VANCOUVER, British Columbia, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) (“Lithium Argentina” or the “Company”) is pleased to announce the completion of the previously announced agreement (the “Transaction”) with a subsidiary of Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium”,) whereby Ganfeng Lithium acquired $70 million in newly issued shares of Proyecto Pastos Grandes S.A. (“PGCo”), the Company’s wholly-owned Argentinian subsidiary holding the Pastos Grandes project (“Pastos Grandes”) in Salta, Argentina, representing a 14.9% interest in PGCo and Pastos Grandes.

“The completion of this Transaction is an important step forward for the combined efforts of Lithium Argentina and Ganfeng Lithium in Argentina emphasizing the collaboration and shared commitment of both companies to innovate and responsibly progress the global clean energy transition,” commented Sam Pigott, President and CEO of Lithium Argentina. “Proceeds from the Transaction will be used to strengthen our balance sheet, reduce short term debt at Caucharí-Olaroz and provide additional flexibility to support our future growth plans.” see & read more onhttps://www.globenewswire.com/news-release/2024/08/16/2931501/0/en/Lithium-Argentina-Closes-Pastos-Grandes-Transaction-with-Ganfeng-Lithium.html