LAC - Lithium Americas bolsters presence in Argentina with Arena Minerals acquisition

• Lithium Americas ( NYSE: LAC ) -2.5% said Tuesday it would buy Arena Minerals ( OTCQX:AMRZF ) for an implied equity value of $227 million (C$311 million), in a move to boost its dominance in the Pastos Grandes basin in Argentina.
• Under terms, Arena’s shareholders will receive 0.0226 of a Lithium Americas common share for each Arena Share held, which translates to Lithium Americas paying C$0.67 for every Arena share.
• “The significant synergies between our two projects and a better understanding of the basin will enable us to advance development planning and maximize our growth pipeline in Argentina," LAC president and CEO Jonathan Evans said.
• The deal would result in Arena shareholders owning about 5.7% of Lithium Americas, and is expected to close by Q3 2023.

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