REG - Zinnwald Lithium PLC - Further re Bacanora Lithium distribution of shares

Zinnwald LithiumAnnouncement

17/12/2021 08:50

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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               info@zinnwaldlithium.com
 David Hart/Liz Kirchner                          Allenby Capital Limited            +44 (0) 20 3328 5656

                                                  (Nominated Adviser)
 Mike Seabrook / Robert Hayward / Chris Crawford  Oberon Capital                     +44 (0) 20 3179 5344

                                                  (Joint Broker)                     +44 (0) 20 3179 5315
 James Pope/Andy Thacker                          Turner Pope Investments (TPI) Ltd  +44 (0) 20 3657 0050

                                                  (Joint Broker)
 Isabel de Salis/Frank Buhagiar                   St Brides Partners (Financial PR)  info@stbridespartners.co.uk

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.

 

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