Elevra Lithium shareholders approved a strategic financing package to fund the North American Lithium (NAL) Brownfield Expansion through a three-stage phased approach. The package includes a A$275 million institutional equity placement, A$146 million in convertible notes from Canada Growth Fund, and expected net proceeds of A$87 million from the divestment of the Ewoyaa Project in Ghana. The NAL expansion aims to increase annual spodumene concentrate production capacity by approximately 74% and reduce unit operating costs by 21%. Shareholders also ratified prior share issuances related to an institutional placement and an equity issuance to Lithium Offtake Inc. Elevra Lithium is a lithium producer with assets in Canada, the United States, and Australia.
