, construction and operation of spodumene concentrate plants, with extensive involvement in many of the producing operations in Western Australia and leadership roles in projects in Canada, Brazil and Portugal. This is a key milestone as we build out our project execution team, with an emphasis on working with proven processes and experienced professionals.”

To view the full ASX Announcement, click here.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Timothy McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Lithium Limited Announces Closing of Public Offering and Full Exercise of Underwriters’ Over-Allotment Option

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NEW YORK – Piedmont Lithium Limited, (Nasdaq, ASX: PLL), today announced the closing of its previously announced underwritten public offering of 2,065,000 American Depositary Shares (“ADS”), which includes the full exercise of the underwriters’ option to purchase 265,000 additional ADSs, each ADS representing 100 of its ordinary shares, at a price per ADS to the public of US$6.30 (“Public Offering“). The aggregate gross proceeds of the Public Offering totaled approximately US$13.0 million.

Piedmont has also received commitments from existing non-U.S. institutional and sophisticated shareholders and directors for 120,000,000 of its ordinary shares, at an issue price of A$0.09 per share (which equates to the same issue price of the Public Offering), to raise gross proceeds of A$10.8 million (US$7.6 million) (“Private Placement“). Completion of the Private Placement is subject to shareholder approval. The total gross proceeds to the Company from the Public Offering and Private Placement are expected to exceed US$20.5 million before deducting underwriting discounts, commissions and other offering expenses.

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC acted as joint book-running managers for the Public Offering. Canaccord Genuity LLC and Roth Capital Partners are acting as financial advisors for the Public Offering.

Canaccord Genuity (Australia) Limited and Shaw and Partners Limited acted as joint-lead managers to the Private Placement.

Piedmont Lithium intends to use the proceeds from the Public Offering and Private Placement to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, test work, permitting and ongoing land consolidation, and for general corporate purposes.

The Public Offering was made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC“). A final prospectus supplement and accompanying prospectus related to the offering of the ADSs have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the final prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone: (877) 436-3673 or e-mail: prospectus@think-equity.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Piedmont Lithium Limited.

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project“) located within the Carolina Tin-Spodumene Belt (“TSB“) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Piedmont Lithium Limited is using forward-looking statements in this press release when it discusses the possible offering of additional American Depositary Shares and the intended use of proceeds. Because such statements deal with future events and are based on Piedmont Lithium Limited’s current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Piedmont Lithium Limited could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those discussed under the heading “Risk Factors” in Piedmont Lithium Limited’s annual report on Form 20-F filed with the SEC on November 1, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Piedmont Lithium Limited undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Piedmont Lithium Limited is not responsible for the contents of third-party websites.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Announces Pricing of Public Offering

by

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL) today announced the pricing of an underwritten public offering of 1,800,000 American Depositary Shares, each representing 100 of its ordinary shares (“Public Offering”), at a price per ADS to the public of $6.30, for aggregate gross proceeds of $11,340,000. Piedmont has granted the underwriters a 30-day option to purchase up to an additional 265,000 of the ADSs sold in the Public Offering to cover over-allotments at the issue price of the Public Offering. The Public Offering is expected to close on June 11, 2020, subject to customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC are acting as joint book-running managers for the offering.

Piedmont also intends to conduct a substantially concurrent Australian private placement of up to 120,000,000 ordinary shares to existing non-U.S. institutional and sophisticated investors (“Private Placement”), at a price equivalent to the issue price in the Public Offering. The Public Offering is not contingent upon the Private Placement. The Company expects the Private Placement will be fully committed upon the closing of the Public Offering, but the completion of the Private Placement will be subject to shareholder approval pursuant to applicable ASX listing rules.

Proceeds from the offerings will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement related to the offering of the ADSs will be filed with the SEC and when available, may be obtained on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone: (877) 436-3673 or e-mail: prospectus@think-equity.com.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com