Lithium Argentina closes Pastors Grandes transaction with Ganfeng Lithium

Lithium Americas (LAAC) announce the completion of the previously announced agreement with a subsidiary of Ganfeng Lithium (GNENF) whereby Ganfeng Lithium acquired $70M in newly issued shares of Proyecto Pastos Grandes, the Company’s wholly-owned Argentinian subsidiary holding the Pastos Grandes project in Salta, Argentina, representing a 14.9% interest in PGCo and Pastos Grandes. Pastos Grandes is a lithium brine development project acquired by the Company in early 2022 with the acquisition of Millennial Lithium Inc. The Project is in the same basin as the Sal de la Puna project, adjacent to Ganfeng Lithium’s Pozuelos-Pastos Grandes project and 100 km from the operating Cauchari-Olaroz project jointly owned and operated by Lithium Argentina and Ganfeng Lithium. Based on current analysis, the Company would expect that attractive fiscal incentives resulting from the approval of the Large Investments’ Incentive Regime in Argentina would apply to its longer-term regional development plans at Pastos Grandes and the Stage 2 expansion of Cauchari-Olaroz. The Company and Ganfeng Lithium continue advancing a regional development plan for PPG and the Pastos Grandes Basin with results expected around the end of 2024.