{"success":true,"data":{"pressRelease":{"id":"32327","rtpr_id":"nGNXb5LWdH","ticker":"ELV","exchange":"ASX","all_tickers":["ELV"],"title":"Elevra Lithium Announces Purchase of Moblan Offtake Rights","author":"Globe Newswire","published_at":"2026-05-12T20:05:04.882Z","article_body":"BRISBANE, Australia, May 12, 2026 (GLOBE NEWSWIRE) -- North American lithium\nproducer Elevra Lithium Limited (“Elevra” or \"Company\") (ASX:ELV;\nNASDAQ:ELVR) is pleased to announce that it has purchased and terminated the\nspodumene concentrate offtake agreement (“Offtake Agreement”) previously\ngranted to an investment vehicle managed by Waratah Capital Advisors Ltd\n(“Waratah”) in respect of the Moblan Lithium Project (“Moblan”).\nMoblan is owned 60% by Elevra and 40% by Investissement Québec.\n\nFollowing completion of the transaction, Elevra now controls 100% of its\npro-rata offtake entitlement from Moblan, enhancing future value realisation\nfrom one of North America’s preeminent lithium assets.\n\nTransaction Overview\n\nThe terminated Offtake Agreement originated under an October 2021 agreement\nbetween Sayona Mining and Waratah which granted Waratah the right to purchase\n10% of Sayona’s ownership participation in Moblan’s annual spodumene\nconcentrate production on a life of mine basis priced at a 5% discount to\nprevailing market prices.\n\nElevra and Waratah have executed an agreement to terminate the Offtake\nAgreement and related delivery obligations. In consideration of the\ntermination of the Offtake Agreement, Elevra has agreed to issue Waratah:\n* US$5 million in Elevra Lithium ordinary shares (at an issue price of A$12.20\nper share); and\n* US$0.5 million in options (at the same issue price) which are exercisable at\na 50% premium to the issue price of Elevra’s ordinary shares issued under\nthis agreement.\nThe shares will be issued using existing placement capacity and will rank\nequally with existing Elevra ordinary shares, while the options are\nexercisable 120 days after closing (closing being 12 May 2026) and up to the\nthird anniversary of the date of closing.\n\nStrategic Rationale\n\nThe repurchase strengthens Elevra’s long-term commercial position at Moblan\nby eliminating a life of mine sales commitment priced at a discount to\nprevailing market prices. Elevra now controls 100% of the Company’s\nattributable Moblan offtake, creating increased flexibility to structure\nsupply agreements and financing opportunities.\n\nElevra’s Chief Executive Officer and Managing Director, Lucas Dow, said:\n“The original agreement represented a life of mine commitment at a\ndiscounted market price. As we explore developing Moblan as a larger project,\nthe ability to purchase the Moblan offtake presented an opportunity to enhance\nthe long-term economics and strategic flexibility of the project. This was\nachieved through an equity-based transaction which preserves cash as we\nadvance development planning.\"\n\nAnnouncement authorised for release by Elevra’s Board of Directors.\n\nAbout Elevra Lithium\n\nElevra Lithium Limited is a North American lithium producer (ASX:ELV;\nNASDAQ:ELVR) with projects in Québec, Canada, United States and Western\nAustralia.\n\nElevra’s assets comprise North American Lithium (100%), a 60% stake in the\nMoblan Lithium Project in Central Québec and the Carolina Lithium project\n(100%) in the United States(1).\n\nIn Western Australia, the Company holds a large tenement portfolio in the\nPilbara region prospective for gold and lithium.\n\nFor more information, please visit us at www.elevra.com\n\n__________________________________________\n\n1. See ASX release dated 11 May 2026, “Elevra enters agreement to sell\nEwoyaa Project interest”.\n\nFor more information, please contact:\nAndrew Barber\nInvestor Relations\nPH: +617 3369 7058\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f5758a63-2477-4360-8e0d-d2d722cda136)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXb5LWdH","title":"Elevra Lithium Announces Purchase of Moblan Offtake Rights","author":"Globe Newswire","ticker":"ELV","created":"2026-05-12T20:05:04.882Z","tickers":["ELV"],"exchange":"ASX","article_body":"BRISBANE, Australia, May 12, 2026 (GLOBE NEWSWIRE) -- North American lithium\nproducer Elevra Lithium Limited (“Elevra” or \"Company\") (ASX:ELV;\nNASDAQ:ELVR) is pleased to announce that it has purchased and terminated the\nspodumene concentrate offtake agreement (“Offtake Agreement”) previously\ngranted to an investment vehicle managed by Waratah Capital Advisors Ltd\n(“Waratah”) in respect of the Moblan Lithium Project (“Moblan”).\nMoblan is owned 60% by Elevra and 40% by Investissement Québec.\n\nFollowing completion of the transaction, Elevra now controls 100% of its\npro-rata offtake entitlement from Moblan, enhancing future value realisation\nfrom one of North America’s preeminent lithium assets.\n\nTransaction Overview\n\nThe terminated Offtake Agreement originated under an October 2021 agreement\nbetween Sayona Mining and Waratah which granted Waratah the right to purchase\n10% of Sayona’s ownership participation in Moblan’s annual spodumene\nconcentrate production on a life of mine basis priced at a 5% discount to\nprevailing market prices.\n\nElevra and Waratah have executed an agreement to terminate the Offtake\nAgreement and related delivery obligations. In consideration of the\ntermination of the Offtake Agreement, Elevra has agreed to issue Waratah:\n* US$5 million in Elevra Lithium ordinary shares (at an issue price of A$12.20\nper share); and\n* US$0.5 million in options (at the same issue price) which are exercisable at\na 50% premium to the issue price of Elevra’s ordinary shares issued under\nthis agreement.\nThe shares will be issued using existing placement capacity and will rank\nequally with existing Elevra ordinary shares, while the options are\nexercisable 120 days after closing (closing being 12 May 2026) and up to the\nthird anniversary of the date of closing.\n\nStrategic Rationale\n\nThe repurchase strengthens Elevra’s long-term commercial position at Moblan\nby eliminating a life of mine sales commitment priced at a discount to\nprevailing market prices. Elevra now controls 100% of the Company’s\nattributable Moblan offtake, creating increased flexibility to structure\nsupply agreements and financing opportunities.\n\nElevra’s Chief Executive Officer and Managing Director, Lucas Dow, said:\n“The original agreement represented a life of mine commitment at a\ndiscounted market price. As we explore developing Moblan as a larger project,\nthe ability to purchase the Moblan offtake presented an opportunity to enhance\nthe long-term economics and strategic flexibility of the project. This was\nachieved through an equity-based transaction which preserves cash as we\nadvance development planning.\"\n\nAnnouncement authorised for release by Elevra’s Board of Directors.\n\nAbout Elevra Lithium\n\nElevra Lithium Limited is a North American lithium producer (ASX:ELV;\nNASDAQ:ELVR) with projects in Québec, Canada, United States and Western\nAustralia.\n\nElevra’s assets comprise North American Lithium (100%), a 60% stake in the\nMoblan Lithium Project in Central Québec and the Carolina Lithium project\n(100%) in the United States(1).\n\nIn Western Australia, the Company holds a large tenement portfolio in the\nPilbara region prospective for gold and lithium.\n\nFor more information, please visit us at www.elevra.com\n\n__________________________________________\n\n1. See ASX release dated 11 May 2026, “Elevra enters agreement to sell\nEwoyaa Project interest”.\n\nFor more information, please contact:\nAndrew Barber\nInvestor Relations\nPH: +617 3369 7058\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f5758a63-2477-4360-8e0d-d2d722cda136)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-12T20:05:04.923266513Z","server_sent_at_ms":1778616304923},"received_at":"2026-05-12T20:05:05.262Z","source_url":null},"analysis":null,"durationMs":null,"modelName":null}}