M&A Deal Summary

Arizona Lithium Acquires Prairie Lithium

On December 20, 2022, Arizona Lithium acquired metals/mining company Prairie Lithium from PFM Capital for 71M CAD

Acquisition Highlights
  • This is Arizona Lithium’s 1st transaction in the Metals/Mining sector.
  • This is Arizona Lithium’s largest (disclosed) transaction.
  • This is Arizona Lithium’s 1st transaction in Canada.
  • This is Arizona Lithium’s 1st transaction in Saskatchewan.

M&A Deal Summary
Date 2022-12-20
Target Prairie Lithium
Sector Metals/Mining
Buyer(s) Arizona Lithium
Sellers(s) PFM Capital
Deal Type Add-on Acquisition
Deal Value 71M CAD
Advisor(s) Eight Capital Management LLC (Financial)
Stikeman Elliott (Legal)

Target

Prairie Lithium

Emerald Park, Saskatchewan, Canada
Prairie Lithium is a private lithium resource and technology developer and a proprietary lithium extraction process technology that selectively removes lithium from Brine. The group's projects hold quality inferred lithium brine resources in Canada discovered to date, with 4.1MT LCE total inferred resources at 111 mg/L Li. Located in mining-friendly jurisdictions, the projects have easy access to key infrastructure including electricity, natural gas, fresh water, paved highways, and railroads. Prairie Lithium is based in Emerald Park, Saskatchewan.

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Buyer(S) 1

Buyer

Arizona Lithium

West Perth, Australia
Category Company
Founded 1969
Sector Metals/Mining
Revenue 1M AUD (2024)
DESCRIPTION

Arizona Lithium is focused on the sustainable development of the Big Sandy Lithium Project in Arizona. Arizona Lithium was founded in 1969 and is based in West Perth, Western Australia.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Saskatchewan) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

PFM Capital

Regina, Saskatchewan, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.1B CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PFM Capital is a private equity firm focused on investing in Western Canada with an emphasis on opportunities in Saskatchewan. PFM targets small and medium sized companies and will invest across the capital structure. Areas of interest include agriculture, oil/gas, manufacturing, and real estate. PFM looks to invest $5 to $25 million per transaction. PFM was formed in 1989 and has been investing since 1993. PFM Capital is based in Regina, Saskatchewan.

DEAL STATS #
Overall 9 of 9
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Saskatchewan) 4 of 4
Country (Canada) 9 of 9
Year (2022) 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Arizona Lithium

West Perth, Australia

Arizona Lithium is focused on the sustainable development of the Big Sandy Lithium Project in Arizona. Arizona Lithium was founded in 1969 and is based in West Perth, Western Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Woodland Development

Calgary, Alberta, Canada

Woodland Development is a private light oil and gas exploration and development company focused on the conventional oil and gas reservoirs of SE Saskatchewan. Woodland Development is based in Calgary, Alberta.

Buy -
Mergr

Product

Company

Legal