Sayona Mining is set to adopt a new identity as Elevra Lithium following the finalization of its proposed merger with Piedmont Lithium. The name change, which is pending shareholder approval, will take effect upon the official completion of the transaction, according to a statement released by Sayona on Thursday. Further information regarding the new branding and logo will be disclosed closer to the transaction’s completion date.

The merger, originally announced in November, is designed to consolidate operations and simplify the ownership structure across both companies’ lithium projects in Quebec, Canada, and the southeastern United States. The unification aims to accelerate development efforts and improve strategic focus in the fast-growing lithium market.

The newly formed Elevra Lithium will be governed by an eight-member board, with an equal split of four nominees from each company. Lucas Dow, currently the Managing Director and CEO of Sayona, will continue in the same leadership role at Elevra Lithium. Dawne Hickton, a nominee from Piedmont, will assume the position of board chairperson. Additional Sayona-nominated board members include James Brown, Allan Buckler, and Laurie Lefcourt, while Piedmont’s nominees include Christina Alvord, Jeff Armstrong, and Jorg Beristain.

“I’m pleased to announce this exceptional board of directors, whose combined expertise in mining, law, finance, and commercial strategy will be essential to guiding Elevra Lithium toward long-term success,” said Dow. He also noted that some current board members, including Sayona directors Paul Crawford and Philip Lucas, as well as Piedmont’s Michael Bless and Claude Demby, will step down following the transaction’s completion.

Dow emphasized that the merged entity will be better equipped to capitalize on its lithium assets and respond to growing global demand. “The establishment of Elevra Lithium represents a transformative milestone for the North American lithium industry,” he said. “With improved financial strength, a streamlined ownership model, and a world-class asset base, we are in an excellent position to execute our growth plans and support the energy transition.”

He added that the company will remain committed to operational excellence, cost efficiency, and innovation, which will enhance project delivery and support sustainable lithium production.

“As CEO, I look forward to working closely with our new board and the entire Elevra Lithium team,” Dow concluded. “Together, we aim to leverage the synergies between Sayona and Piedmont to optimize production, improve logistics, and expand our presence in key markets.”

Sayona is expected to hold an extraordinary general meeting in the first half of 2025 for shareholders to vote on the transaction and related matters.