BRISBANE, Australia, May 11, 2026 (GLOBE NEWSWIRE) -- North American lithium producer Elevra Lithium Limited ("Elevra" or "Company") ((ASX:ELV, NASDAQ:ELVR) is pleased to announce that it has entered into an agreement to sell its interest in the Ewoyaa Lithium Project ("Ewoyaa Project") in Ghana to Zhejiang Huayou Cobalt Co, Ltd. ("Huayou"). Upon closing of the transaction, expected in Q1FY27, Elevra will receive approximately US$71 million (before fees and taxes) in cash.

Under the terms of the agreement, Huayou has agreed to purchase all of Elevra's rights and interests, inclusive of Elevra's offtake rights, in the Ewoyaa Project. As announced to the ASX1, Huayou has entered into a binding Scheme Implementation Deed with Atlantic Lithium Limited (ASX:A11) ("Atlantic") to acquire 100% of Atlantic's interest in the Ewoyaa Project via a Scheme of Arrangement for US$210 million in cash, payable at closing. Elevra currently owns 32,517,598 shares in Atlantic, or approximately 4.1% of the outstanding shares. Importantly, Huayou's acquisition of Elevra's interests in the Ewoyaa Project ...