The mining company Central America Nickel (CAN), rejected in Superior Court earlier this week in the case of the sale of North American Lithium (NAL), in Abitibi, will appeal the judgment rendered.
• Read also: North American Lithium could be sold to Australian Sayona
In a press release released this Friday, July 2, the company announces that it has asked its prosecutors to “immediately file legal proceedings to request leave to appeal the judge’s decision” Martin Castonguay before the Court of Appeal of Quebec .
“If the SISP (Investor Selling and Solicitation Procedures) rules are not intended to be followed or may be rescinded or waived by the Monitor at any time in the submission process, then Why even bother to set out the rules in the first place ?, CAN President and CEO Pierre Gauthier asked in a press release.
The latter continues: “The decision to favor Sayona’s offer is an unfortunate setback, but we hope that the Court of Appeal will recognize that it must be reconsidered. A tendering process must be clear, secure and rigorous so that the outcome – whatever it is – is accepted by all. This was clearly not the case with the Sayona proposal ”.
In recent weeks, CAN had filed proceedings in Superior Court requesting, among other things, that the Court declare Sayona’s offer null and void and order the relaunch of a new process of sale and solicitation of investors. . She argued then that the process had been compromised “by several irregularities, by a lack of transparency and appropriate monitoring”
On Tuesday, the Superior Court rejected these arguments and approved the acquisition of NAL by Sayona Mining and its partner, Piedmont Lithium.
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