Lithium Americas Exercises Warrants of Arena Minerals
November 14 2022 - 5:00PM
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC)
(“
Lithium Americas” or the
“
Company”) announced an exercise of common share
purchase warrants (“
Arena Warrants”) of Arena
Minerals Inc. (TSX-V: AN) (“
Arena Minerals”) to
purchase 14,590,000 common shares of Arena Minerals (“
Arena
Shares”) at an exercise price of C$0.25 per Arena Share
for aggregate consideration of US$2.7 million (the “
Warrant
Exercise”).
Prior to the Warrant
Exercise, Lithium Americas beneficially owned 66,226,146 Arena
Shares, representing approximately 17.0% of Arena Minerals’ issued
and outstanding share capital on a non-diluted basis, and
21,428,571 Arena Warrants. Following the Warrant Exercise, Lithium
Americas beneficially owns 80,816,146 Arena Shares, representing
approximately 19.9% of issued and outstanding Arena Shares on a
non-diluted basis, and 6,838,571 Arena Warrants.
The Company is
acquiring the Arena Shares for investment purposes. Depending on
market conditions and other factors, Lithium Americas may, from
time to time, acquire additional securities of Arena Minerals or
dispose of some or all of the securities of Arena Minerals that it
owns at such time. The Company has signed an undertaking not to
exercise Arena Warrants until such time as the Company can obtain
disinterested shareholder approval of the creation of a new control
person by the shareholders of Arena Minerals, which is required
once the Company passes the 20% ownership threshold. An early
warning report will be filed by Lithium Americas on SEDAR on
www.sedar.com in accordance with applicable securities laws. To
obtain a copy of the early warning report, please contact the
Corporate Secretary of Lithium Americas at 778-656-5820 or
legal@lithiumamericas.com. The Company’s head office is located at
900 West Hastings Street, Suite 300, Vancouver, British Columbia,
V6C 1E5.
ABOUT ARENA MINERALSArena
Minerals owns 65% of the Sal de la Puna Project covering
approximately 13,200 hectares of the Pastos Grandes basin located
in Salta, Argentina. The claims are highly prospective and share
the basin with two advanced lithium brine projects. In addition to
Sal de la Puna, Arena Minerals owns the Antofalla lithium brine
project in Argentina, consisting of four claims covering a total of
6,000 hectares of the central portion of Salar de Antofalla. Arena
Minerals has developed a proprietary brine processing technology
using brine type reagents derived from the Antofalla project with
the objective of producing more competitive battery grade lithium
products directly from conventional evaporation ponds. For more
information regarding Arena Minerals, its management, expertise and
projects, please visit www.arenaminerals.com.
ABOUT LITHIUM AMERICASLithium
Americas is focused on advancing lithium projects in Argentina and
the United States to production. In Argentina, Caucharí-Olaroz is
advancing towards first production and Pastos Grandes represents
regional growth. In the United States, Thacker Pass has received
its Record of Decision and is advancing towards construction. 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:Investor
RelationsTelephone: 778-656-5820Email:
ir@lithiumamericas.comWebsite: www.lithiumamericas.com
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