(All amounts in US$ unless otherwise
indicated)
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC)
(“Lithium Americas” or the “Company”) today announced
the closing of the previously announced $250 million investment
from fund entities managed by Orion Resource Partners LP
(collectively, “Orion”), for the development and
construction of Phase 11 of the Thacker Pass lithium project in
Humboldt County, Nevada (“Thacker Pass” or the
“Project”). Contemporaneously, Lithium Americas and General
Motors Holdings LLC (“GM”) (together, the Thacker Pass joint
venture (“JV”) partners (“JV Partners”))
announced the final investment decision (“FID”) for Thacker
Pass Phase 1.
HIGHLIGHTS
- As part of closing, Orion has purchased senior unsecured
convertible notes in the aggregate principal amount of $195
million, has paid Lithium Americas $25 million in exchange for
payments corresponding to the minerals produced and gross revenue
generated by Thacker Pass and committed an additional $30 million
in aggregate principal amount of senior unsecured convertible notes
available through a delayed draw facility, subject to the
satisfaction of certain conditions (the “Investment”).
- The Investment satisfies all remaining requirements from both
the U.S. Department of Energy (“DOE”) and GM to satisfy all
remaining equity capital fundraising requirements under the
previously announced $2.26 billion loan from the DOE (the “DOE
Loan”).
- With the Investment, Lithium Americas has achieved fully funded
status for the development of Phase 1 of Thacker Pass at the
project and corporate level for the duration of construction.
- The JV Partners announced FID for construction of Phase 1 of
Thacker Pass. Completion of Phase 1 of Thacker Pass is targeted for
late 2027.
- Contemporaneously with FID, GM and Lithium Americas contributed
$100 million and $192 million in cash to the JV, respectively.
Jonathan Evans, Lithium Americas’ President and CEO said, “Today
marks another important milestone in our journey to bring Thacker
Pass to production. With our JV Partner, GM, we announced FID for
Phase 1 alongside our other exceptional partners – the U.S. DOE and
Orion. Together, we will develop a U.S.-produced lithium supply
chain to reduce American dependence on foreign suppliers for
critical minerals.”
ADVISORS
Evercore Group L.L.C. and Goldman Sachs & Co. LLC are acting
as joint lead placement agents for Lithium Americas, and Vinson
& Elkins LLP and Cassels Brock & Blackwell LLP are acting
as legal counsel to Lithium Americas. Torys LLP and Davis Graham
& Stubbs LLP are acting as legal counsel to Orion Resource
Partners.
ABOUT LITHIUM AMERICAS
Lithium Americas is committed to responsibly developing the
Thacker Pass project located in Humboldt County in northern Nevada,
which hosts the largest known measured lithium resource (Measured
and Indicated) and reserve (Proven and Probable) in the world.
Thacker Pass is owned by a JV between Lithium Americas (holding a
62% interest and is the manager of the Project) and GM (holding a
38% interest). The Company is focused on advancing Thacker Pass
Phase 1 toward production, targeting nominal design capacity of
40,000 t/y of battery-quality lithium carbonate. The Company and
its engineering, procurement and construction management
contractor, Bechtel, entered into a National Construction Agreement
(Project Labor Agreement) with North America’s Building Trades
Unions for construction of Thacker Pass. The three-year
construction build is expected to create nearly 2,000 direct jobs,
including 1,800 skilled contractors. Lithium Americas’ shares are
listed on the Toronto Stock Exchange and New York Stock Exchange
under the symbol LAC. To learn more, visit www.lithiumamericas.com
or follow @LithiumAmericas on social media.
QUALIFIED PERSON
The scientific and technical information contained in this news
release has been derived from the technical report entitled “NI
43-101 Technical Report on the Thacker Pass Project Humboldt
County, Nevada, USA,” dated effective December 31, 2024. The
disclosure herein has been reviewed and approved by Dr. Rene
LeBlanc, RM-SME, Vice President, Growth and Product Strategy of the
Company, a Qualified Person as defined under National Instrument
43-101. The technical report is available under the Company’s
profile on SEDAR+, in the S-K 1300 Technical Report which is
available under the Company’s profile on EDGAR at www.sec.gov and
both reports are available on the Company’s website.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within
the meaning of applicable Canadian securities legislation, and
“forward-looking statements” within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act
of 1934, as amended (collectively referred to as “forward-looking
information” (“FLI”)). All statements, other than statements
of historical fact, are FLI and can be identified by the use of
statements that include, but are not limited to, words, such as
“anticipate,” “plan,” “continues,” “estimate,” “expect,” “may,”
“will,” “projects,” “predict,” “proposes,” “potential,” “target,”
“implement,” “scheduled,” “forecast,” “intend,” “would,” “could,”
“might,” “should,” “believe” and similar terminology, or statements
that certain actions, events or results “may,” “could,” “would,”
“might” or “will” be taken, occur or be achieved. FLI in this news
release includes, but is not limited to, expectations regarding
satisfaction of draw-down conditions for the DOE Loan; the timing
of first draw on the DOE Loan; expectation about the extent that
the JV, DOE Loan, the Investment and cash on hand would fund the
development and construction of Thacker Pass; expectations and
timing on the commencement of major construction and first
production; project de-risking initiatives; expectations related to
the construction build, job creation and nameplate capacity of the
Project as well as other statements with respect to the Company’s
future objectives and strategies to achieve these objectives, and
management’s beliefs, plans, estimates and intentions, and similar
statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts.
FLI involves known and unknown risks, assumptions and other
factors that may cause actual results or performance to differ
materially. FLI reflects the Company’s current views about future
events, and while considered reasonable by the Company as of the
date of this news release, are inherently subject to significant
uncertainties and contingencies. Accordingly, there can be no
certainty that they will accurately reflect actual results.
Assumptions upon which such FLI is based include, without
limitation, the absence of material adverse events affecting the
Company during the construction of the Project; the ability of the
Company to satisfy all draw-down conditions under the DOE Loan;
expectations regarding the Company's financial resources and future
prospects; the ability to meet future objectives and priorities; a
cordial business relationship between the Company and third party
strategic and contractual partners; general business and economic
uncertainties and adverse market conditions; the availability of
equipment and facilities necessary to complete development and
construction at the Project; unforeseen technological and
engineering problems; political factors, including the impact of
the results of the 2024 U.S. presidential election on, among other
things, the extractive resource industry, the green energy
transition and the electric vehicle market; uncertainties inherent
to feasibility studies and mineral resource and mineral reserve
estimates; uncertainties relating to receiving and maintaining
mining, exploration, environmental and other permits or approvals
in Nevada; demand for lithium, including that such demand is
supported by growth in the electric vehicle market; current
technological trends; the impact of increasing competition in the
lithium business, and the Company’s competitive position in the
industry; compliance by joint venture partners with terms of
agreements; the regulation of the mining industry by various
governmental agencies; as well as assumptions concerning general
economic and industry growth rates, commodity prices, resource
estimates, currency exchange and interest rates and competitive
conditions. Although the Company believes that the assumptions and
expectations reflected in such FLI are reasonable, the Company can
give no assurance that these assumptions and expectations will
prove to be correct.
Readers are cautioned that the foregoing lists of factors are
not exhaustive. There can be no assurance that FLI will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information. As such,
readers are cautioned not to place undue reliance on this
information, and that this information may not be appropriate for
any other purpose, including investment purposes. The Company’s
actual results could differ materially from those anticipated in
any FLI as a result of the risk factors set out herein and in the
Company’s filings with securities regulators.
The FLI contained in this news release is expressly qualified by
these cautionary statements. All FLI in this news release speaks as
of the date of this news release. The Company does not undertake
any obligation to update or revise any FLI, whether as a result of
new information, future events or otherwise, except as required by
law. Additional information about these assumptions and risks and
uncertainties is contained in the Company’s filings with securities
regulators, including the Company’s most recent Annual Report on
Form 10-K and most recent management’s discussion and analysis for
our most recently completed financial year and, if applicable,
interim financial period, which are available on EDGAR at
www.sec.gov and SEDAR+ at www.sedarplus.ca. All FLI contained in
this news release is expressly qualified by the risk factors set
out in the aforementioned documents.
The Company is relying upon the exemption set forth in Section
602.1 of the Toronto Stock Exchange (“TSX”) Company Manual,
which provides that the TSX will not apply its standards to certain
transactions involving eligible interlisted issuers on a recognized
exchange.
____________________
1 Phase 1 is the initial phase of
production at Thacker Pass, targeting 40,000 tonnes per year
(“t/y”) of battery-grade lithium carbonate.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250401055743/en/
INVESTOR CONTACT Virginia Morgan, VP, IR and ESG
+1-778-726-4070 ir@lithiumamericas.com
Grafico Azioni Lithium Americas (NYSE:LAC)
Storico
Da Mar 2025 a Apr 2025
Grafico Azioni Lithium Americas (NYSE:LAC)
Storico
Da Apr 2024 a Apr 2025
