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Lithium Americas Corp. LAC has announced the expected completion of its company separation on Tuesday, October 3, 2023. The separation will result in Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. (NewCo).
Under the separation terms, Lithium Americas shareholders will receive one share each of Lithium Argentina and Lithium Americas (NewCo) for every share held. The company anticipates the commencement of ‘when-issued’ public trading for both new entities on the New York Stock Exchange (NYSE) on Monday, October 2, 2023.
The company also expects ‘regular-way’ trading of the new shares to begin on the NYSE and TSX on Wednesday, October 4, 2023. Registered shareholders are reminded to submit their certificates or direct registration statements to Computershare Investor Services Inc. to receive their new shares.
Lithium Americas is separating its U.S. and Argentine business units into two public independent companies. Lithium Argentina will focus on advancing toward full production capacity, while Lithium Americas (NewCo) will focus on advancing construction with the target to commence production in the second half of 2026.
Company Website: https://www.lithiumamericas.com
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