Sigma Lithium (NASDAQ:SGML) stock is climbing higher on Wednesday after confirming it received strategic proposals.
According to a news release, Sigma Lithium’s board of directors is reviewing multiple strategic proposals. That includes offerings for the company, its Brazilian company Sigma Brazil, as well as for its Grota do Cirilo Project.
Sigma Lithium notes that each of the strategic offers vary in nature and size. As such, the company is going over them to seek out the best choice for investors in SGML stock. This is part of its ongoing strategic review process that it expects to complete this year.
What This Means for SGML Stockholders
Of course, shareholders of SGML stock will also have a say when it comes to the offered strategic proposals. The company’s board of directors notes that it will hold a shareholder meeting where the majority of the minority shareholders will vote on the matter.
Ana Cabral, co-chairperson of the board and CEO of Sigma Lithium, said the following about the offers:
“Sigma Lithium’s Board of Directors is conscious of its fiduciary duty and the responsibility involved in selecting our strategic partner, enabling Sigma Brazil to continue to take our country to the next level in securing its vital position within the global lithium supply chain.”
SGML stock is up 14% as of Wednesday morning and is up 44.3% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
