Lithium Americas Corp. Announces Closing of $7.5 Million Financing Including Investment With Strategic Investor
TORONTO, ONTARIO - (Sept. 14, 2009) - Lithium Americas Corp. has completed a brokered private placement, through PowerOne Capital Markets Limited, Dundee Securities Corporation and Primary Capital Inc. as agents, for gross proceeds of $7.5 million for exploration work on its Cauchari-Olaroz salt lakes lithium/potash brine properties in the lithium/potash brine district of Puna, Argentina. A significant strategic investor has been granted Lithium Americas board representation, a pre-emptive right to maintain and in certain circumstances increase its equity interest in Lithium Americas and an option to acquire a percentage of any lithium carbonate production, up to a maximum of 50%, from Lithium Americas' properties provided that it maintains its equity interest in Lithium Americas and provides a loan for part of the funds necessary to build the mine following a positive feasibility study. Latin American Minerals Inc. (TSX VENTURE:LAT) continues to be Lithium Americas' largest shareholder with 8,400,000 common shares, representing an approximate 20% interest.
Lithium Americas is a junior exploration and development company focused on the exploration and development of Lithium, Potash, Borax and other industrial minerals in South America. Lithium Americas Corp. is managed by accomplished professionals with a proven track record of discovery, a deep knowledge of South American geology and an extensive network of high-level and strategic relationships throughout the continent.
For more information, please contact
Lithium Americas Corp.
Waldo Perez
President and CEO
+54-261-439-9268
www.lithiumamericas.com
