Western Lithium and Lithium Americas: Shareholders Approve Merger

Western Lithium USA (TSX:WLC) and Lithium Americas (TSX:LAC) announced that the previously announced plan of arrangement between both companies has been approved by shareholders.
As quoted in the press release:

98.25% of the shares represented at the Western Lithium special meeting were voted in favour of an ordinary resolution authorizing the issuance of such number of common shares in the capital of Western Lithium (“Western Lithium Shares”) as is necessary to acquire all of the outstanding common shares of Lithium Americas pursuant to an arrangement agreement dated June 30, 2015 (the “Arrangement Agreement”).
99.91% of the shares represented at the Lithium Americas special meeting were voted in favour of the Arrangement and 99.90% of the shares represented by “minority” shareholders within the meaning of applicable securities laws were voted in favour of the Arrangement.  Pursuant to the Arrangement, Lithium Americas shareholders will receive 0.789 of a Western Lithium Share for each common share of Lithium Americas held.  The disinterested shareholders of Lithium Americas also approved an ordinary resolution authorizing the issuance of such number of common shares of Lithium Americas as is necessary to settle certain change of control payments otherwise payable by LAC in cash to certain of its executive officers.
Lithium Americas will apply for a final order approving the Arrangement from the Ontario Superior Court of Justice (Commercial List) on September 3, 2015.  If all conditions specified in the Arrangement Agreement are satisfied or waived, it is anticipated that the Arrangement will become effective on or about September 4, 2015.

Click here for the full press release.