Further re Bacanora Lithium distribution of shares

RNS Number : 0249W

Zinnwald Lithium PLC

17 December 2021

 

17 December 2021

Zinnwald Lithium plc

("Zinnwald Lithium" or the "Company")

Distribution of Zinnwald Shares owned by Bacanora

The Zinnwald Board notes today's announcement by Bacanora Lithium plc ("Bacanora") regarding the distribution in specie of the shares held by Bacanora in Zinnwald to Bacanora's shareholders. The distribution of these shares, representing 30.9 per cent. of Zinnwald's issued share capital, will happen on 22 December 2021.

Anton du Plessis, CEO of Zinnwald said: 

"I am pleased to welcome the Bacanora shareholders to Zinnwald and I look forward to updating all shareholders in the new year on progress at the Zinnwald Lithium Project and our plans to further advance the asset."

For further information contact:

Anton du Plessis	Zinnwald Lithium plc	[e-mail]
David Hart/Liz Kirchner	Allenby Capital Limited (Nominated Adviser)	[phone]
Mike Seabrook / Robert Hayward / Chris Crawford	Oberon Capital (Joint Broker)	[phone] [phone]
James Pope/Andy Thacker	Turner Pope Investments (TPI) Ltd (Joint Broker)	[phone]
Isabel de Salis/Frank Buhagiar	St Brides Partners (Financial PR)	[e-mail]

Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium development company focussed on becoming an important supplier to Europe's fast-growing battery sector. The Company owns the Zinnwald Lithium Project in Germany, a late-stage development project with attractive economics and approved mining licence.  A Feasibility Study, published in June 2019, highlighted a 428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin for Zinnwald.  The project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's most advanced battery grade lithium projects.

 

END

 

 

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