Lithium Americas Bolsters Industry Dominance with Successful Acquisition of Arena Minerals

VANCOUVER, British Columbia: Lithium Americas Corp. and Arena Minerals Inc. have successfully concluded the previously announced plan of arrangement. As per the terms of the arrangement, Lithium Americas has acquired all the common shares of Arena, thereby leading to the acquisition of Arena's 65% ownership of the Sal de la Puna project. The Pastos Grandes project is situated in Salta, Argentina, and covers an area of roughly 13,200 hectares within the basin.

Taking a significant stride towards consolidating the Pastos Grandes basin, successfully completed the acquisition. Primary focus is still set on the near-term production startup at Cauchari-Olaroz, but with the addition of Arena, now have more flexibility to propel growth plans in Argentina.

Lithium Americas has completed the acquisition of Arena by obtaining all the outstanding Arena Shares. As per the arrangement, every Arena shareholder will receive 0.0226 Lithium Americas common shares and $0.0001 of cash for each Arena share held at closing time. In total, approximately 8.4 million Lithium Americas common shares were issued to the former Arena security holders as a consideration for their Arena Shares and convertible securities.