Bacanora Lithium plc (“Bacanora” or the “Company”) Completion of Strategic Investment by Ganfeng Lithium and Board Changes

Bacanora Lithium plc_2019

Bacanora Lithium plc (AIM: BCN), the London traded lithium company, is pleased to provide an update on the Strategic Investment by leading global lithium company Ganfeng Lithium Co., Ltd. (“Ganfeng” or “GFL”). As announced on 28 June 2019, the signed Investment Agreement and Offtake Agreement, which together make up the Strategic Investment, were submitted to the relevant authorities in China for approval.  Completion of the last of the relevant approvals has now been obtained and Bacanora has now received the £21,963,740 of funds from Ganfeng in exchange for a 29.99% equity interest in Bacanora Lithium PLC and a 22.5% JV investment directly in the Sonora Lithium Project (‘Sonora’). It is expected that the 57,600,364 shares in Bacanora will be admitted to trading on or around 18 October 2019.

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