- Lithium Americas (LAC) has entered into an agreement to acquire US$10 million in shares of Green Technology Metals Ltd.
- Green Technology Metals is a lithium exploration company with hard rock spodumene assets in northwest Ontario
- Lithium America’s investment in GT1 is part of a share placement of approximately US$40 million
- Lithium Americas has entered into a non-binding collaboration with GT1 to advance the evaluation of an integrated lithium chemicals business in North America
- Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production
- Lithium Americas Corp. (LAC) is down 6.52 per cent, trading at C$31.40 per share at 2 pm ET
Lithium Americas (LAC) has entered into an agreement to acquire US$10 million in shares of Green Technology Metals Ltd.
Green Technology Metals is a North American-focused lithium exploration and development company with hard rock spodumene assets in northwest Ontario.
Jon Evans, Lithium Americas’ President and CEO commented on the investment.
“GT1’s team brings a strong track record of lithium exploration and resource extraction, which fits well with Lithium Americas’ expertise in chemical processing. With this initial investment, we look forward to working closely with GT1 to help accelerate the development of a North American lithium supply chain.”
GT1’s CEO, Luke Cox added,
“We are delighted to welcome Lithium Americas to the GT1 register. In combination with our existing strategic delivery partners and major shareholders, Primero and AMCI, we look forward to working with Lithium Americas in executing on our aggressive project advancement and development plans over the next few years.”
Lithium America’s investment in GT1 is part of a share placement of approximately US$40 million. Upon closing of the transaction, Lithium Americas expects to own approximately 5 per cent of GT1.
In addition to its US$10 million placement, Lithium Americas has entered into a non-binding collaboration with GT1 to advance the evaluation of a strategically located, integrated lithium chemicals business in North America.
The collaboration allows for the evaluation of potential cooperative aspects between the two businesses in relation to all aspects of the lithium processing and production value chain, from the processing of spodumene to the production of battery-grade lithium chemicals.
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production.
Lithium Americas Corp. (LAC) is down 6.52 per cent, trading at C$31.40 per share at 2 pm ET.