REG - Bradda Head Lithium - Holding(s) in Company
23/03/2023 11:30
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RNS Number : 0352U Bradda Head Lithium Ltd 23 March 2023
23 March 2023
Bradda Head Lithium Ltd
("Bradda Head", "Bradda", "BHL" or the "Company")
Holdings in Company
Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI, OTCQB:BHLIF), the North
America-focused lithium development group, sets out the information below
following receipt of two TR1 notifications:
Prior to 12 March 2023, the Electrification and Decarbonization AIE LP
("E&D") and Lithium Royalty Corp. ("LRC") held the following shares in
Bradda Head:
- E&D held 28,400,000 shares
- LRC held 19,481,475 shares
On 12 March 2023, LRC transferred 19,481,475 shares to a new entity managed by
Waratah Capital Advisors Ltd, Li Equities Investments LP ("Li Equities").
Following the transfer, the resulting shareholdings are:
- E&D holds 28,400,000 shares
- LRC holds no shares
- Li Equities holds 19,481,475 shares.
For further information please visit the Company's website:
www.braddaheadltd.com (http://www.braddaheadltd.com) .
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part
of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.
Upon the publication of this announcement, this inside information is now
considered to be in the public domain.
ENDS
Contact:
Bradda Head Lithium Limited +44 (0) 1624 639 396
Charlie FitzRoy, CEO
Denham Eke, Finance Director
Beaumont Cornish (Nomad) +44 20 7628 3396
James Biddle/Roland Cornish
Peterhouse (Joint Broker) +44 207 469 0930
Charles Goodfellow
Duncan Vasey
Lucy Williams
Shard Capital (Joint Broker) +44 207 186 9927
Damon Heath
Isabella Pierre
Red Cloud (North American Broker) +1 416 803 3562
Joe Fars
Tavistock (PR) + 44 20 7920 3150
Nick Elwes braddahead@tavistock.co.uk
Adam Baynes
About Bradda Head Lithium Ltd.
Bradda Head Lithium Ltd. is a North America-focused lithium development group.
The Company currently has interests in a variety of projects, the most
advanced of which are in Central and Western Arizona: The Basin Project (Basin
East Project, and the Basin West Project) and the Wikieup Project.
The Basin East Project has an Indicated Mineral Resource of 21.2 Mt at an
average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an
Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and
3.2% K for a total of 271 kt LCE. In the rest of the Basin Project SRK has
estimated an Exploration Target of between 300 to 1,300 Mt of material
grading between 600 to 850 ppm Li which is equivalent to a range of between
1 to 6 Mt LCE. The Group intends to continue to develop its three phase one
projects in Arizona, whilst endeavouring to unlock value at its other
prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania.
All of Bradda Head's licences are held on a 100% equity basis and are in close
proximity to the required infrastructure. Bradda Head is quoted on the AIM of
the London Stock Exchange with the ticker of BHL, on the TSX Ventures exchange
with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This News Release
includes certain "forward-looking statements" which are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or goals,
including words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management's
expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward looking information in
this news release includes, but is not limited to, following: The Company's
objectives, goals or future plans. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not
limited to: failure to identify mineral resources; failure to convert
estimated mineral resources to reserves; delays in obtaining or failures to
obtain required regulatory, governmental, environmental or other project
approvals; political risks; future operating and capital costs, timelines,
permit timelines, the market and future price of and demand for lithium, and
the ongoing ability to work cooperatively with stakeholders, including the
local levels of government; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices; delays in the
development of projects, capital and operating costs varying significantly
from estimates; an inability to predict and counteract the effects of COVID-19
on the business of the Company, including but not limited to the effects of
COVID-19 on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains; and the other risks
involved in the mineral exploration and development industry, and those risks
set out in the Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than
as required by law.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
FCA in Microsoft Word format if possible)
1a. Identity of the issuer or the underlying issuer of existing shares to Bradda Head Lithium Limited
which voting rights are attached:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X"
if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with
an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name Waratah Capital Advisors Ltd.
City and country of registered office (if applicable) Toronto, Canada
4. Full name of shareholder(s) (if different from 3.)
Name Li Equities Investments LP and Electrification and Decarbonization AIE LP
City and country of registered office (if applicable) Toronto, Canada
5. Date on which the threshold was crossed or reached: 12/03/2023
6. Date on which issuer notified (DD/MM/YYYY): 17/03/2023
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B)
(total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached 12.26% N/A 12.26% 47,881,475
Position of previous notification (if 7.27% N/A 7.27% 28,400,000
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights (ix) % of voting rights
shares
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
VGG154091083 47,881,475 N/A 12.26% N/A
SUBTOTAL 8. A 47,881,475 12.26%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration Exercise/ Number of voting rights that may be acquired if the instrument is % of voting rights
date
Conversion Period
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial instrument Expiration Exercise/ Physical or cash Number of voting rights % of voting rights
date (x)
Conversion Period
Settlement
N/A
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or X
the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional rows as
necessary)
Name % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
Electrification and Decarbonization AIE LP 7.27% N/A 7.27%
Li Equities Investments LP 4.99% N/A 4.99%
Waratah Advisors GP I Limited 0% N/A 0%
Waratah Capital Advisors Ltd. 0% N/A 0%
2401261 Ontario Inc. 0% N/A 0%
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A
11. Additional information
Waratah Advisors GP I Limited is the general partner of Electrification and
Decarbonization AIE LP and Li Equities Investments LP and has delegated
investment management to Waratah Capital Advisors Ltd. ("Waratah"), which is a
wholly owned subsidiary of 2401261 Ontario Inc.
Holdings in items 7 and 8 of this document are consolidated for both
Electrification and Decarbonization AIE LP ("E&D") and Li Equities
Investments LP ("Li Equities"). Please refer to item 9 for a breakdown of
holdings by entity. On March 12, 2023, the Bradda Head Lithium Limited shares
previously held by Lithium Royalty Corp. ("LRC") were transferred to a new
entity managed by Waratah, Li Equities. This form is being submitted solely
for the acquisition of shares by Li Equities and not for the disposition by
LRC. It should be read in conjunction with the TR-1 filed on the same date by
Waratah on behalf of LRC and E&D.
Before the asset transfer on March 12, 2023, Waratah's position was as
follows:
E&D held 28,400,000 shares of Bradda Head Lithium Limited.
LRC held 19,481,475 shares of Bradda Head Lithium Limited.
Li Equities did not hold any shares of Bradda Head Lithium Limited.
As a result of the asset transfer on March 12, 2023, Waratah's position is as
follows:
E&D held 28,400,000 shares of Bradda Head Lithium Limited.
LRC did not hold any shares of Bradda Head Lithium Limited.
Li Equities held 19,481,475 shares of Bradda Head Lithium Limited.
This notification is being made pursuant to Regulation 25.3 of the issuer's
articles of association and pursuant to DTR5.
Place of completion Toronto, Canada
Date of completion 17/03/2023
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
FCA in Microsoft Word format if possible)
1a. Identity of the issuer or the underlying issuer of existing shares to Bradda Head Lithium Limited
which voting rights are attached:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X"
if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with
an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name Waratah Capital Advisors Ltd.
City and country of registered office (if applicable) Toronto, Canada
4. Full name of shareholder(s) (if different from 3.)
Name Lithium Royalty Corp. and Electrification and Decarbonization AIE LP
City and country of registered office (if applicable) Toronto, Canada
5. Date on which the threshold was crossed or reached: 12/03/2023
6. Date on which issuer notified (DD/MM/YYYY): 17/03/2023
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B)
(total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached 7.27% N/A 7.27% 28,400,000
Position of previous notification (if 12.26% N/A 12.26% 47,881,475
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights (ix) % of voting rights
shares
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
VGG154091083 28,400,000 N/A 7.27% N/A
SUBTOTAL 8. A 28,400,000 7.27%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration Exercise/ Number of voting rights that may be acquired if the instrument is % of voting rights
date
Conversion Period
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial instrument Expiration Exercise/ Physical or cash Number of voting rights % of voting rights
date (x)
Conversion Period
Settlement
N/A
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or X
the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional rows as
necessary)
Name % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
Electrification and Decarbonization AIE LP 7.27% N/A 7.27%
Lithium Royalty Corp. 0% N/A 0%
Waratah Advisors GP I Limited 0% N/A 0%
Waratah Capital Advisors Ltd. 0% N/A 0%
2401261 Ontario Inc. 0% N/A 0%
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A
11. Additional information
Waratah Advisors GP I Limited is the general partner of Electrification and
Decarbonization AIE LP and has delegated investment management to Waratah
Capital Advisors Ltd. ("Waratah"), which is a wholly owned subsidiary of
2401261 Ontario Inc.
Holdings in items 7 and 8 of this document were previously consolidated for
both Electrification and Decarbonization AIE LP ("E&D") and Lithium
Royalty Corp. ("LRC") Please refer to item 9 for a breakdown of holdings by
entity. On March 12, 2023, LRC transferred its position in Bradda Head Lithium
Limited to a new entity managed by Waratah, Li Equities Investments LP ("Li
Equities"). This form is being submitted solely for the disposition of shares
by LRC and not for the acquisition by Li Equities. It should be read in
conjunction with the TR-1 filed on the same date by Waratah on behalf of Li
Equities and E&D.
Before the asset transfer on March 12, 2023, Waratah's position was as
follows:
E&D held 28,400,000 shares of Bradda Head Lithium Limited.
LRC held 19,481,475 shares of Bradda Head Lithium Limited.
Li Equities did not hold any shares of Bradda Head Lithium Limited.
As a result of the asset transfer on March 12, 2023, Waratah's position is as
follows:
E&D held 28,400,000 shares of Bradda Head Lithium Limited.
LRC did not hold any shares of Bradda Head Lithium Limited.
Li Equities held 19,481,475 shares of Bradda Head Lithium Limited.
This notification is being made pursuant to Regulation 25.3 of the issuer's
articles of association and pursuant to DTR5.
Place of completion Toronto, Canada
Date of completion 17/03/2023
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