Error! Unknown document property name.
Error! Unknown document property name.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
FOR DISSEMINATION IN THE UNITED STATES
Lithium Africa Announces C$5 Million Private Placement of Units
Lisbon, Portugal – March 2, 2026 – Lithium Africa Corp. (TSX -V: LAF) (“Lithium Africa Resources ”
or the “Company”) is pleased to announce that it has entered into an agreement pursuant to which ATB
Cormark Capital Markets (the “ Agent”) has agreed to act agent, on a “ best efforts ” agency basis, in
connection with a private placement of 2,500,000 units of the Company (the “ Units”) at a price of C $2.00
per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$5 million (the “Offering”).
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”)
and one-half of one common share purchase warrant (each whole common share purchase warrant, a
“Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “ Warrant
Share”) at an exercise price of C$2.80 per Warrant Share f or a period of 3 years following the closing of
the Offering.
The Agent will have the option, exercisable in whole or in part at any time up to 48 hours prior to the
closing of the Offering, to sell an additional 375,000 Units at the Issue Price for additional gross proceeds
of C$750,000.
The net proceeds from the sale of the Units will be used as partial consideration in connection with the
acquisition of the Springbok Project and for working capital and general corporate purposes. An overview
of the Springbok Project and the transaction terms are provided in the Company’s news release dated
February 25, 2026.
The Offering is expected to close on or about March 18 , 2026, or such other date as the Company and
the Agent may mutually agree and is subject to certain conditions including, but not limited to, the receipt
of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.
The Offering will be made way of private placement pursuant to applicable exemptions from the
prospectus requirements in each of the provinces and territories of Canada and, in such other
jurisdictions, in each case in accordance with all applicable laws, provided that no prospectus, registration
statement or other similar document is required to be filed in such jurisdiction.
The securities offered have not been, nor will they be, registered under the United States Securities Act of
1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or
indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration
or an exemption from such registration requirements. This news release does not constitute an offer to sell
or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United
States in which such offer, solicitation or sale would be unlawful.
About Lithium Africa Corp.
The Company has an established 50/50 joint venture partnership with GFL International Co., Ltd. to jointly
advance exploration in Africa (the “ LAF-GFL JV ”) and through the LAF -GFL JV, the Company has an
indirect 50% interest in a portfolio of exploration assets in hard rock pegmatite districts across a number
of prospective African regions covering Ivory Coast, Guinea, Mali, Morocco and Zimbabwe. For more
information, please visit www.li-africa.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF LITHIUM AFRICA CORP.
Tyron Breytenbach, CEO & Director
For further information regarding the Company, contact:
- 2 -
Error! Unknown document property name.
Jeanne Liu, Investor Relations at [email protected], 1.604.771.7125.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts may be forward- looking
statements, including statements in respect of the closing of the Offering, the use of proceeds of the
Offering and acquisition of Springbok Project. These forward- looking statements involve risks,
uncertainties and other factors that could cause actual results to differ materially from those expressed or
implied by such forward -looking statements. In addition, the forward- looking statements require
management to make assumptions and are subject to inherent risks and uncertainties. There is
significant risk that the forward- looking statements will not prove to be accurate, that the management’s
assumptions may not be correct and that actual results may differ materially from such forward- looking
statements. Accordingly, readers should not place undue reliance on the forward- looking statements.
Generally forward- looking statements can be identified by the use of terminology such as “anticipate”,
“will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar
expressions. These forward-looking statements are based on a number of assumptions which may prove
to be incorrect which, without limiting the generality of the following, include: the ability to raise funds
through private or public equity financings; general business, economic, competitive, political and social
uncertainties; delay or failure to receive regulatory approvals; risks inherent in exploration activities; the
impact of exploration competition; unexpected geological conditions; changes in government regulations
and policies, including trade laws and policies; failure to obtain necessary permits and approvals from
government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market
fluctuations; environmental and safety risks including increased regulatory burdens; weather and other
natural phenomena; and other exploration, development, operating, financial market and regulatory risks.
The forward- looking statements contained in this press release are made as of the date hereof or the
dates specifically referenced in this press release, where applicable. Except as required by applicable
securities laws and regulation, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise, except as
required by applicable securities laws. All forward- looking statements contained in this press release are
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.