Lithium Americas Announces Closing of US$100M ATM Offering 2020-11-30 16:15 ET - News Release
VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce that it has completed the US$100 million at-the-market equity offering (the “ATM Program”) announced on October 20, 2020. In connection with the ATM Program, the Company issued a total of 9,266,587 common shares from treasury for gross proceeds of approximately US$100 million.
Total net proceeds from the ATM Program will be used for working capital and general corporate purposes.
“We are very pleased with the outcome of the ATM Program,” said Jon Evans, President and CEO. “With over US$145 million in cash on our balance sheet, the Company is in a strong position to complete construction at Cauchar-Olaroz and advance strategic discussions to finance Thacker Pass.”