Lithium Americas Corp. (TSE:LAC) has released an update.
Lithium Americas Corp. (LAC) and General Motors Holdings LLC (GM) have agreed to extend the Tranche 2 Investment agreement to December 31, 2024, which includes conditions for termination notices and the potential acceleration of the investment completion. The agreement outlines various scenarios under which the Tranche 2 Closing can occur, subject to conditions such as the execution of a Loan Arrangement and Reimbursement Agreement (LARA) related to a DOE Loan. Additionally, the deal grants GM exclusive rights to purchase 100% of the lithium produced from a Phase 2 expansion of LAC’s Thacker Pass Project under certain terms.
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