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3 Aug 2023
Patriot Battery Metals receives $109 million strategic investment from Albemarle Corporation

Firms / Organizations involved

Norton Rose Fulbright Canada LLP; Shearman & Sterling LLP

Norton Rose Fulbright's Montréal, Vancouver and Melbourne offices assisted Patriot Battery Metals Inc., a hard-rock lithium exploration company, in connection with a cross-border private placement of approximately $109 million in Patriot by Albemarle Corporation. The proceeds from the strategic investment by Albemarle will be used to accelerate the development activities at Patriot's Corvette Lithium Project and for general corporate purposes.

Parties

Company

Patriot Battery Metals Inc.

Law Firm / Organization
Norton Rose Fulbright Canada LLP

Company

Albemarle Corporation

Law Firm / Organization
Shearman & Sterling LLP

Deal Type

Financing/Investment

Industry

Mining

Transaction

$ 109,000,000

Deal Status

Closed

Closing Date

03 August 2023