Lithium company Sayona Mining will rebrand as Elevra Lithium following the completion of its planned merger with Piedmont Lithium.

The new name, Elevra Lithium, will take effect upon the close of the transaction, subject to shareholder approval, Sayona said in a statement on Thursday. 

Further details on branding and logo design will be provided closer to completion.

The two companies, which announced the proposed merger in November, plan to combine their operations to streamline ownership structures and accelerate development across a portfolio of lithium assets in Quebec and the US southeast.

The merged entity’s board of directors will comprise eight members — four nominated by each company. Sayona MD and CEO Lucas Dow will lead Elevra Lithium in the same role, while Piedmont nominee Dawne Hickton will serve as board chairperson.

Other Sayona nominees include James Brown, Allan Buckler and Laurie Lefcourt. Piedmont’s nominees are Christina Alvord, Jeff Armstrong and Jorg Beristain.

“I am delighted to announce the nomination of this highly experienced and capable group of leaders to form the board of Elevra Lithium,” Dow said. “Their diverse expertise across mining, legal, finance, and commercial strategy will be instrumental in steering our newly combined entity towards a successful and sustainable future.”

As part of the board reshuffle, current Sayona directors Paul Crawford and Philip Lucas, and Piedmont directors Michael Bless and Claude Demby, will retire once the transaction closes.

Dow said the combined company would be better positioned to unlock the value of its assets and meet global demand for lithium.

“The formation of Elevra Lithium will mark a defining moment in the North American lithium industry. With a strengthened balance sheet, simplified ownership structure, and a world-class asset portfolio, we will be poised to accelerate our growth strategy and enhance our ability to meet the rising global demand for lithium," Dow said.

"Our commitment to operational excellence, cost reduction and innovation will drive efficiencies across our projects, ensuring that we maximise the benefits of this merger.”

“As managing director and CEO, I look forward to working alongside my fellow board members and the broader Elevra Lithium team to execute a clear roadmap for growth. The synergies between Sayona and Piedmont Lithium will allow us to optimise our production capabilities, streamline logistics, and expand our reach in key markets. Our priority will be to advance our development pipeline efficiently, with a focus on delivering sustainable and responsible lithium production.”

An extraordinary general meeting of Sayona shareholders is expected to be held in the first half of 2025 to approve the transaction and other items.