VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 28, 2017) - Lithium Americas Corp. (the "Company" and "Lithium Americas") (TSX:LAC)(OTCQX:LACDF) reports that 135,106,024 common shares, representing 42.88% of the total number of the Company's common shares issued and outstanding were voted at its Special Meeting held on March 27, 2017 (the "Meeting").
At the Meeting, the shareholders were asked to consider and, if deemed advisable, pass, with or without variation, an ordinary resolution (the "Resolution") to authorize the Company to issue 50,000,000 common shares of the Company at a price of C$0.85 per common share on a private placement basis pursuant to the terms of an investment agreement with BCP Innovation Pte Ltd. ("Bangchak Petroleum"), as more particularly described in the Company's management information circular dated February 17, 2017. The Resolution was passed by a majority of the shareholders who voted at the Meeting.
Details of the voting are as follows:
| Total shares voted in favour: | 131,144,477 (97.07%) |
| Total shares voted against: | 3,961,547 (2.93%) |
Lithium Americas continues to advance completion of strategic investments aggregating US$286 million by GFL International Co., Ltd. ("Ganfeng Lithium") and Bangchak Petroleum as announced on January 17, 2017 and January 19, 2017, respectively. The Company anticipates that these transactions will close within the next month.
About Lithium Americas
Lithium Americas, together with its joint venture partner SQM, is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar S.A. In addition, Lithium Americas owns 100% of the Lithium Nevada project (formerly Kings Valley project), and RheoMinerals Inc., a supplier of rheology modifiers for oil-based drilling fluids, coatings, and specialty chemicals.
