Sayona Mining Ltd (ASX:SYA) Share Purchase Plan

Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to offer eligible shareholders the opportunity to apply for new, fully paid ordinary shares (New Shares) in Sayona under a Share Purchase Plan (the SPP).

The SPP provides the opportunity for eligible shareholders to subscribe for up to $15,000 worth of New Shares without incurring brokerage or other transaction costs.

Also being offered is a free attaching unlisted option for every two New Shares issued exercisable at 3 cents and having an expiry date of 23 July 2022 (SPP Options). The offer of SPP Options to eligible shareholders will be made separately under a prospectus. When the Company's options currently on issue expire (if not exercised) on 30 April 2020, the Company may then apply for quotation of the New Options on ASX.

Sayona is seeking to raise up to $4,438,053 under the SPP which will be applied to the development of the Company's projects and general working capital, including:

- Environmental works;

- Permitting;

- DFS update;

- Exploration projects; and

- General working capital.

The issue price of $0.0086 per New Share represents an approximate 20% discount to the volume weighted average market closing price over the five ASX trading days immediately preceding the Announcement Date.

The Offer will open on 28 June 2019 and is scheduled to remain open until 5.00 pm (AEST) on 19 July 2019. Sayona may, at its discretion, vary any of the above dates by sending a revised timetable to ASX.

E.L. & C. Baillieu Limited and Jett Capital Advisors LLC are acting as joint brokers with respect to the SPP (refer to notice below).

Full details of the SPP will be contained in an offer document which is scheduled to be dispatched to Eligible Shareholders on or around 28 June 2019. The proposed timetable for the SPP is set out below.

Event: Record Date
Date: 7:00 pm (AEST) on 21 June 2019

Event: Lodgement of Prospectus
Date: 24 June 2019

Event: Dispatch of Share Purchase Plan Booklet and Prospectus
Date: 28 June 2019

Event: Offer opens
Date: 28 June 2019

Event: Offer closes
Date: 5:00 pm (AEST) on 19 July 2019

Event: Share Purchase Plan Shortfall notified
Date: 22 July 2019

Event: Issue of New Shares and SPP Options
Date: 23 July 2019

Event: Quotation New Shares Commences
Date: 24 July 2019

If you have any enquiries in relation to the SPP, please contact the Company Secretary Paul Crawford on pcrawford@sayonamining.com.au or 0416 104 633.

To view the document of Share Purchase Plan Offer, please visit:
http://abnnewswire.net/lnk/2M7G8G55

Dan O Neill
Managing Director
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au