CA - Lithium Americas shareholders OK split of U.S. Argentina businesses

2023-08-01 13:14:06 ET

Lithium Americas ( NYSE: LAC ) said late Monday its shareholders voted in favor of the separation of the company into two companies: Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp (NewCo).

The separation was approved by 98.85% of the votes cast by shareholders present or represented by proxy at the meeting.

Lithium Argentina will advance the Cauchari-Oloroz project toward full commercial production, while the Lithium Americas will advance the Thacker Pass project in Nevada toward production to support the North American lithium supply chain, President and CEO Jonathan Evans said.

The separation is targeted to become effective this October, subject to regulatory approvals and closing conditions.

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