In 2012, A10, a leading Brazilian M&A and private equity firm, used its personal capital and partners’ funds to back Sigma Lithium Resources (TSXV: SGMA; US-OTC: SGMLF) and its hard rock lithium project.
A10 took the company public and raised its stake from 72% before the IPO to 75%, the regulatory cap under Brazilian law.
“We actually bought more stock since we took it public and we haven’t sold a single share,” says Ana Cabral, A10’s managing partner and co-founder. “We’re putting our money where our mouths are. We think this is going to fly.”
Mitsui & Co. thinks so, too, recently signing a binding offtake and financing agreement with the company for up to 55,000 tonnes a year of battery-grade lithium concentrate for a six-year period, extendable for five years.
Continue reading at The Northern Miner.