- Lithium Americas (LAC) has increased its interest in Arena Minerals (AN) from 11.6 to 18 per cent
- The additional US$10M investment reinforces Lithium’s long-term plans to become a premier lithium brine developer in Argentina
- Arena Minerals is a mineral exploration company focused on copper and lithium projects in Chile and Argentina
- Lithium Americas is a development-stage company with projects in Argentina and the United States
- Arena Minerals (AN) is up by 3.39 per cent and is currently trading at $0.61 per share
- Lithium Americas (LAC) is down by 0.15 per cent and is currently trading at $46 per share
Lithium Americas (LAC) has increased its interest in Arena Minerals (AN) from 11.6 to 18 per cent.
Lithium purchased 23,369,003 Arena common shares priced at C$0.54 per share through an alternative market transaction for approximately US$10 million. It now owns 21,428,571 Arena warrants.
The additional investment reinforces Lithium Americas’ long-term plans to become a premier lithium brine developer in Argentina. Arena’s Sal de la Puna Lithium Brine Project, together with the adjacent Pastos Grandes Lithium Brine Project owned by Millennial Lithium, provide future optionality in proximity to the company’s Caucharí-Olaroz Lithium Project.
Lithium Americas has signed an undertaking not to exercise its Arena warrants until it obtains disinterested shareholder approval for the creation of a control person by Arena shareholders, which is required upon surpassing 20-per-cent ownership.
Arena Minerals is a mineral exploration company focused on copper and lithium projects in Chile and Argentina.
Lithium Americas is a development-stage company with projects in Argentina and the United States.
Arena Minerals (AN) is up by 3.39 per cent and is currently trading at $0.61 per share as of 11:00 am EST.
Lithium Americas (LAC) is down by 0.15 per cent and is currently trading at $46 per share as of 11:03 am EST.
