Lithium Americas (LAC.TO) Announces Investment In Arena Minerals

The last trading session was open at Can$17.30 on July 9 and, with some success, has surged to Can$17.78. On Monday, the stock significantly skyrockets to Can$19.81 from Can$17.78; they showed a sharp outcome within five days. After reaching the top, the price of the company has slowly back to Can$17.71.See the source imageLithium Americas Corp. announced that it has approved to acquire 42,857,143 in Arena Minerals Inc. subscription receipts as part of a private placement at C$0.14 per subscription receipt for a total of C$6.0 million. The strategic holding of Arena Minerals will offer Lithium Americas a future opportunity to advance exploration in Argentina near the Koshari-Olaroz lithium project, which is being jointly developed by the Company and Ganfeng Lithium Co. Ltd. (“Gangfeng”). Ganfeng also owns an 18.7% stake in Arena Minerals.

Lithium Americas has the right to contribute to Arena Minerals’ future financing to support its proportional ownership share in Arena Minerals. These rights are conditions on the retention of Lithium Americas ‘ interest in Arena Minerals in 7.5% and 10.0%. Each order gives the owner the right to purchase one ordinary share of Arena Minerals at 0.25 Canadian dollars within 24 months from the date of issue.

Jack Dawkins

Finance and Tech Contributor

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