EXPANDING TROPICAL FOREST CONSERVATION PROGRAM 250KM AWAY
- Sigma Lithium (TSXV:SGML) today announced an expansion in the Tropical Forest Conservation program, aimed to create a "Conservation Belt Against Deforestation" around the Medio Vale do Jequitinhonha by acquiring areas potentially at risk to be deforested to become cattle pastures.
- The Company's affiliates plan to acquire land in a region located 250km away from the Company, 100% within the tropical forest/
Atlantic Forest bioma. - If the Conservation Belt were to be deforested, it would significantly increase adverse climate change impacts in the Medio Vale Jequitinhonha, which is already experiencing some of the higher temperatures in
Brazil . - The Conservation Belt represents an "environmental protection of tropical forests" encircling the Medio Vale do Jequitinhonha that currently alleviates the high temperatures already experienced by the semi-arid region.
- Aracuai and Itinga, the towns where the Company is located, are in the "caatinga" bioma (Brazilian semi-arid vegetation).
- The Company's affiliates plan to acquire land in a region located 250km away from the Company, 100% within the tropical forest/
- Sigma Lithium (through one of its related parties) will add approximately 350 hectares of
Atlantic Forest land to be preserved, in addition to the 340 hectares already preserved, totaling 690 hectares of equivalent to 7 km2 (square kilometers of tropical forest). - This initiative is part of its environmental compensation program, whereby the Company compensates the "caatinga" (semi-arid, low bush-type vegetation) located around the Company with tropical forest located 250km away, to create a Conservation Belt against deforestation.
DELAYED FILING OF FORM 40-F
- The Company has received a letter from Nasdaq, dated
April 5, 2024 (the "Letter"), stating that the Company is not in compliance with certain Nasdaq Listing Rules due to the delayed filing of its annual report on Form 40-F for the year endedDecember 31, 2023 (the "Form 40-F"). - The Letter has no immediate effect on the listing or trading of the Company's common shares on the Nasdaq Capital Market.
- The Company has 60 calendar days from the date of the Letter to file the annual report on Form 40-F or submit a plan to regain compliance.
- If the plan is accepted, Nasdaq can grant an exception of up to 180 calendar days from the Form 40-F's due date, or until
September 30, 2024 .
- If the plan is accepted, Nasdaq can grant an exception of up to 180 calendar days from the Form 40-F's due date, or until
- Management and other insiders of Sigma Lithium are subject to a black-out period and prohibited from trading, until the Company's Annual Filings are completed.
SÃO PAULO,
EXPANDING ATLANTIC FOREST CONSERVATION PROGRAM
The Conservation Belt represents an "environmental protection of tropical forests" encircling the Medio Vale do Jequitinhonha that provides humidity and currently alleviates the high temperatures already experienced by the semi-arid region. Aracuai and Itinga, the towns where the Company is located, are in the "caatinga" bioma (Brazilian semi-arid vegetation).
The Company's affiliates plan to acquire tropical forest land located in a region 250km away from Sigma Lithium, 100% within the
Sigma Lithium (through one of its related parties) will add approximately 350 hectares of
DELAYED FILING OF FORM 40-F
In accordance with the requirements of the Nasdaq rules, the Company has received the Letter, stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed filing of its Form 40-F. The Letter has no immediate effect on the listing or trading of the Company's common shares on the Nasdaq Capital Market. Consistent with Nasdaq Listing Rule 5250(c)(1), the Company has 60 calendar days from the date of the Letter to submit a plan to regain compliance and, if the plan is accepted, Nasdaq can grant an exception of up to 180 calendar days from the Form 40-F's due date, or until
As the Company previously announced in its press release dated
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade 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
Please refer to the Company's National Instrument 43-101 technical report titled "Grota do Cirilo Lithium Project Araçuaà and Itinga Regions,
For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
Sigma Lithium
LinkedIn: Sigma Lithium
Instagram: @sigmalithium
Twitter: @SigmaLithium
FORWARD-LOOKING STATEMENTS
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