Published: April 27, 2023 |

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Lithium Americas and Arena Minerals have completed the plan of arrangement where Lithium Americas has acquired all of the issued and outstanding common shares of Arena. Arena owns 65 percent of the Sal de la Puna project covering approximately 13,200 hectares of the Pastos Grandes basin located in Salta, Argentina.

“With the completion of the acquisition, we have taken a big step towards consolidating the Pastos Grandes basin,” said John Kanellitsas, vice chairman of Lithium Americas.

“While our focus remains on near-term startup of production at Caucharí-Olaroz, the addition of Arena provides increased flexibility as we continue to advance our growth plans in Argentina,” added Kanellitsas.

Pursuant to the arrangement, Lithium Americas has acquired 100 percent of the issued and outstanding shares of Arena and Arena shareholders are entitled to receive 0.0226 of a common share of Lithium Americas and $0.0001 in cash in exchange for each Arena share held immediately prior to closing of the arrangement. In aggregate, the company issued approximately 8.4 million Lithium Americas common shares under the arrangement to former Arena security holders as consideration for their respective Arena shares and convertible securities.

Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and the Pastos Grandes basin represents regional growth. In the U.S., Thacker Pass has commenced construction and is targeting first production in the second half of 2026.

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