UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2024
Commission File Number: 001-40786
Sigma
Lithium Corporation
(Translation of registrant's name into English)
2200 HSBC Building
885 West Georgia Street
Vancouver, British Columbia
V6C
3E8
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ¨ Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation
S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual
report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Note: Regulation
S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document
that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is
incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country
exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required
to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject
of a Form 6-K submission or other Commission filing on EDGAR.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Sigma Lithium Corporation |
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(Registrant) |
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Date: March 8, 2024 |
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Ana Cristina Cabral Gardner |
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Chief Executive Officer |
Exhibit 99.1
SIGMA LITHIUM
CELEBRATES INTERNATIONAL WOMEN’S DAY BY CLOSING ESG TRADE FINANCE CREDIT LINES TOTALLING USD 90M AND LOADING 22,000t SHIPMENT TO
GLENCORE WITH 85% PREPAYMENT AT PREMIUM PRICES
HIGHLIGHTS
| · | Sigma
Lithium announces that it has closed trade finance credit lines totaling USD 90 million,
linked to its outstanding environmental, social and governance credentials with the following
group of leading sustainability oriented financial institutions: |
| o | Citibank:
USD 50 million |
| | |
| o | Santander:
USD 20 million |
| | |
| o | Banco
do Brasil: USD 10 million |
| | |
| o | XP
Inc: USD 10 million |
| · | The
Company will celebrate International Women’s Day this weekend by loading 22,000 tonnes
of Quintuple Zero Green Lithium to Glencore AG at the Port of Vitoria. |
| o | The
shipment demonstrates consistent performance of its Greentech industrial plant to produce
at a monthly cadence equivalent to approximately 270,000 tonnes per year (reaching design
capacity). |
| | |
| o | Glencore
has increased its prepayment to 85% of the shipment’s value at premium provisional
price of 7.5% of the quoted LME/Fastmarkets lithium hydroxide price. |
| · | At
Sigma Lithium, “Every Day is Women’s Day”. Our team is celebrating by excelling
in our jobs: consistently delivering to our clients the most sustainable lithium materials
in the world, becoming one of the building blocks of a green and socially inclusive supply
chain. |
| o | Interacting
with women leaders is part of our team’s daily routines, as a result of the unparalleled
diversity at the Company. |
| | |
| o | Over
40% of decision-making roles are occupied by women managers. |
| | |
| o | We
are the only company in our segment of battery materials with a female co-chairperson. |
São Paulo,
Brazil – (March 08, 2024) – Sigma Lithium Corporation (“Sigma Lithium” or the “Company”)
(NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric
vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, announces it will celebrate International
Women’s Day this weekend by loading 22,000 tonnes of Quintuple Zero Green Lithium to Glencore AG (“Glencore”),
at the Port of Vitoria. This seventh overall shipment demonstrates consistent performance of its Greentech industrial plant to produce
at a monthly cadence equivalent to approximately 270,000 tonnes per year.
Glencore has increased the amount of its prepayment
to 85% of the shipment’s value and improved the terms to affect payment upon product delivery to the warehouse. This represents
a shift from prior shipments, whereby the Company secured 50% of the value upon loading.
The prepayment reflects premium provisional pricing
at 7.5% of the lithium hydroxide price quoted at LME (average China, Japan, South Korea) for the Company’s unique Quintuple Zero
Green Lithium concentrate (“Quintuple Zero Green Lithium“). The shipment is part of a commercial distribution and marketing
agreement with Glencore that aims to build a low carbon, environmentally and socially sustainable global lithium supply chain for electric
vehicles.
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Additionally, Sigma Lithium announces that it
has closed a total of USD 90 million in trade finance credit lines, with the following group of leading sustainability oriented financial
institutions at interest rates averaging 11% annually:
| § | Citibank:
USD 50 million |
| | |
| § | Santander:
USD 20 million |
| | |
| § | Banco
do Brasil: USD 10 million |
| | |
| § | XP
Inc: USD 10 million |
The most recent trade finance credit line with
Citibank for USD 50mn has a 180-day duration and a 9.3% total interest rate. The Company was able to achieve favorable terms given its
superior ESG credentials, which Citibank is now expressly considering in its Supplier Finance ESG lines. The increased balance of trade
financing remains available for use, as the Company currently funds its working capital through its prepayment agreement with Glencore.
Company CEO and Co-Chairperson, Ana Cabral-Gardner,
notes, “We reached an important financing milestone closing a total of USD 90mm of ESG trade lines by achieving production cadence
at the Greentech industrial plant. Establishing a consistent shipping schedule, demonstrating our product quality, and low-cost resilience
at the trough of this lithium cycle has opened these additional credit opportunities for Sigma Lithium. The trade lines with longer duration
significantly increase our financing flexibility, as our board prepares to make a final investment decision on the construction of a
second Greentech industrial production line of Quintuple Zero Green Lithium.”
Sigma Lithium has managed to industrialize a
unique Quintuple Zero Green Lithium, recognized at COP28 as the most sustainable lithium in the world:
| · | Zero
Net Carbon: First large-scale producer in the lithium industry to achieve carbon
neutrality. |
| · | Zero
Coal Power at Greentech Plant: 100% renewable power. |
| · | Zero
Tailings Dams: 100% dry stacked tailings. |
| · | Zero
Utilization of Potable Water: Sewage treatment for solid fecal residues for Greentech
plant inbound water. |
| · | Zero
Use of Hazardous Chemicals in manufacturing process of lithium concentrate. |
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ:
SGML, BVMF: S2GM34, TSXV: SGML) is a leading global lithium producer dedicated to
powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable lithium concentrate.
Sigma Lithium operates at the forefront of environmental
and social sustainability in the EV battery materials supply chain and is currently producing Quintuple Zero Green Lithium concentrate
from its Grota do Cirilo Project in Brazil. Phase 1 of the project entered commercial production in 2Q23 and has an annual capacity of
270,000 tonnes of concentrate (36,700 LCE annually). The Company is currently evaluating a decision to expand production via a Phase
2 concentrate line and associated mine which would add another 250,000 tonnes of annual Quintuple Zero Green Lithium capacity. The project
produces lithium concentrate at its state-of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and
100% dry-stacked tailings.
Please refer to the Company’s National
Instrument 43-101 technical report titled "Grota do Cirilo Lithium Project Araçuaí and Itinga Regions, Minas Gerais,
Brazil, Amended and Restated Technical Report" issued June 12, 2023, which was prepared for Sigma Lithium by Homero Delboni
Jr., MAusIMM, Promon Engenharia; Marc-Antoine Laporte, P.Geo, SGS Canada Inc; Jarrett Quinn, P.Eng., Primero Group Americas; Porfirio
Cabaleiro Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and Noel O'Brien, B.E., MBA, F AusIMM (the “Updated Technical Report”).
The Updated Technical Report is filed on SEDAR and is also available on the Company’s website.
For more information
about Sigma Lithium, visit https://www.sigmalithiumresources.com/
FOR ADDITIONAL INFORMATION
PLEASE CONTACT
Matthew DeYoe, EVP Corporate
Affairs & Strategic Development
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+1 (201) 819-0303
matthew.deyoe@sigmalithium.com.br
Daniel Abdo, Director, Investor
Relations
+55 11 2985-0089
daniel.abdo@sigmalithium.com.br
Sigma Lithium
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Sigma
Lithium |
|
@sigmalithium |
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@SigmaLithium |
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking
information" under applicable Canadian and U.S. securities legislation, including but not limited to statements relating to timing
and costs related to the general business and operational outlook of the Company, the environmental footprint of tailings and positive
ecosystem impact relating thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium,
achievements and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the operational
status of the Groto do Cirilo Project, and other forward-looking information. All statements that address future plans, activities, events,
estimates, expectations or developments that the Company believes, expects or anticipates will or may occur is forward-looking information,
including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Forward-looking
information contained herein is based on certain assumptions regarding, among other things: general economic and political conditions;
the stable and supportive legislative, regulatory and community environment in Brazil; demand for lithium, including that such demand
is supported by growth in the electric vehicle market; the Company’s market position and future financial and operating performance;
the Company’s estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into
mineral reserves; and the Company’s ability to operate its mineral projects including that the Company will not experience any
materials or equipment shortages, any labour or service provider outages or delays or any technical issues. Although management believes
that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that these
assumptions and expectations will prove to be correct. Forward-looking information inherently involves and is subject to risks and uncertainties,
including but not limited to that the market prices for lithium may not remain at current levels; and the market for electric vehicles
and other large format batteries currently has limited market share and no assurances can be given for the rate at which this market
will develop, if at all, which could affect the success of the Company and its ability to develop lithium operations. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention
or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except
as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from
current expectations, please refer to the current annual information form of the Company and other public filings available under the
Company’s profile at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.
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