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Western Lithium USA Corporation (TSX:WLC) and Lithium Americas Corp. (TSX:LAC) have announced their merger under which Western Lithium will acquire all the shares of Lithium Americas at approximately C$80 million.
Western Lithium USA Corporation (TSX:WLC) and Lithium Americas Corp. (TSX:LAC) have announced their merger under which Western Lithium will acquire all the shares of Lithium Americas at approximately C$80 million.
As quoted in the press release,
This strategic combination reflects the commitment of both companies to create a leading lithium development company combining expertise, technology, and two significant lithium deposits based in North America and South America. The goal of the merger is to establish market leadership and develop future lithium supply requirements in a disciplined manner to reshape the current fragmented lithium development sector.
Western Lithium’s CEO, Jay Chmelauskas, stated:
The merged company will hold two of the leading lithium development projects in the world. We believe this combination will also result in better liquidity, market capitalization and funding opportunities.
Click here for the full Western Lithium USA Corporation (TSX:WLC) press release