BCN.L Regulatory News (BCN)

23 June 2021

Bacanora Lithium plc

("Bacanora" or the "Company")

AGM update and remote access

Bacanora Lithium plc (AIM: BCN), a lithium development company, announces the following update in respect of the Company's Annual General Meeting ("AGM") on 30 June 2021.

As per the Government's announcement on 14 June 2021, to delay relaxing restrictions until at least 19 July 2021, it is with regret that the Board is unable to welcome in person all shareholders to this year's AGM and must limit physical attendance at the event to 30 people in total, including Directors, Company representatives and regulatory advisers required by the Takeover Panel. Accordingly, we would request that any shareholders wishing to attend the AGM inform the Company at info@bacanoralithium.com by close of business on 28 June 2021, so that attendance numbers can be assessed, and the maximum number of shareholders can be granted access on a "first come, first served" basis. Any unregistered shareholders who decide to attend in person will not be permitted access if the maximum number of 30 has been reached on the day.

The Company has put in place electronic access to the AGM and to the Q&A Session afterwards. To access this remotely please register using the below link:

https://webcasting.brrmedia.co.uk/broadcast/60c9eff249ccf90ed92105a9

The formal business of the AGM will only be to consider and vote upon the resolutions set out in the notice of meeting. Accordingly, the resolutions proposed at this AGM relate solely to matters in the ordinary course of business and are similar to those proposed at previous AGMs.  The AGM will not deal with any matters pertaining to the possible offer for the Company by Ganfeng International Trading (Shanghai) Limited announced on 6 May 2021.

On conclusion of the formal business of the AGM, the Directors and advisers will conduct a question-and-answer session on any other matters that shareholders wish to raise. Shareholders wishing to ask questions about the possible offer should note that, in accordance with the requirements of the Takeover Code, the Company will not be able to share any material new information or significant new opinions in relation to the possible offer other than what has been previously disclosed. Shareholders are requested to submit any questions by e-mail to info@bacanoralithium.com by no later than 2.00pm on 28 June 2021.

We would also strongly encourage shareholders to submit a proxy vote in advance of the AGM. Any changes to the arrangements for the AGM set out above will be communicated to shareholders before the AGM through the Company's website at www.bacanoralithium.com/investor-relations/agm-documents/ and, where appropriate, by a regulatory information service announcement.

In support of Bacanora's ongoing commitment to minimise unnecessary waste, the Notice of AGM, Form of Proxy, Deemed Consent Letters and the Annual Accounts for the year ended 31 December 2020 are available for download on the Company's website: www.bacanoralithium.com/investor-relations/agm-documents/.

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For further information please visit www.bacanoralithium.com or contact:

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 (Li2CO3) 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 is owned 50% by Bacanora and 50% by Ganfeng Lithium Co., Ltd. SLL 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. SLL also owns 70% of the El Sauz and Fleur concessions. 

Bacanora also owns 35.5% of Zinnwald Lithium Plc (AIM: ZNWD), which in turn owns the Zinnwald Lithium Project and the Falkenhaim, Altenberg and Sadisdorf Licences in southern Saxony, Germany.

Important notice

The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.