Lithium Americas Announces Closing of US$100M ATM Offering
November 30 2020 - 4:15PM
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium
Americas" or the "Company") is pleased to announce that it
has completed the US$100 million at-the-market equity offering (the
“ATM Program”) announced on October 20, 2020. In connection with
the ATM Program, the Company issued a total of 9,266,587 common
shares from treasury for gross proceeds of approximately US$100
million.
Total net proceeds from the ATM Program will be
used for working capital and general corporate purposes.
“We are very pleased with the outcome of the ATM
Program,” said Jon Evans, President and CEO. “With over US$145
million in cash on our balance sheet, the Company is in a strong
position to complete construction at Caucharí-Olaroz and advance
strategic discussions to finance Thacker Pass.”
About Lithium
Americas:
Lithium Americas is a development-stage company
with projects in Jujuy, Argentina and Nevada, USA. The
Company trades on both the Toronto Stock Exchange and on the New
York Stock Exchange, under the ticker symbol “LAC”.
For further information contact:Lithium Americas
Corp.Investor RelationsSuite 300 – 900 West Hastings
StreetVancouver, BC, V6C 1E5Telephone: 778-656-5820Email:
ir@lithiumamericas.com Website: www.lithiumamericas.com
Forward-Looking
Statements:
This news release contains “forward-looking
information” and “forward-looking statements” (which we refer to
collectively as forward-looking information) under the provisions
of applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking information.
Examples of forward-looking information in this news release
include the anticipated use of proceeds from the ATM Program, the
benefits from such use of proceeds, the expected costs and timing
to complete construction of the Caucharí-Olaroz project, and the
expected costs and timing to advance strategic discussion to
finance the Thacker Pass project.
Forward-looking information is based upon a
number of factors and assumptions that, if untrue, could cause the
actual results, performances or achievements of the Company to be
materially different from future results, performances or
achievements expressed or implied by such information. Such
information reflects the Company’s current views with respect to
future events and is necessarily based upon a number of assumptions
that, while considered reasonable by the Company today, are
inherently subject to significant uncertainties and contingencies.
These assumptions include, among others, any anticipated use of
proceeds from the ATM Program, lithium market conditions and
pricing, the Company’s ability to fund, advance and develop the
Caucharí-Olaroz project and the Thacker Pass project into
production, including results therefrom and timing thereof, the
impacts of COVID-19 globally and in the jurisdictions in which we
operate, and on the availability and movement of personnel,
supplies and equipment, timing of regulatory approvals and permits,
and on third parties we are in a contractual relationship with
regarding the preparation of the definitive feasibility study for
the Thacker Pass project and with respect to construction
activities at the Caucharí-Olaroz project, accuracy of mineral
resources, including whether such mineral resources can ever be
converted into reserves, reliability of technical data, accuracy of
current budget and construction estimates, that pending patents
will be approved, ability to achieve commercial production, general
economic conditions, maintenance of a positive business
relationship with existing project partners, timely responses from
governmental agencies responsible for reviewing and considering the
Company’s permitting activities, the Company position in a
competitive environment, a stable and supportive legislative,
regulatory and community environment, and general economic and
market conditions. Forward-looking information also involve risks,
assumptions and other factors are set out in the Company’s
management discussion analysis and most recent annual information
form, copies of which are available on SEDAR at www.sedar.com.
Although the Company has attempted to identify
important risks and assumptions, given the inherent uncertainties
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 news release,
except as required by law. Accordingly, readers are cautioned not
to place undue reliance on forward-looking information.
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