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| Home : Lithium Americas Announces US$112 Million Strategic Investment by Bangchak Petroleum |
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Jan 20
2017 |
Lithium Americas Announces US$112 Million Strategic Investment by Bangchak Petroleum |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 19, 2017) - Lithium Americas Corp. (TSX:LAC)(OTCQX:LACDF) ("Lithium Americas" or the "Company") is pleased to announce the investment by The Bangchak Petroleum Public Company Limited ("Bangchak") through its wholly-owned subsidiary, BCP Innovation Pte Ltd ("BCPI"). BCPI has signed an investment agreement (the "Investment Agreement") with Lithium Americas for funding to advance the construction of the Cauchari-Olaroz lithium project in Jujuy, Argentina. Pursuant to the Investment Agreement, BCPI has agreed to financing terms in an aggregate amount of US$112 million in exchange for increasing its ownership stake to 16.4% of the outstanding common shares of Lithium Americas pro-forma (the "Private Placement"); the right to buy a fixed portion of the lithium carbonate production from the Cauchari-Olaroz project (the "Offtake Entitlement"); and a US$80 million project debt facility (the "Project Debt Facility"). |
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| Source:http://www.marketwired.com/mw/release.do?id=2189722&sourceType=3 |
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