Lithium Americas Closes US$400 Million Underwritten Public Offering

January 22, 2021 - Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") announced today the closing of its previously announced underwritten public offering (the “Offering”) of shares of its common stock (the “Common Shares”). The Company issued 18,181,818 Common Shares, including 2,272,727 Common Shares following the exercise in full by the underwriters of their over-allotment option. The shares were issued at a price of US$22.00 per Common Share for gross proceeds to the Company of approximately US$400 million.

Canaccord Genuity acted as lead book-running manager for the Offering, Deutsche Bank Securities, Evercore ISI and Stifel acted as joint book-running managers and National Bank Financial and Cormark Securities acted as co-managers. 

The net proceeds from the Offering are intended to be used to fund development of the Thacker Pass lithium project and for general corporate and working capital purposes, as further described in the Prospectus Supplement described below. 

The Offering was made by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s existing Canadian base shelf prospectus (the “Base Shelf Prospectus”) and the Company’s United States registration statement on Form F-10 (the “Registration Statement”). The Offering was made in the United States and in each of the provinces and territories of Canada, except Québec. The Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement contain important information about the Company and the Offering. The final Canadian Prospectus Supplement (together with the related Canadian Base Shelf Prospectus) is available on SEDAR at www.sedar.com. The final U.S. Prospectus Supplement (together with the Registration Statement) is available on EDGAR at www.sec.gov. Alternatively, the Canadian Prospectus Supplement (together with the related Canadian Base Shelf Prospectus) and the U.S. Prospectus Supplement (together with the Registration Statement) may be obtained upon request by contacting the Company or Canaccord Genuity, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110, by telephone at (617) 371-3900 or by email at prospectus@cgf.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon by the accuracy or adequacy of the Prospectus Supplements, the Base Shelf Prospectus or the Registration Statement.

The Company is relying on an exemption under Section 602.1 of the TSX Company Manual for the pricing of the Offering, pursuant to which the Company is following the rules of the New York Stock Exchange.

About Lithium Americas:

Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, USA.  The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.

For further information contact:
Lithium Americas Corp.
Investor Relations
Suite 300 – 900 West Hastings Street
Vancouver, BC, V6C 1E5
Telephone: 778-656-5820
Email:    ir@lithiumamericas.com
Website: www.lithiumamericas.com