Completion of First Tranche of Placement

Completion of First Tranche of Placement

 
PRESS RELEASE  |  December 13, 2018  |  NASDAQ:PLL  |  ASX:PLL

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) (“Piedmont” or “Company”) is pleased to announce that it has completed the first tranche of its previously announced placement of 111 million shares at an issue price of A$0.11 per share to raise gross proceeds of A$12.2 million (“Placement”).

Proceeds from the Placement will be used for exploration and infill drilling to expand and upgrade the resource base at the Company’s 100% owned Piedmont Lithium Project (“Project”) located in the
world-class Carolina Tin-Spodumene Belt (“TSB”) in the United States, as well as for permit applications, pilot-scale metallurgy, additional engineering studies, and ongoing land consolidation.

The first tranche of the Placement, comprising 107.6 million shares to institutional and sophisticated investors to raise gross proceeds of A$11.8 million, was completed today.

The second tranche of the Placement, comprising 3.4 million shares to Directors to raise gross proceeds of A$0.4 million, will be issued subject to shareholder approval. A notice of meeting will be sent to
shareholders shortly.

An Appendix 3B and Section 708A Notice is attached

For further information, contact:

Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com
Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com