Sigma Lithium Announces Delay IN Filing Annual Continuous Disclosure Documents Due to Move Toward Commercial Production and Sap Implementation; Filing Expected Before the End of April
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SIGMA LITHIUM ANNOUNCES DELAY IN FILING ANNUAL CONTINUOUS
DISCLOSURE DOCUMENTS DUE TO MOVE TOWARD COMMERCIAL
PRODUCTION AND SAP IMPLEMENTATION; FILING EXPECTED BEFORE
THE END OF APRIL
VANCOUVER, CANADA – (April 10, 2023) – SIGMA Lithium Corporation (“Sigma Lithium” or the “Company”)
(NASDAQ: SGML, TSXV: SGML) announces that there will be a delay in the filing of its annual information form,
its audited consolidated financial statements for the year ended December 31, 2022 and the related
management’s discussion and analysis, and its annual report on Form 40 -F for the year ended December 31,
2022 (the “ Form 40 -F”) containing such documents (collectively, the “ Annual Filings”), which were due on
March 31, 2023. The delay is due to the additional audit procedures required as a result of the activities to move
towards commercial production in early 2023 and the recent investment in and implementation of SAP as the
Company’s new enterprise resource planning system, which resulted in transition challenges and related
delays. The Company has been working, and is continuing to work, diligently and expeditiously with its auditors
to complete the work necessary to finalize the audit of the Company’s financial statements f or the year ended
December 31, 2022. The Company expects to file the Annual Filings before the end of April 2023 and will
announce the date of the release of the Annual Filings in a subsequent press release.
In accordance with the requirements of the Nas daq Stock Market LLC (“Nasdaq”) rules, the Company has
received a letter from Nasdaq, dated April 5, 2023 (the “Notice”), stating that the Company is not in compliance
with Listing Rule 5250(c)(1) due to the delayed filing of the Form 40 -F. The Notice 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 Notice 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 September 27, 2023, to regain compliance. Until the Annual Filings are made,
management and other insiders of Sigma Lithium are subject to a black-out period and prohibited from trading.
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML) is a company dedicated to powering the next generation of
electric vehicle batteries with environmentally sustainable and high-purity lithium.
Sigma Lithium has been at the forefront of environmental and social sustainability in the electric vehicle battery
materials supply chain for six years and it is currently commissioning its wholly owned Grota do Cirilo Project
in Brazil. Phase 1 of the project is to produce 270,000 tonnes annually (36,700 LCE annually). If it is determined
to proceed, Phase 2 & 3 of the project are expected to increase production to 766,000 tonnes annually (or
104,200 LCE annually) of battery grade sustainable lithium concentrate in a 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 technical report titled “Grota do Cirilo Lithium Project, Aracuai and Itinga Regions, Minas Gerais,
Brazil, Updated Technical Report” dated October 31 st, 2022, which is filed on SEDAR and is also available on
the Company’s website.
For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
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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 regarding the Company’s current expectations and intentions
with respect to the filing of its Annual Filings. Such statements reflect management’s current views based on
certain assumptions, and they involve risks and uncertainties. There can be no assurance that such s tatements
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 inten tion 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 profiles at www.sedar.com and www.sec.gov.
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.
INVESTOR CONTACT
Jamie Flegg, Chief Development Officer
(Toronto) +1 (647) 706-1087