Lithium Americas Announces US$10 Million Strategic Equity Investment in Green Tech Metals

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VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce that it has entered into an agreement to acquire shares of Green Technology Metals Ltd.
(ASX: GT1) (“GT1”) in an equity offering for a total consideration of US$10 million. GT1 is a North American lithium exploration and development company with hard rock spodumene assets in northwestern Ontario, Canada (“Lithium projects in Ontario”).

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“The GT1 team brings a strong background in lithium resource exploration and extraction, which aligns well with Lithium Americas’ expertise in chemical processing,” commented Jon Evans, President and Chief Executive Officer. from the leadership of Lithium Americas. “With this initial investment, we look forward to working closely with GT1 to help accelerate the development of a lithium supply chain in North America.”

GT1 CEO Luke Cox said, “We are delighted to welcome Lithium Americas to the GT1 registry. In combination with our existing strategic delivery partners and major shareholders, Primero and AMCI, we look forward to working with Lithium Americas to execute our aggressive plans for project advancement and development over the next few years.

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The Company’s investment in GT1 is part of an equity offering of approximately US$40 million (AUD$55 million). Upon closing of the equity offering, Lithium Americas expects to own approximately 5% of GT1.

Collaborative framework
In addition to its US$10 million placement, Lithium Americas has entered into a non-binding framework for collaboration (“Frame”) with GT1 to advance the valuation of an integrated lithium chemicals business strategically located in North America.

The framework helps assess potential aspects of cooperation between the two companies with respect to all aspects of the lithium processing and production value chain, from spodumene processing to the production of quality lithium chemicals. battery. It is expected to leverage and benefit from both companies’ considerable expertise in the production of intermediate and end-use lithium products. Lithium Americas has a well-established and highly technical knowledge base in lithium chemicals and downstream lithium processing, which perfectly complements GT1’s spodumene mining and processing expertise and development path. planned for its lithium projects in Ontario.

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The key guiding principles of the Framework involve both parties working together to seek to:

  • Rapidly advancing Ontario’s GT1 lithium projects and accelerating the Seymour lithium project (80% GT1) into production.
  • Develop midstream and downstream processing pathways for battery-grade lithium chemicals in Ontario and across North America.
  • Advance development plans and project financing for an integrated lithium chemistry business.
  • Find downstream collection partners and offer an integrated supply chain solution to customers.
  • Leverage Lithium Americas Lithium Engineering Development Center in Reno to further test and develop intermediate and end-line lithium products.

About Green Tech Metals
GT1 is a North American lithium exploration and development company. GT1’s Ontario lithium projects include hard rock high-grade spodumene assets (Seymour, Root and Wisa) and lithium exploration claims (Allison and Solstice) located on highly Archean greenstone tenure. promising in northwestern Ontario, Canada. GT1’s strategy is to build a vertically integrated lithium business in Ontario.

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About Lithium Americas
Lithium Americas is focused on advancing lithium projects in Argentina and the United States toward production. In Argentina, Caucharí-Olaroz is progressing to first production and Pastos Grandes represents regional growth. In the United States, Thacker Pass has received its Record of Decision and is moving towards construction. The Company is listed on the Toronto Stock Exchange and the New York Stock Exchange under the symbol “LAC”.

For more information, contact:
Investor Relations
Phone: 778-656-5820
Email: [email protected]
Website: www.lithiumamericas.com

FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking information” and “forward-looking statements” (which we collectively refer to as forward-looking information) under the provisions of applicable securities laws. All statements, other than statements of historical fact, are forward-looking information, examples of which in this press release include, among other things, statements relating to: the Company’s investment in a private placement by GT1 and the participation scheduled for closing, provided that certain closing conditions are met; the expected benefits to the Company from such investment; any support that the Company plans to provide to GT1 to advance its projects; any future acquisition or disposition of GT1 securities; expected benefits to the business of the collaborative framework, including expectations for future collaborative initiatives, complementary expertise, ability to meet the guiding principles of the collaborative framework, including rapid advancement of Ontario Lithium projects , developing processing pathways for battery-grade lithium chemicals in Ontario and across North America, advancing development plans and funding projects for an integrated lithium chemicals business, seeking downstream supply partners and developing an integrated supply chain solution, and plans to leverage the company’s technical development center being developed in Reno to test and develop lithium products .

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Forward-looking information is based on a number of factors and assumptions which, if incorrect, could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by this information. This information reflects the current views of the Company regarding future events and is necessarily based on a number of assumptions which, although considered reasonable by the Company today, are inherently subject to significant uncertainties and contingencies. These assumptions include, among others: the evolution of the current and future business plans of the Company and separately of GT1, and the strategic alternatives available to each of them; general stock market conditions; lithium demand, supply and pricing; competitive conditions in the lithium industry and related industries; results of exploration activities and technical reports from GT1; current technology trends; a cordial business relationship between the Company and GT1, and the ability to cooperatively advance and realize the principles of the Framework for Collaboration; political and local support for the initiatives proposed within the framework of collaboration; and general economic and political conditions in North America and other jurisdictions where the Company and GT1 operate.

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The additional risks, assumptions and other factors underlying the forward-looking information, with respect to the Company and its properties, are described in the Company’s MD&A and in the most recent Annual Information Form, copies of which are available at our profile on SEDAR at www.sedar.com.

Although the Company has attempted to identify significant risks and assumptions, given the uncertainties inherent in such forward-looking information, there may be other factors that cause results to differ materially. Forward-looking information is made as of the date hereof and the Company does not intend and expressly disclaims any obligation to update or revise the forward-looking information contained in this press release, except as required by applicable law. . Accordingly, readers are cautioned not to place undue reliance on forward-looking information.

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