Lithium Americas Announces Share Consolidation and Application to List on the NYSE American Stock Exchange in Addition to its TSX Listing
November 3, 2017
Lithium Americas Announces Share Consolidation and
Application to List on the NYSE American Stock Exchange in Addition to its TSX Listing
Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (OTCQX: LACDF) ("Lithium
Americas" or the "Company") announced today that it has applied to list its common shares
on the NYSE American stock exchange. In connection with the planned U.S. listing, and as
previously authorized by its shareholders, the Company is implementing a consolidation of its
outstanding common shares. The Company’s board of directors has determined that the
consolidation will be effected on the basis of one new common share for every five currently
outstanding common shares. The consolidation will take effect on November 8, 2017 and the
Company’s common shares are expected to commence trading on the Toronto Stock Exchange
on a post-consolidation basis beginning at the open of markets on November 8, 2017. There
are currently 442,281,126 common shares issued and outstanding, and it is expected that there
will be 88,456,225 common shares issued and outstanding following the consolidation, subject
to rounding for any fractional shares. No fractional shares will be issued as a result of the share
consolidation. Fractional interests of 0.5 or greater will be rounded up to the nearest whole
number of shares and fractional interests of less than 0.5 will be rounded down to the nearest
whole number of common shares.
Registered shareholders holding share certificates will be mailed a letter of transmittal advising
of the share consolidation and instructing them to surrender their share certificates representing
pre-consolidation common shares for replacement certificates representing their post-
consolidation common shares. Until surrendered for exchange, following the effective date of
the consolidation, each share certificate formerly representing pre-consolidation common
shares will be deemed to represent the number of whole post-consolidation common shares to
which the holder is entitled as a result of the consolidation.
Holders of common shares of the Company who hold uncertificated common shares (i.e.,
common shares held in book-entry form and not represented by a physical share certificate),
either as registered holders or beneficial owners, will have their existing book-entry account(s)
electronically adjusted by the Company’s transfer agent or, for beneficial shareholders, by their
brokerage firms, banks, trusts or other nominees that hold in “street name” for their benefit.
Such holders do not need to take any additional actions to exchange their pre-consolidation
common shares for post-consolidation common shares.
Beneficial shareholders holding their common shares through a bank, broker or other nominee
should note that such banks, brokers or other nominees may have different procedures for
processing the consolidation than those that have been put in place by the Company for
registered shareholders. If you hold your common shares with such a bank, broker or other
nominee and if you have questions in this regard, you are encouraged to contact your nominee.
In announcing the application to list on a U.S. stock exchange, Lithium America’s CEO, Tom
Hodgson, commented: "We look forward to a U.S. listing for Lithium Americas. We believe the
share consolidation and U.S. listing will improve trading liquidity of our common shares and
enable us to broaden our shareholder base."
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The Company currently anticipates that, subject to the receipt of all required approvals, its
common shares will begin trading on the NYSE American stock exchange before the end of
2017. The listing of the Company’s common shares on the NYSE American stock exchange
remains subject to the approval of that exchange and the satisfaction of all applicable listing
requirements. After completing a listing on the NYSE American stock exchange, the Company
intends to apply to migrate its listing to the NYSE at such time as it satisfies applicable eligibility
requirements, and any such migration remains subject to the approval of the NYSE.
About Lithium Americas
Lithium Americas, together with its joint venture partner, Sociedad Quimica y Minera de Chile
S.A., is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its
50% interest in Minera Exar S.A. In addition, Lithium Americas owns 100% of the Lithium
Nevada Project, and 100% of RheoMinerals Inc., a supplier of rheology modifiers for oil-based
drilling fluids, coatings, and specialty chemicals.
For further information contact:
Lithium Americas Corp.
Investor Relations
Suite 1100 – 355 Burrard Street
Vancouver, BC, V6C 2G8
Telephone: 778-656-5820
Email: [email protected]
Website: www.lithiumamericas.com
Forward-Looking Information
This news release contains “forward-looking information” under the provisions of applicable
securities legislation. Such forward-looking information is subject to various risks and
uncertainties. Forward-looking information in this news release includes, but is not limited to,
statements with respect to the timing, receipt of regulatory approval for, and completion of the
share consolidation and listing of the Company’s common shares on a U.S. stock exchange as
well as statements relating to future trading liquidity and our future shareholder base.
Forward looking information is subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those projected in the forward-
looking information or statements, including, but not limited to, risks and uncertainties related to
obtaining regulatory approval in a timely manner, or at all. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Forward-looking statements are made as of the date
hereof and the Company does not intend, and expressly disclaims any obligation to, update or
revise the forward-looking information contained in this news release, except as required by
law. Accordingly, readers are cautioned not to place undue reliance on forward-looking
information or statements.