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Lithium Americas wraps up reorganisation

4th October 2023

By: Creamer Media Reporter

     

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Lithium Americas, now Lithium Americas (Argentina) and a new Lithium Americas (NewCo) on Tuesday jointly announced the completion of the reorganisation of Lithium Americas into two independent publicly traded companies.

“We look forward to seeing these two market-leading companies thrive independently,” said Lithium Americas (NewCo) president and CEO Jonathan Evans.

“The separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation.”

“I am extremely proud of the Lithium Argentina and Lithium Americas (NewCo) teams for their hard work and dedication in redesigning these companies with the right management teams and resources to flourish independently,” said Lithium Argentina executive chairperson, president and interim CEO John Kanellitsas.

“The closing of this separation is a pivotal moment in allowing each company to sharpen its focus and pursue independent and unique growth opportunities within the lithium industry,” said Kanellitsas, who is also the former executive vice chair of Lithium Americas.

As of close of trading on Tuesday, common shares of Lithium Americas have concluded regular-way trading on the TSX and NYSE under the symbol “LAC”, and Lithium Argentina common shares and Lithium Americas (NewCo) common shares have concluded trading on a “when-issued” basis on the NYSE.

At the start of trading on Wednesday, Lithium Argentina shares and Lithium Americas (NewCo) shares will commence trading on the TSX and NYSE on a regular-way basis under the ticker symbols “LAAC” and “LAC”, respectively.

Edited by Creamer Media Reporter

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