+44 (0) 77 8855 4035 Notes to editors Bacanora Lithium Plc is an AIM-listed (ticker BCN ) lithium development company. The Company is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world s largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li
2CO
3) equivalent resources, with an approximate 250-year resource life, as detailed in its December 2017 Feasibility Study. Sonora Lithium Ltd ( SLL ) is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. On completion of this option exercise, SLL will be
Proposed fundraise of approximately US$60 million to fully-fund the construction of Stage 1 of the Sonora Lithium Project in Mexico Bacanora Lithium plc (AIM:BCN), a lithium development company, is pleased to announce a proposed issuance of new ordinary shares in the Company ( New Ordinary Shares ) at a price of 45p per New Ordinary Share (the Placing Price ) to raise gross proceeds of approximately US$60 million, comprising (i) a placing (the Placing ) of New Ordinary Shares to eligible institutional and professional investors (the Placing Shares ), (ii) concurrent private placements of New Ordinary Shares in certain other jurisdictions and (iii) the Retail Offer (as defined below) (together the Fundraising ).