Lithium Americas acquires Millennial Lithium Corp.

Lithium Americas Corp. and Millennial Lithium Corp. announced that they have entered into a definitive arrangement agreement dated November 17, 2021 (the “LAC Arrangement Agreement”) pursuant to which Lithium Americas has agreed to acquire all of the outstanding shares of Millennial (each, an “ML Share”) by way of a plan of arrangement (the “LAC Transaction”) for C$4.70 per ML Share, payable in common shares of Lithium Americas (the “LAC Shares”) and C$0.001 in cash per ML Share (collectively, the “Purchase Price”), representing total consideration of approximately US$400 million.

Based on Lithium Americas’ closing price on November 16, 2021, this consideration would result in Millennial Shareholders owning approximately 9.1% of Lithium Americas.

Information Source: Read More

Oil and gas, press , | Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar