UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): February 25, 2022
 
PIEDMONT LITHIUM INC.
(Exact name of registrant as specified in its charter)

Delaware
001-38427
36-4996461
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
   

32 North Main Street, Suite 100

Belmont, North Carolina
28012
(Address of Principal Executive Offices)
(Zip Code)
 
Registrant’s Telephone Number, Including Area Code: (704) 461-8000
 
(Former Name or Former Address, if Changed Since Last Report): Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of exchange on which
registered
Common Stock, $0.0001 par value per share
PLL
The Nasdaq Capital Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
 
Emerging Growth Company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
David Klanecky, who currently serves as the Chief Operating Officer of Piedmont Lithium Inc. (the “Company”), notified the Company on February 24, 2022 that he plans to leave his current role in the first quarter of 2022 to assume the position of Chief Executive Officer of Retriev Technologies.  Mr. Klanecky will continue to work with the Company as a member of the Company’s external Technical Advisory Board and Community Foundation.

The Company’s Chief Development Officer, Mr. Patrick Brindle, will succeed Mr. Klanecky as the Chief Operating Officer.  Mr. Brindle joined the Company in January 2018 and has led the Company’s technical and strategic efforts over the past four years, including advancing the Carolina Lithium Project and leading the Company’s strategic investments in Sayona Mining in Quebec and Atlantic Lithium in Ghana.

Item 7.01
Regulation FD Disclosure.

On February 25, 2022, the Company issued a press release announcing Mr. Klanecky’s upcoming departure and Mr. Brindle’s appointment, which is attached as Exhibit 99.1 hereto.

The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.  The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.

Item 9.01
Financial Statements and Exhibits.

(d)
Exhibits.

Exhibit No.
Description




Press Release.



104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

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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.
PIEDMONT LITHIUM INC.


Date: February 25, 2022
/s/ Keith Phillips

Name:
Keith Phillips

Title:
President and Chief Executive Officer


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Exhibit 99.1

PRESS RELEASE | February 25, 2022 | NASDAQ: PLL

Piedmont Lithium Announces Senior Management Changes

BELMONT, N.C., February 25, 2022 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL; ASX: PLL), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, today announced two senior management changes. David Klanecky, Piedmont’s Chief Operating Officer, has accepted the position of Chief Executive Officer of Retriev Technologies, the largest most diverse lithium-ion battery processer in North America. Mr. Klanecky will continue to work as a member of Piedmont’s external Technical Advisory Board, and Community Foundation. “David has been a great teammate and I’m happy for him to have received this opportunity to be CEO of Retriev, a private company with sizeable existing operations and an exciting growth path,” said Piedmont CEO, Keith Phillips. Mr. Phillips added, “We are pleased to have David continue his association with the Company as both a strategic advisor and as a member of our Community Foundation, something he has been passionately involved in developing.”

Piedmont’s Chief Development Officer, Mr. Patrick Brindle, will assume the role of Chief Operating Officer going forward. Mr. Brindle joined Piedmont in January 2018 and has led the Company’s technical and strategic efforts over the past four years, including advancing the Company’s flagship Carolina Lithium Project and leading Piedmont’s strategic investments in Sayona Mining in Quebec and Atlantic Lithium in Ghana. Mr. Phillips commented, “Patrick is an exceptional talent who is deeply passionate about building North America’s largest and most sustainable lithium hydroxide business. Having helped create our world-class and geographically diversified asset base, Patrick is uniquely positioned within our team to lead a transformation of Piedmont Lithium from a development stage company into production and operations on the most practically achievable timelines possible.

Our mission in 2022 is the successful execution of our near-term goals including advancing permits and approvals for our flagship Carolina Lithium Project, expanding our business plans to produce 60,000 tons per year of lithium hydroxide with a second lithium conversion plant, bringing our North American Lithium mine back into production with our partner Sayona Mining, and completing a feasibility study at Atlantic Lithium’s Ewoyaa Project in Ghana.

We have grown from a team of four employees two years ago to 30 today, including a deep technical team. We are also blessed with strong partners at our businesses in Canada and Ghana, which are both pursuing accelerated development schedules to capitalize on strong lithium market conditions. With Sayona Mining projecting first production from the restart of North American Lithium in 2023, Atlantic Lithium planning first production at the Ewoyaa project in 2024, and our own projects advancing towards their construction decisions, Piedmont Lithium’s future is positively electric.”
 
For further information, contact:
Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com

Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. The centerpiece of our operations, Carolina Lithium, is located in the renowned Carolina Tin-Spodumene Belt of North Carolina. Combining our U.S. assets with equally strategic and in-demand mineral resources, and production assets in Quebec and Ghana, positions us to be one of the largest, lowest cost, most sustainable producers of battery-grade lithium hydroxide in the world. We will also be the most strategically located to best serve the fast-growing North American electric vehicle supply chain. The unique geology, geography and proximity of our resources, production operations and customer base, will allow us to deliver valuable continuity of supply of a high-quality, sustainably produced lithium hydroxide from spodumene concentrate, preferred by most EV manufacturers. Our diversified operations will enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward Looking Statements
 
This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities; current plans for Piedmont’s mineral and chemical processing projects; strategy; and expectations regarding permitting. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont will be unable to commercially extract mineral deposits, (ii) that Piedmont’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Quebec and Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.