VANCOUVER, British Columbia, September 20, 2022 (GLOBE NEWSWIRE) — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or “we”) is pleased to announce that it has entered into a strategic collaboration agreement (“collaboration agreement”) Green Technology Metals Ltd. (ASX:GT1) (“GT1”) to advance the common goal of developing an integrated lithium chemical supply chain in North America.
- Entered into a collaboration agreement with GT1, a North American-focused lithium exploration and development company with hard rock spodumene assets in northwestern Ontario, Canada.
- It builds on Lithium Americas’ previous US$10 million strategic equity investment in GT1 and an established collaboration framework.
- It provides a non-exclusive right to work jointly between the parties.
- Established Strategic Management Board for further joint exploration and development opportunities focused on Canada and the United States
Jonathan Evans, president and CEO of Lithium America, said: “In the context of the passage of the Inflation Control Law (“)IRAs”) Increased engagement with potential North American-focused partners and customers by the U.S. Congress. “
Jonathan Evans further commented:
Cameron Henry, Director of GT1, said: “Collaboration between the Groups has already begun with the Primero Group and the combination of development and processing of Hard Rock Lithium is a world-renowned company that will continue the growth of both businesses. One experience has been: “Both GT1 and Lithium Americas share a common goal of building a preeminent vertically integrated lithium business in North America. With a significant increase in , this end goal is once again becoming more valuable as automakers seek to obtain sales tax exemptions for their vehicles.”
In North America, Lithium Americas is focused on developing the Thacker Pass project, which is 100% owned (seetucker pass) in Humboldt County, Nevada. The Company has obtained all necessary federal and state permits to begin construction and is awaiting decision on an appeal filed with the Bureau of Land Management regarding the issuance of a decision record.rod”). The company is actively preparing for the start of construction, including planning for initial construction in the second half of 2022 and finalizing engineering, procurement and construction management (seeEPCM) Company, hiring lead construction and project management roles, facilitating financing and offtake discussions, and advancing the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program.
strategic cooperation agreement
Following Lithium America’s US$10 million strategic equity investment and signing of the first non-binding collaboration framework agreement with GT1 in April 2022, the collaboration agreement is a joint venture between Lithium America and GT1. We provide a non-exclusive right to do the work. The agreement represents a further step forward in the goals of the parties to jointly develop midstream and downstream processing strategies and routes for battery-grade lithium chemicals throughout Ontario and North America.
The collaboration agreement is intended to facilitate enhanced communication and knowledge sharing between Lithium Americas and GT1’s management and technical teams to:
- Develop an integrated technical working group to discuss asset improvement, metallurgical and process recovery, and battery-grade chemical refining.
- Share resources and knowledge of North American early-stage lithium spodumene resources, including research findings, developments, and discussions on new technologies and opportunities.
- Leverage Lithium Americas’ Lithium Technical Development Center in Reno to test and process hard rock lithium ores into intermediate and final lithium products.
- Develop intermediate and downstream processing strategies and routes for battery-grade lithium chemicals across Ontario and North America.
- Drive development plans and project finance for integrated lithium chemistry business, and provide customers with integrated supply chain battery-grade chemistry solutions.When
- Reach out to offtake and downstream partners and customers.
The cooperation agreement includes the establishment of a Strategic Management Committee composed of equal representatives from Lithium America and GT1 to discuss joint exploration or development and pursuit strategic opportunities and establish a strategic development framework. , to facilitate and oversee joint development plans.
There are no antecedent terms to the Collaboration Agreement and the Collaboration Agreement may be mutually terminated for convenience upon thirty (30) days’ notice. Neither Lithium Americas nor GT1 has a formal requirement to provide any particular valuable type of service or to fund for the purposes of the collaboration agreement.
About Green Technology Metals
GT1 is a North American-focused lithium exploration and development business. GT1’s Ontario Lithium Project comprises high-grade hard rock spodumene assets (Seymour, Root, Wisa) and lithium exploration rights (Allison and Solstice). GT1’s strategy is to build a vertically integrated lithium business in Ontario.
About Lithium America
Lithium Americas is focused on bringing lithium projects to production in Argentina and the United States. In Argentina, Caucharí-Olaroz is on its way to first production and Pastos Grandes represents regional growth. In the US, Thacker Pass has received record of approval and is moving towards construction. The company trades on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol “LAC.”
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This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking information”) as defined by applicable securities laws. All statements other than statements of historical fact are forward-looking information. Examples of forward-looking information in this news release include, among other things, the following statements: the expectation that the collaboration agreement will facilitate actual collaboration between the Company and GT1, leading to the continued growth of the businesses of both parties; Impact on the value of the purpose shared by the parties. Forward-looking information is based on a number of factors and assumptions that, if not true, may cause our actual results, performance or achievements to differ from future results or performance expressed or implied by such information. , or may differ materially from the results. Such information reflects our current views regarding future events and is necessarily based on many assumptions. These assumptions, which we currently believe to be reasonable, are inherently subject to significant uncertainties and contingencies. These assumptions include, among others: Lithium demand, supply and pricing. Competitive landscape in the lithium industry and related industries; Current technology trends; Technological advances and changes. Smooth operation of the company’s lithium technology development center in Reno, Nevada. A friendly business relationship between us and GT1 and the ability to work together to advance and achieve the objectives of the collaboration agreement. Stock market, financial, economic, regulatory and political conditions in Ontario and across North America generally support the cooperation between the company and GT1. A stable and supportive legislative, regulatory and community environment in the jurisdictions in which we and GT1 operate. the ability of the Company and GT1 to create and realize the expected benefits from previous transactions and agreements between them;
Additional risks, assumptions and other factors are described in our most recent Annual Management Discussion Analysis and Annual Information Forms. Copies of these are available on our profile on SEDAR (www.sedar.com) and on the SEC’s website (www.sec).government
Although we have attempted to identify material risks and assumptions, there are uncertainties inherent in such forward-looking information and there may be other factors that could cause results to differ materially. there is. Forward-looking information is made only as of the date set forth herein and, except as required by law, the Company does not update or update any forward-looking information contained in this news release. We have no intention of correcting it and expressly disclaim any obligation to do so. Readers are therefore cautioned not to place undue reliance on such forward-looking information.
Lithium Americas Signs Strategic Partnership Agreement with Green Technology Metals, The Canadian Business Journal
Source link Lithium Americas Signs Strategic Partnership Agreement with Green Technology Metals, The Canadian Business Journal