Lithium Argentina Closes Pastos Grandes Transaction with Ganfeng Lithium [Financial Post (Toronto, Ontario, Canada)]
Lithium Americas (Argentina) Corp. Common Shares (LAAC)
Company Research
Source: Financial Post
VANCOUVER, British Columbia, Aug. 16, 2024 (GLOBE NEWSWIRE) — Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) (“ Lithium Argentina ” or the “ Company ”) is pleased to announce the completion of the previously announced agreement (the “ Transaction ”) with a subsidiary of Ganfeng Lithium Co. Ltd. (“ Ganfeng Lithium ”,) whereby Ganfeng Lithium acquired $70 million in newly issued shares of Proyecto Pastos Grandes S.A. (“ PGCo ”), the Company's wholly-owned Argentinian subsidiary holding the Pastos Grandes project (“ Pastos Grandes ”) in Salta, Argentina, representing a 14.9% interest in PGCo and Pastos Grandes. “The completion of this Transaction is an important step forward for the combined efforts of Lithium Argentina and Ganfeng Lithium in Argentina emphasizing the collaboration and shared commitment of both companies to innovate and responsibly progress the global clean energy transition,” commented Sam Pigott, President and CEO of Lithium Argentina. “Proceeds from the Tran
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