Marketwire
TORONTO, ONTARIO--(Marketwired - Nov. 26, 2013) - Lithium Americas Corp. (TSX:LAC) ("Lithium Americas" or the "Company") announced today that its largest shareholder, Geologic Resource Partners LLC ("Geologic"), has informed the Company that it has acquired 2,200,000 Lithium Americas common shares on the open market. With this purchase, Geologic has further strengthened its position as Lithium Americas' largest shareholder, now owning a total of 15,338,100 common shares, which represents a 19.8% ownership interest.
"This purchase signals Geologic's continued confidence and long standing support in Lithium Americas, as the Company continues to pursue ongoing corporate development initiatives and financing opportunities in relation to the development of our world-class Cauchari-Olaroz lithium project," said Tom Hodgson, Executive Chairman of Lithium Americas.
About the Company
Lithium Americas is developing one of the world's largest and lowest cost lithium operations, and is in continued discussions regarding project financing. The Company has defined the world's third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas' operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.