Lithium americas enters into definitive agreement to acquire millennial lithium

Vancouver, british columbia, nov. 17, 2021 (globe newswire) -- lithium americas corp. (tsx: lac) (nyse: lac) (“lithium americas”) and millennial lithium corp. (tsxv: ml) (a3n2:gr: frankfurt) (mlnlf: otcqb) (“millennial”) are pleased to announce 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.
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