M&A

Albemarle to invest C$109M in Patriot

Patriot Battery Metals has followed a much-anticipated maiden resource on its CV5 spodumene pegmatite at its Corvette Property in the James Bay region of Quebec, Canada, with a C$109 million investment from leading lithium chemicals producer Albemarle.

Patriot Battery Metals' Corvette in Quebec, Canada

Patriot Battery Metals' Corvette in Quebec, Canada

Albemarle will buy 7.1 million Patriot shares at $15.29 each, at a 7% premium to the closing price on July 31, to own a 6.4% stake in the junior. The proceeds will be used to accelerate development activities...

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