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Piedmont Lithium Acquires 16.35% Stake in Killick Lithium, Issues $2M Shares to Benton and Sokoman

Piedmont Lithium Inc. (NASDAQ: PLL) (ASX: PLL) has announced the exercise of its Initial Earn-In Right, securing a 16.35% interest in Killick Lithium Inc. This strategic move involves issuing shares worth CAD$2.0M to Benton Resources Inc. (TSXV: BEX) and Sokoman Minerals Corp. (TSXV: SIC), with 26,099 shares allocated to each. Additionally, Piedmont commits to funding work expenditures totaling at least CAD$6.0M over the next 30 months. This investment will increase Piedmont’s direct and indirect ownership in Killick to approximately 33%.

Piedmont’s Strategic Expansion in Lithium Sector

Piedmont’s acquisition is a significant addition to its asset portfolio, enhancing its position in the lithium market. The company’s proactive approach to investment and development in the lithium sector underscores its commitment to growth and shareholder value.

About Benton Resources Inc.

Benton Resources Inc. is a diversified mineral exploration company with a focus on Lithium and Cesium assets. It maintains a strategic alliance with Sokoman Minerals Corp., managing joint-venture properties and retaining NSR royalties.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a gold-focused exploration company with a broad portfolio in Newfoundland and Labrador. It has formed a strategic alliance with Benton Resources Inc., controlling extensive land holdings in the region.

The forward-looking statements in this release reflect the companies’ plans for exploration and development. These statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes.

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