Lithium Americas shareholders approve company split

1st August 2023 By: Creamer Media Reporter

The shareholders of Toronto- and New York-listed Lithium Americas (LAC) on Monday voted in favour of the separation of the company into Lithium Americas (Argentina) and a new Lithium Americas Corp (Lithium Americas or Newco).

The separation was approved by 98.85% of the votes cast by shareholders present or represented by proxy at the meeting.

“We are delighted to see our shareholders’ overwhelming support for the separation,” commented LAC president and CEO Jonathan Evans.

Following the separation, Lithium Americas (NewCo) will advance the Thacker Pass project, in Nevada, toward production to support the critical North American lithium supply chain.

Meanwhile, Lithium Argentina will advance Caucharí-Olaroz toward full commercial production and pursue development opportunities in its growth pipeline in Argentina.

The separation is targeted to become effective in early October. Completion of the separation remains subject to certain regulatory approvals and closing conditions.