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Lithium Americas Makes USD 10m Equity Investment in Green Technology Metals.

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Vincent

MANews-(C)2009-2022

Canada-based lithium miner Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) has entered into an agreement to acquire shares of Australian lithium exploration and development company Green Technology Metals Ltd. (ASX: GT1) in a share placement for total consideration of USD 10m, the company said.

GT1 is a North American focused lithium exploration and development company with hard rock spodumene assets in north-west Ontario, Canada.

The company's investment in GT1 is part of a share placement of approximately USD 40m (AUD 55m).

Upon closing of the share placement, Lithium Americas expects to own approximately 5% of GT1.

In addition to its USD 10m placement, Lithium Americas has entered into a non-binding Collaboration Framework with GT1 to advance evaluation of a strategically located, integrated lithium chemicals business in North America.

The Framework allows for evaluation of potential cooperative aspects between the two businesses in relation to all aspects of the lithium processing and production value chain, from the processing of spodumene through to the production of battery-grade lithium chemicals.

It is set to leverage off and benefit from the considerable expertise within both businesses with respect to the production of both intermediate and final lithium products.

Lithium Americas has a well-established and technical...

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