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Lithium Americas Reports Results of Special Meeting of Shareholders and Provides Update on Strategic Financings
Mar. 28, 2017 08:35AM PST
Battery MetalsLithium Americas (TSX:LAC) has reported that 135,106,024 common shares representing 42.88 percent of the total number of the company’s common shares issued and outstanding were voted at its special meeting on March 27, 2017. As quoted in the press release: At the Meeting, the shareholders were asked to consider and, if deemed advisable, pass, with …
Lithium Americas (TSX:LAC) has reported that 135,106,024 common shares representing 42.88 percent of the total number of the company’s common shares issued and outstanding were voted at its special meeting on March 27, 2017.
As quoted in the press release:
At the Meeting, the shareholders were asked to consider and, if deemed advisable, pass, with or without variation, an ordinary resolution (the “Resolution”) to authorize the Company to issue 50,000,000 common shares of the Company at a price of C$0.85 per common share on a private placement basis pursuant to the terms of an investment agreement with BCP Innovation Pte Ltd. (“Bangchak Petroleum”), as more particularly described in the Company’s management information circular dated February 17, 2017. The Resolution was passed by a majority of the shareholders who voted at the Meeting.
Details of the voting are as follows:
Total shares voted in favour: 131,144,477 (97.07%) Total shares voted against: 3,961,547 (2.93%) Lithium Americas continues to advance completion of strategic investments aggregating US$286 million by GFL International Co., Ltd. (“Ganfeng Lithium”) and Bangchak Petroleum as announced on January 17, 2017 and January 19, 2017, respectively. The Company anticipates that these transactions will close within the next month.
