The Prospector News

Lithium Americas Closes US$275 Million Underwritten Public Offering

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Lithium Americas Closes US$275 Million Underwritten Public Offering






Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) announced the closing of its previously announced underwritten public offering of its common shares. The Company issued 55,000,000 Common Shares, issued at a price of $5.00 per Common Share for aggregate gross proceeds to the Company of $275,000,000.


The net proceeds from the Offering are intended to be used to fund the advancement of construction and development of the Company’s Thacker Pass lithium project in Humboldt County, Nevada.


Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, “We are pleased to have completed this key financing milestone, which together with the U.S. Department of Energy loan under the Advanced Technology Vehicles Manufacturing Loan Program, satisfies the funding condition to closing the General Motors Holdings LLC second tranche investment. At the same time, the Offering and GM funding will allow the Company to meet the financing-related condition relating to closing the DOE Loan conditional commitment. These financings are expected to fully fund Thacker Pass Phase 1 construction.”


Mr. Evans continued, “With site preparation for major earthworks completed, our focus is on de-risking construction execution by increasing detailed engineering and progressing procurement packages. Once the remaining closing conditions are met and the Tranche 2 Investment and the DOE Loan close, which we anticipate to occur later this year if conditions to finalization of the Loan are met, Thacker Pass will advance to full notice to proceed and major construction to support America’s energy security and emissions reduction aspirations. Our team continues to focus on our commitment to sustainably develop Thacker Pass toward production.”


For the DOE Loan, if finalized, it is possible that the terms of the finalized Loan agreement may change from the time of Conditional Commitment. While the Conditional Commitment indicates DOE’s intent to finance Thacker Pass, the Company must satisfy certain technical, legal, environmental and financial conditions before the DOE enters into definitive financing documents and funds the Loan.




The Company is a Canadian-based lithium resource company that owns 100% of the Thacker Pass project located in Humboldt County in northern Nevada, through its wholly-owned subsidiary, Lithium Nevada Corp.


Posted April 23, 2024

Share this news article



New Gold Inc. (TSX: NGD) (NYSE American: NGD) is pleased to annou... READ MORE

May 17, 2024


Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) announces... READ MORE

May 17, 2024

MAX Power Closes $1.9 Million Private Placement

MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FRANKFURT: 89N) ... READ MORE

May 17, 2024

McEwen Copper Announces Completion of the Feasibility Drilling Program

70,000 meters completed, highlights include:   349.0 m of 0.77... READ MORE

May 17, 2024

Rupert Resources Reports Results From Project Drilling Including 120m at 6.2g/t Gold

Rupert Resources Ltd. (TSX:RUP) reports assay results from projec... READ MORE

May 16, 2024

Copyright 2024 The Prospector News