Lithium Americas Closes US$275 Million Underwritten Public Offering

(All amounts in US$ unless otherwise indicated)

VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) announced the closing of its previously announced underwritten public offering (the “Offering”) of its common shares (the “Common Shares”). The Company issued 55,000,000 Common Shares, issued at a price of $5.00 per Common Share (the “Issue Price”), for aggregate gross proceeds to the Company of $275,000,000.

The net proceeds from the Offering are intended to be used to fund the advancement of construction and development of the Company’s Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”).

Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, “We are pleased to have completed this key financing milestone, which together with the U.S. Department of Energy (“DOE”) loan under the Advanced Technology Vehicles Manufacturing Loan Program (the “Loan”), satisfies the funding condition to closing the General Motors Holdings LLC (“GM”) second tranche investment (the “Tranche 2 Investment”). At the same time, the Offering and GM funding will allow the Company to meet the financing-related condition relating to closing the DOE Loan conditional commitment (the “Conditional Commitment”). These financings are expected to fully fund Thacker Pass Phase 1 construction.”

Mr. Evans continued, “With site preparation for major earthworks completed, our focus is on de-risking construction execution by increasing detailed engineering and progressing procurement packages. Once the remaining closing conditions are met and the Tranche 2 Investment and the DOE Loan close, which we anticipate to occur later this year if conditions to finalization of the Loan are met, Thacker Pass will advance to full notice to proceed and major construction to support America's energy security and emissions reduction aspirations. Our team continues to focus on our commitment to sustainably develop Thacker Pass toward production."

For the DOE Loan, if finalized, it is possible that the terms of the finalized Loan agreement may change from the time of Conditional Commitment. While the Conditional Commitment indicates DOE’s intent to finance Thacker Pass, the Company must satisfy certain technical, legal, environmental and financial conditions before the DOE enters into definitive financing documents and funds the Loan.