UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2024
Commission File Number: 001-40786
Sigma Lithium
Corporation
(Translation of registrant's name into English)
2200 HSBC Building
885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ¨ Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized
(the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities
are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Sigma Lithium Corporation |
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(Registrant) |
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Date: February 15, 2024 |
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Ana Cristina Cabral Gardner |
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Chief Executive Officer |
Exhibit 99.1
SIGMA
LITHIUM IS AWARDED BY BNDES A LETTER OF
INTENTION FOR DEVELOPMENT BANK DEBT TO FUND
CONSTRUCTION OF ITS ENVIRONMENTALLY FULLY LICENSED
SECOND GREENTECH INDUSTRIAL LITHIUM PLANT
HIGHLIGHTS
| · | Sigma
Lithium completed the certification process with BNDES, which included the filing of the
final FEL3 Capex for Construction and Engineering of the Second Greentech Plant totaling
R$ 492,4 million or approximately US$ 100 million |
| · | The
Letter of Intention by BNDES outlines its intention to extend the Company development bank
debt financing ("Development Bank Debt") to fund the Second Greentech industrial
lithium concentrate production plant ("Second Greentech Plant") at Vale do Jequitinhonha
in Brazil. |
| · | Sigma
is also pleased to announce it was awarded a concomitant LP, LI, LO environmental license
to install and operate ("Full Environmental License") the Second Greentech Plant
by the State of Minas Gerais on January 31, 2024. |
| o | The
Company's impeccable sustainability track record led it to receive, once more, a unanimous
vote by all members of the independent environmental board (COPAM), which votes and awards
environmental licenses in Minas Gerais, including the vote of the board members representing
the NGOs. |
| o | The
Full Environmental License allows the Company to further expand its industrial beneficiation
and processing capacity of lithium minerals to up to a total of 3.7 million tonnes per year. |
| · | With
the Second Greentech Plant, Sigma expects to significantly increase its production capacity
of its Quintuple Zero Green Lithium from the current 270,000 tonnes (on an annualized basis)
by approximately 240,000 tonnes (at a design estimated capacity at 6% Li2O) to approximately
510,000 tonnes. |
| o | The
Second Greentech Plant will introduce additional innovations that will further increase the
efficiency of its industrial process to beneficiate spodumene ore into Quintuple Zero Green
Lithium. |
| o | Sigma's
learning curve while commissioning the First Greentech Plant, rapidly achieving nameplate
capacity has been essential to its ability to innovate and further enhance a process that
beneficiates spodumene ore into pre-chemical lithium concentrate. |
| · | Sigma
anticipates initiating construction in the first quarter of 2024 at the end of the wet raining
season, following a Final Investment Decision to be made by its Board of Directors. |
São
Paulo, Brazil – (February 09, 2024) – Sigma Lithium Corporation (“Sigma Lithium” or the “Company”)
(NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric
vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, is pleased to announce that it received a
Letter of Intention for a project finance credit line (“Development Bank Credit Line”) from the Development Bank of the Brazil
(the “BNDES”). The Development Bank Credit Line will be used for the expansion of the Company’s world class unique
Quintuple Zero Green Lithium Grota do Cirilo project in Vale do Jequitinhonha in Brazil (the “Project”).
The
Letter of Intent is non-binding, as the consummation of the Development Bank Credit Line remains subject to completion of: (i) observation
of operating policies of BNDES in place during the review of Sigma Lithium’s project finance application; (ii) review of the
financing structure proposed by the Company; (iii) the Company submission of satisfactory collateral to BNDES. The closing of the
Development Bank Credit Line is subject to the final credit approval by BNDES Credit Committee, negotiation of definitive documentation
and other customary closing conditions, followed by final credit approval for each draw-drown. The financial cost of this type of credit
line is typically based on the Brazilian reference rate (“taxa referencial” or “TR”).
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However,
the closing conditions do not include lithium market-related conditions and pricing elements that fall outside of the control of the
Company.
The
development bank credit line is part of a broader strategic plan by BNDES to foster in Brazil the development of a world class competitive
industrial supply chain to lead the global supply of environmentally and socially sustainable battery materials.
BNDES
stated in the letter that the financing for projects to increase industrial production capacity of critical minerals is one of the priorities
of BNDES’s long term strategy to support the development of a strong, green and inclusive industrial base in Brazil.
Ana
Cabral-Gardner, CEO and Co-Chairman said: “We are honored and delighted with the Letter of Intention received today from BNDES.
Development Bank Debt awarded by Brazil has the potential to significantly improve our capital structure due to typical longer duration,
significantly lower interest rates and grace periods. Having BNDES as a creditor represents the support of the government of Brazil to
Sigma Lithium’s industrial expansion plans at Vale do Jequitinhonha.”
She
added “Despite the recent deterioration in the outlook for lithium demand for the short term, the Company believes that with
the appropriate capital structure enabled by this development bank financing, it has a unique opportunity to solidify its global industrial
competitive leadership in producing low cost and sustainable pre chemical lithium concentrate. We share with BNDES the belief that the
Company’s competitive leadership could become the vector to attract to Brazil other global industrial players in the battery supply
chain, who are focused in producing using environmentally and socially sustainable materials supplying the next generation of electric
vehicles: aligned with the ethos of its climate conscious consumers”.
“This
BNDES support also allows Sigma to further amplify its transformational impact in the Vale do Jequitinhonha, one of the poorest regions
in the country: illustrating the effects of how a just and inclusive energy transition has the potential to lift an entire region. Sigma
Lithium has been operating with an ESG-centered strategy since it was founded: it is now producing the most sustainable lithium in the
world, staying at the forefront of environmental practices, effecting economic impact in the community and maintaining a diverse Board
with the transparency and compliance of a Nasdaq US listed public company”, she added.
ABOUT
SIGMA LITHIUM
Sigma
Lithium (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) is a leading global lithium producer dedicated to powering the next generation of electric
vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate.
Sigma
Lithium has been at the forefront of environmental and social sustainability in the EV battery materials supply chain for six years and
it is currently producing Quintuple Zero Green Lithium from its Grota do Cirilo Project in Brazil. Phase 1 of the project is expected
to produce 270,000 tonnes of Quintuple Zero Green Lithium annually (36,700 LCE annually). If it is determined to proceed after completion
of an ongoing feasibility study, Phase 2 & 3 of the project are expected to increase production to 766,000 tonnes annually (or
104,200 LCE annually). The project produces Quintuple Zero Green Lithium in its state-of-the-art Greentech lithium plant that uses 100%
renewable energy, 100% recycled water and 100% dry-stacked tailings.
Please
refer to the Company’s National Instrument 43-101 technical report titled "Grota do Cirilo Lithium Project Araçuaí
and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report" updated January 18, 2024, which was prepared
for Sigma Lithium by Marc-Antoine Laporte, P.Geo, SGS Canada Inc; and Iran Zan, MAIG, Sigma Lithium. The Updated Technical Report is
filed on SEDAR and is also available on the Company’s website.
The
Amended and Restated Technical Report from January 18, 2024 shows a Consolidated Mineral Resource on the Grota do Cirilo
property of 94.3Mt of Measured and Indicated Resources at a grade of 1.40% Li2O and Inferred Resources of 14.6Mt also at a grade of 1.37%
Li2O.
For
more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
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FOR
ADDITIONAL INFORMATION PLEASE CONTACT
Mathew
DeYoe, EVP of Corporate Affairs & Strategic Development,
+1 (201) 819-0303
Mattew.deyoe@sigmalithium.com.br
Jamie
Flegg, Director, Business Development
+1 (647) 706-1087
jamie.flegg@sigmalithium.com.br
Daniel
Abdo, Director, Investor Relations
+55
11 2985-0089
daniel.abdo@sigmalithium.com.br
Sigma
Lithium
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Sigma
Lithium |
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@sigmalithium |
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@SigmaLithium |
FORWARD-LOOKING
STATEMENTS
This
news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation, including
but not limited to statements relating to timing and costs related to the general business and operational outlook of the Company, the
environmental footprint of tailings and positive ecosystem impact relating thereto, donation and upcycling of tailings, timing and quantities
relating to tailings and Green Lithium, achievements and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes,
production estimates and the operational status of the Grota do Cirilo Project, and other forward-looking information. All statements
that address future plans, activities, events, estimates, expectations or developments that the Company believes, expects or anticipates
will or may occur is forward-looking information, including statements regarding the potential development of mineral resources and mineral
reserves which may or may not occur. Forward-looking information contained herein is based on certain assumptions regarding, among other
things: general economic and political conditions; the stable and supportive legislative, regulatory and community environment in Brazil;
demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company’s market position
and future financial and operating performance; the Company’s estimates of mineral resources and mineral reserves, including whether
mineral resources will ever be developed into mineral reserves; and the Company’s ability to operate its mineral projects including
that the Company will not experience any materials or equipment shortages, any labour or service provider outages or delays or any technical
issues. Although management believes that the assumptions and expectations reflected in the forward-looking information are reasonable,
there can be no assurance that these assumptions and expectations will prove to be correct. Forward-looking information inherently involves
and is subject to risks and uncertainties, including but not limited to that the market prices for lithium may not remain at current
levels; and the market for electric vehicles and other large format batteries currently has limited market share and no assurances can
be given for the rate at which this market will develop, if at all, which could affect the success of the Company and its ability to
develop lithium operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking
information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of
new information, future events or otherwise, except as required by law. For more information on the risks, uncertainties and assumptions
that could cause our actual results to differ from current expectations, please refer to the current annual information form of the Company
and other public filings available under the Company’s profile at www.sedar.com.
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
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